Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, I need Accounting help please Using Regression to Calculate Fixed Cost, Calculate the variable Rate, construct a Cost Formula, and Determine Budgeted Cost Pizza

Hi, I need Accounting help please

image text in transcribed

Using Regression to Calculate Fixed Cost, Calculate the variable Rate, construct a Cost Formula, and Determine Budgeted Cost Pizza Vesuvio makes specialty pizzas. Data for the past eight months were collected: Month Labor Cost Employee Hours $7,000 January February 8,140 550 March 630 9,899 April 9,787 480 May 8,490 7,450 350 June 570 9,490 July 310 7,531 August coefficients shown by a regression program for Pizza Vesuvio's data are: 4,517 Intercept 8.20 X Variable Required: following calculations: use the results of regression to make the 1. Calculate the fixed cost of labor calculate the variable rate per employee hour. per employee hour 2. Construct the cost formula for total labor cost. Total labor cost x Employee hours) employee hours are budgeted. 3. Calculate the budgeted cost for next month, assuming that 640 Round answer to the nearest dollar

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Todays Mood Is Sponsored By Auditing

Authors: Ruby Publishing

1st Edition

B08BG52SST, 979-8655512771

More Books

Students also viewed these Accounting questions

Question

Determine where is increasing. (x) = x 3

Answered: 1 week ago

Question

Define the goals of persuasive speaking

Answered: 1 week ago