What are the estimating equations for each cost driver Schotte Manufacturing Company uses two different independent variables (machine-hours and number of packages) in two different equations to evaluate costs of the packaging department. The most recent results of the two regressions are as follows: Machine-hours: Variable Coefficient Standard Error t-Value Constant $748.30 $341.20 2.19 Independent Variable $52.90 $35.20 1.50 r2 = 0.33 Number of packages: Variable Coefficient Standard Error t-Value Constant $242.90 $75.04 3.24 Independent Variable $5.60 $2.00 2.80 r2 = 0.73 Required: a. What are the estimating equations for each cost driver? b. Which cost driver is best and why? Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help
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