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Please answer the attached. Also, could you please give me the process of how the problem was solved? Angie March owns a catering company that
Please answer the attached. Also, could you please give me the process of how the problem was solved?
Angie March owns a catering company that stages banquets and parties for both individuals and companies. The business is seasonal, with heavy demand during the summer months and year- end holidays and light demand at other times. Angie has gathered the following cost information from the past year: Overhead Month Labor Hours January Februar March April May June July August September October November December Costs 3,500 2,800 3,000 4,200 4,500 5,500 6,500 7,500 7,800 4,500 3,100 6,500 59,400 $69,000 65,480 66,000 71,000 74,000 79,000 82,000 85,000 88,480 75,000 69,000 81,000 $904,960 Total Using the high-low method, compute the overhead cost per labor hour and the fixed overhead cost per month. (Round variable cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Variable cost per labor hour Fixed costStep by Step Solution
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