Harbor Banquets recorded the following data for recent events: • . High guest count: 20,000 with labor costs of $30,600 Low guest count: 14,000 with labor costs of $22,200 Using the high-low method, determine: 1. The variable cost per guest 2. The total fixed costs (confirm using both high and low data)

Harbor Banquets recorded the following data for recent events: • . High guest count: 20,000 with labor costs of $30,600 Low guest count: 14,000 with labor costs of $22,200 Using the high-low method, determine: 1. The variable cost per guest 2. The total fixed costs (confirm using both high and low data)

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 20BEA: Using Regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cost Formula, and...

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