Question
The following four months of data were collected on utility cost and the number of labor hours in a factory. Month Utility cost Labor hours
The following four months of data were collected on utility cost and the number of labor hours in a factory.
| Month | Utility cost | Labor hours |
| January | $68,200 | 1,800 |
| February | 61,650 | 1,440 |
| March | 69,400 | 1,860 |
| April | 58,750 | 1,150 |
What would be the estimate of electricity cost if the factory incurred 1,950 labor hours next month? Please round any numbers used in this calculation to two decimal places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Just In Time Accounting How To Decrease Costs And Increase Efficiency
Authors: Steven M. Bragg
3rd Edition
0470403721, 978-0470403723
