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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
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
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