The management of Hamano Corporation would like for you to analyze their repair costs, which are listed below: Machine-Hours Repair CostsApril2145? $33,099? May2174? $33,117? June2131? $33,094? July2208? $33,117? August2116? $33,027? September2224? $33,181? October2142? $33,068? November2219? $33,154? ?Management believes that repair cost is a mixed cost that depends on the number of machine-hours. Using the least-squares regression method, the estimates of the variable and fixed components of repair cost would be closest to:
A. $0.80 per machine-hour plus $31,875 per month
B. 15.04 per machine-hour plus $33,839 per month
C. $1.02 per machine-hour plus $30,900 per month
D. $1.29 per machine-hour plus $30,309 per month
Answer: C
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