Develop an estimate of fixed and variable costs for labor expenses based on the data presented...
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Develop an estimate of fixed and variable costs for labor expenses based on the data presented below. Determine your estimates by using the high-low and semi-averages methods and simple regression. Data for Variable Fixed Cost Example SOLUTION: PERIOD 1 OUTPUT IN UNITS HOURS WORKED 17,423 3,231 2 20,325 4,341 3 15,785 3,349 4 21,342 4,364 5 22,432 4,983 6 13,764 3,236 HIGH-LOW SEMI-AVERAGES SIMPLE REGRESSION VARIABLE AND FIXED COST ESTIMATES: VARIABLE HOURS/UNIT FIXED HOURS Develop an estimate of fixed and variable costs for labor expenses based on the data presented below. Determine your estimates by using the high-low and semi-averages methods and simple regression. Data for Variable Fixed Cost Example SOLUTION: PERIOD 1 OUTPUT IN UNITS HOURS WORKED 17,423 3,231 2 20,325 4,341 3 15,785 3,349 4 21,342 4,364 5 22,432 4,983 6 13,764 3,236 HIGH-LOW SEMI-AVERAGES SIMPLE REGRESSION VARIABLE AND FIXED COST ESTIMATES: VARIABLE HOURS/UNIT FIXED HOURS
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Estimating Labor Expenses Fixed vs Variable Costs Heres how to estimate fixed and variable costs for labor expenses using the provided data and three ... View the full answer
Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
Posted Date:
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