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Please help with these ASAP. I don't understand what I am doing wrong. Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for
Please help with these ASAP. I don't understand what I am doing wrong.
Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours $7,200 January 420 February $10,099 610 March $8,340 730 April $9,987 670 May $8,690 540 $7,731 June 410 July $9,690 630 $7,650 August 370 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $6940 ($1.92 x Employee Hours) Required: Assume that 695 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. Round your answer to nearest whole number. $7,200 January 420 February $10,099 610 March $8,340 730 April $9,987 670 $8,690 May 540 $7,731 June 410 July $9,690 630 $7,650 August 370 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost $6940 ($1.92 x Employee Hours) Required: Assume that 695 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. Round your answer to nearest whole number. $1,334.40X 2. Calculate total labor cost for September. Round your answer to nearest whole number. $8,274.40Step by Step Solution
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