Burmer CoHas Accumulated Data to Use in Preparing Its Annual Profit

question 49

Multiple Choice

Burmer Co.has accumulated data to use in preparing its annual profit plan for the upcoming year.The cost behavior pattern of the maintenance costs must be determined.Data regarding the machine hours and maintenance costs for the last year and the results of the regression analysis are as follows:
A staff assistant has run regression analyses on the data and obtained the following output using Excel:
The statistic that indicates precision of the regression is:

• A).9982.
• B)47.0630.
• C)0.9981.
• D)Lower 95% and Upper 95%.
• E)Significance F (1.44E-13).

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Definitions:

Net Sales

Revenue from sales minus returns, allowances, and discounts.

Net Income

The residual financial gain of a company post all expenses and taxes being deducted from the revenue.

Net Sales Revenue

Net Sales Revenue is the total revenue from sales of goods or services after deducting returned goods and any allowances or discounts.

Bank Reconciliation

A process of ensuring that the bank's records of an individual's or company's cash balance matches the financial records of the company.