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
Related questions
Question
![Miles Mowed Labor
Month and Cleaned Costs
240 $6,800
305 7,680
325
8,310
275 7,200
220 6,550
200
5,760
75
4,960
April
May
June
July
August
September
October
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 + $
= $
Check
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
14.07 X X
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2544b074-24fb-4c8c-9c46-194a4d33d8d8%2F654d9f65-08da-407d-9518-78641d87cfa4%2Ftuij27_processed.png&w=3840&q=75)
Transcribed Image Text:Miles Mowed Labor
Month and Cleaned Costs
240 $6,800
305 7,680
325
8,310
275 7,200
220 6,550
200
5,760
75
4,960
April
May
June
July
August
September
October
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 + $
= $
Check
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
14.07 X X
$
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