Question: CleanTech Solutions, an environmental consultancy, needs to analyze its project costs based on project hours. Data Collected: Project A: Total Costs: $50,000, Hours Worked: 500

  • CleanTech Solutions, an environmental consultancy, needs to analyze its project costs based on project hours.
  • Data Collected:
    • Project A: Total Costs: $50,000, Hours Worked: 500
    • Project B: Total Costs: $80,000, Hours Worked: 800
  • Tasks:
    • Use the High-Low Method to determine the variable cost per hour and fixed costs.
    • Develop a cost equation.
    • Predict costs for a project requiring 1,000 hours.
    • Analyze the cost-effectiveness of hiring additional consultants.

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