For 2008, what is the expected Manufacturing Overhead if Manufacturing Direct Labor Hours are expected to be 2,100?
Use the manufacturing data below to answer the following questions. (worth 24 points)
|
Year |
Manufacturing Direct Labor Hours |
Manufacturing Overhead |
|
2002 |
1,200 |
$73,000 |
|
2003 |
1,500 |
$97,000 |
|
2004 |
2,300 |
$128,000 |
|
2005 |
2,700 |
$155,000 |
|
2006 |
3,300 |
$175,000 |
|
2007 |
3,400 |
$218,000 |
a) For 2008, what is the expected Manufacturing Overhead if Manufacturing Direct Labor Hours are expected to be 2,100?
b) Manufacturing Direct Labor Hours explain about how much of Manufacturing Overhead?
c) What is the equation?
A lower coefficient of determination is better for forecasting. (worth 3 points)
True or False ?
