Question: Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours January $7,000 400 February $9,899 590 March $8,140 700 April $9,787 650 May $8,490 520 June $7,531 390 July $9,490 610 August $7,450 350 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $6761 + ($1.97 x Employee Hours) Required: Assume that 675 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. Round your answer to nearest whole number 1,329.76 X 2. Calculate total labor cost for September. Round your answer to nearest whole number. 8,090.76 X

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