Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures,

Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 30 months. Month Labor Cost Visitors 2,800 4, 269 4,630 3,659 3,909 3,593 3,632 4,408 4,547 5,883 4,901 4,619 3,978 3,848 4,131 3,457 5,594 4,588 3,973 4,896 3,293 2,955 5,381 6,288 4,269 5,392 4,924 5,023 4,136 3,418 1 $26,920 $37,836 $41,671 $32,996 $36, 292 $34,064 $33,387 $39,968 $40,211 $48,932 $43,953 $40,693 $35,911 $34,587 $38,546 $27,629 $31,970 $31,237 $28,766 $31,281 $26,787 $25,706 $30,123 $31,438 $29,317 $33,040 $29,872 $31,202 $29,650 $29,062 6. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Requlred: a. Estimate the labor costs assuming 3,600 visitors for the month using the high-low method. (Do not round Intermedlete calculations. Round your final answer to neerest whole doller amount.) LABOR COST
image text in transcribed
Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 30 months. Month 1 2 3 14 5 6 7 9 10 11 12 1 10 15 16 12 1 19 20 21 Labor Cost $26,920 537,836 $41,671 $32,906 536,292 $34,064 $33,387 $39,968 $40,211 $48,932 $43,95 $40,69 $35,91 $34,58 $38,546 $27,629 $31.970 531232 $28766 5:21 $2007 $25,706 30.123 14 32017 $3,te 129,72 331.202 $20.650 $29,062 Visitors 2,800 4,269 4,630 3,659 3,909 3.593 3,632 4,405 4,547 5,883 4,901 4,630 2,978 3,84 4,131 3,45 5,590 4,58 3,27 4.898 3:29 2.955 5331 6,2 4260 5,392 4,924 5,023 4.36 3.48 Required: a. Estimate the labor costs assuming 3,600 visitors for the month using the nigh-low method (Do not round Intermediate calculations. Round your final answer to nearest whole dollar amount.) Laborat

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

Step: 3

blur-text-image

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

Audit Analytics In The Financial Industry

Authors: Jun Dai

3rd Edition

1787430863, 9781787430860

More Books

Students also viewed these Accounting questions

Question

What is Spoofing Identity attack in STRIDE?

Answered: 1 week ago