Exercise 2-8 (Part Level Submission)Usonic, Inc., has collected the following information on its cost of electricity:MachineHoursTotal ElectricityCostsJanuary625$280February700$290March500$265April425$200May450$248June300$170July375$180August550$240September575$260October280$150November430$215December200$100Exercise 2-8 (Part Level Submission)Assuming the line intersects the y-axis at $50 and using the September activity levels calculate the equation of the line that would be drawn for a scattergraph. (Round variable cost to 2 decimal places, e.g. 15.25 and fxed cost to 0 decimal places, e.g 15.)y =$× MH+$Your answer is correct.What is the expected electricity cost when 425 machine hours are used? (Round answer to 2 decimal places, e.g. 125.25.)Total cost$Problem 2-26 (Part Level Submission)Prepare Henley’s contribution format income statement for the month.Per Unit$$:0.3750200Sales Revenue33,82038Variable Expenses
5-35 EXCEL WORKBOOKGrowMaster Prod- ucts, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Carol Jones, the firm’s marketing director, has completed the following sales forecast. Month SalesMonthSalesJanuary$ 900,000July$1,500,000February$1,000,000August$1,500,000March$ 900,000September$1,600,000April$1,150,000October$1,600,000May$1,250,000November$1,500,000June$1,400,000December$1,700,000Phillip Smith, an accountant in the Planning and Budgeting Department, is responsible for preparing the cash flow projection. He has gathered the following information.All sales are made on credit. GrowMaster’s excellent record in accounts receivable collection is expected to continue, with 60 percent of billings collected in the month after sale and the remaining 40 percent collected two months after the sale. Cost of goods sold, GrowMaster’s largest expense, is estimated to equal 40 percent of sales dollars. Seventy percent of inventory is purchased one month prior to sale and 30 percent during the month of sale. For example, in April, 30 percent of April cost of goods sold is purchased and 70 percent of May cost of goods sold is purchased.