Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This is the second time I post the same question I donno why u don't answer!!! I need second and third part plz urgently Q5:
This is the second time I post the same question I donno why u don't answer!!! I need second and third part plz urgently
Q5: Ahmad owns a catering company, has gathered the following overhead cost information for the past six months: Month Labour Hours Overhead cost July 13,500 $23,400 August 13,200 23,500 September 14,100 26,000 October 15,100 28,300 November 15,300 28,200 December 14,800 27,500 Required: 1- Using the high-low method, determine the variable overhead cost per machine hour and the monthly fixed overhead cost. Estimate the total variable overhead costs and fixed overhead costs if 14600 labor hours are projected to be used next month. [4 Marks] 2- Using the scatter diagram method, variable overhead cost per machine hour and the monthly fixed overhead cost. Estimate the total variable overhead costs and fixed overhead costs if 14600 labor hours are projected to be used next month. (You should use Excel to graph the data. Copy your chart and paste below).[4 Marks] 3- Which Cost estimation method more accurate; the high low method or the scatter diagram method? Explain your answer. [2 marks]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