Month and Cleaned April May June July August September October Miles Mowed Labor Costs 240 $6,800 305 7,680 325 8,310 275 7,200 220 6,550 200 5,760 75 4,960 Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = $ 3955 + $ 13.4✔ X Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high- low method to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = $ 3,350 + $ 14.07 X X Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 5% increase in wages. Monthly labor costs = $ 325 x + $ 14.07 x X Check
Month and Cleaned April May June July August September October Miles Mowed Labor Costs 240 $6,800 305 7,680 325 8,310 275 7,200 220 6,550 200 5,760 75 4,960 Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = $ 3955 + $ 13.4✔ X Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high- low method to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = $ 3,350 + $ 14.07 X X Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 5% increase in wages. Monthly labor costs = $ 325 x + $ 14.07 x X Check
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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