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Please answer and explain the second and third questions Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Coles County Highway Department
Please answer and explain the second and third questions
Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Coles County Highway Department hires temporary employees to mow and clean the right-ofway along county roads. The County Road Commissioner has asked you to help her in determining the vabiable lab mowing and cleaning a mile of road. The following information is available regarding current-year operations: Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. =+ Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high-low method to develop a cost-estimating equation for monthly labor costs. =+] Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 5% increase in wages. =++] Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Coles County Highway Department hires temporary employees to mow and clean the right-ofway along county roads. The County Road Commissioner has asked you to help her in determining the vabiable lab mowing and cleaning a mile of road. The following information is available regarding current-year operations: Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. =+ Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high-low method to develop a cost-estimating equation for monthly labor costs. =+] Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 5% increase in wages. =++]Step by Step Solution
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