Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. using high-low to calculate predicted total variab

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period...

70.2K

Verified Solution

Question

Accounting

image

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period that Differs from the Data Period Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours January $7,300 400 February 10,199 590 March 8,440 680 650 April 10,087 May 8,790 520 June 7,831 July 9,790 390 610 350 August 7,750 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $7,019 + ($2.09 X Employee Hours) Required: Assume that 3,900 employee hours are budgeted for the coming year. Use the total labor cost formula to make the following calculations: 1. Calculate total variable labor cost for the coming year. Round your answer to the nearest dollar. 2. Calculate total fixed labor cost for the coming year. Round your answer to the nearest dollar. 3. Calculate total labor cost for the coming year. Round your answer to the nearest dollar

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Virulent bacteria can innocuous bacteria into virulent strains A lysogenically affect C conjugate B transduce...

Physics
1.2K views

At a point beats frequency of n Hz is observed It means 1 medium particles...

Statistics
1.2K views

The developing economies share of the global gross domestic product GDP from 2003 to 2017...

Algebra
1.2K views

Express in terms of sums and differences of logarithms In 4 3 3x y In...

Algebra
1.2K views

work Part I Find A the leading term of n x 14 6 57

Algebra
1.2K views

Linda needs to have her car towed Little Town Auto charges a flat fee of...

Accounting
1.2K views

year 7? Different cash flow. Given the following cash inflow at the end of each...

Accounting
1.2K views

Detail solutions, please!! Problem 6-9 Sandhill Construction Company has entered into a non-cancellable contract...

Accounting
1.2K views

The Zealand Company is a publicly traded corporation that produces different types of commercial food...

Accounting
1.2K views

The following three independent sets of facts relate to contingent liabilities: 1. In November of...

Accounting
1.2K views

I need to get some help on this. Could you please provide clear answers. ...

Finance
1.2K views

answer me correctly FIN 1013-2022W Assignment #2 Please read the following case study...