Question 1 10 Points Grindgood Company operates a chain of cozy coffee shops. The company's...
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Accounting
Question 1
10 Points
Grindgood Company operates a chain of cozy coffee shops. The company's chief executive officer is interested in accumulating some information on the overhead costs incurred by the company. You have been asked to analyze the following six months' worth of data.
Month Overheadcost No. of labor Hours
| April | 60,160 | 867 |
| May | 56,500 | 624 |
| June | 58,900 | 689 |
| July | 63,500 | 974 |
| August | 59,325 | 730 |
| September | 62,400 | 901 |
Using the high-low method, construct a cost formula for the total overhead cost.
Total overhead cost = Fixed cost + Variable cost
= $ + ($ per hour Number of labor hours)
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