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Refer to the table below. Assume that the company involved now finds that the learning rate is 70 percent. The 70 percent learning rate coefficient

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Refer to the table below. Assume that the company involved now finds that the learning rate is 70 percent. The 70 percent learning rate coefficient is -0.514573; that is b=-0.514573 in the formula Y= axb. Required: Using the formula, Y= axb, compute the labor time and costs for 5, 6, and 7 units. (Round your intermediate calculations (except for coefficient) and final answers to 2 decimal places.) Unit Produced (X) Labor Time Required to Produce the Xth Unit (i.e., the last single unit produced)1 (Y) Cumulative Total Time in Labor- Hours(2) Total Cost(3) Average Cost per Unit(4) 1 100.00 100.00 $ $ 5,000.00 4,250.00 2 70.00 5,000.00 8,500.00 11,340.90 170.00 3 56.82 3,780.30 226.82 275.82 4 49.00 13,790.90 3,447.73 5 6 7 8 34.30 430.31 21,515.75 2,689.47

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