The Following Questions Use the Data Below $\le$ Predicted Sales < 1175
B)1310

question 90

Multiple Choice

The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.10. What are predicted sales for the fourth quarter of year 4?

• A)1170 \(\le\) predicted sales < 1175
• B)1310 \(\le\) predicted sales < 1315
• C)1460 \(\le\) predicted sales < 1465
• D)1615 \(\le\) predicted sales < 1620

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Definitions:

Budget Variance

This is the difference between the budgeted or planned amount of expense or revenue, and the actual amount incurred or received.

Standard Hours

The set amount of time expected to complete a job or task, often used for planning and assessing the efficiency of operations.

Volume Variance

The difference between the budgeted volume of production and the actual volume, which affects the fixed overhead costs.

Direct Labor-Hours

A measure of the total hours worked by employees who are directly involved in the production process of a company's products or services.