High-Low Analysis Land O'Lakes is looking to estimate total labor costs for next year as the need for additional labor arises. Total labor costs are mixed between both a variable portion and a fixed portion. Total labor cost and activity data has been supplied for the past five years. 1) Please establish what the y and x values represent in the cost formula. 2) Please establish the high and low points which will be used in the high-low method. 3) Using the high-low method, please calculate the variable cost per unit, as well as the total fixed costs. 4) Using the regression function in Excel, please determine the variable cost per unit, as well as the total fixed costs. To determine the variable cost per unit (or slope), type "=slope(" in the fx bar at the top of the screen. Upon doing so, it will provide instruction on how to complete that fuction in Excel. You will end up with "=slope(known y's, known x's)"

High-Low Analysis Land O'Lakes is looking to estimate total labor costs for next year as the need for additional labor arises. Total labor costs are mixed between both a variable portion and a fixed portion. Total labor cost and activity data has been supplied for the past five years. 1) Please establish what the y and x values represent in the cost formula. 2) Please establish the high and low points which will be used in the high-low method. 3) Using the high-low method, please calculate the variable cost per unit, as well as the total fixed costs. 4) Using the regression function in Excel, please determine the variable cost per unit, as well as the total fixed costs. - To determine the variable cost per unit (or slope), type "=slope(" in the fx bar at the top of the screen. Upon doing so, it will provide instruction on how to complete that fuction in Excel. You will end up with "=slope (known y's, known x's)" - To determine the total fixed cost (or intercept), type "=intercept(" in the fx bar at the top of the screen. Upon doing so, it will provide instruction on how to complete that fuction in Excel. You will end up with "=intercept(known y's, known x's)" 5) Using both the high-low method data calculated above and the regression data calculated above, please estimate total labor cost at 95,000 direct labor hours. CHECK FIGURES: - High Low Variable Cost Rate =$16.05 - High Low Total Fixed Costs =$85,263 - Regression Variable Cost Rate =$15.86 - Regression Total Fixed Costs =$103,399 - High Low Labor Cost @ 95,000 Direct Labor Hours =\$1,610,263 - Regression Labor Cost @ 95,000 Direct Labor Hours =$1,610,090 Great job completing Excel Case \#1! High-Low Analysis Land O'Lakes is looking to estimate total labor costs for next year as the need for additional labor arises. Total labor costs are mixed between both a variable portion and a fixed portion. Total labor cost and activity data has been supplied for the past five years. 1) Please establish what the y and x values represent in the cost formula. 2) Please establish the high and low points which will be used in the high-low method. 3) Using the high-low method, please calculate the variable cost per unit, as well as the total fixed costs. 4) Using the regression function in Excel, please determine the variable cost per unit, as well as the total fixed costs. - To determine the variable cost per unit (or slope), type "=slope(" in the fx bar at the top of the screen. Upon doing so, it will provide instruction on how to complete that fuction in Excel. You will end up with "=slope (known y's, known x 's)