Question: 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

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 PERIOD OUTPUT IN UNITS HOURS WORKED 11423 3.238 20,325 4,341 5 22,432 4,983 13.?64- 3.236 SOLUTION: 15.?85 3,349 VARIABLE AND FIXED COST ESTIMATES: VARIABLE HUURSIUNIT FIXED HOURS HIGHLOW SEMI-AVERAGES SIMPLE REGRESSIDN

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