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 eight months

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output

Pizza Vesuvio makes specialty pizzas. Data for the past eight months were collected:

Month Labour Cost ($) Employee Hours
January $7,300 410
February $8,440 600
March $10,199 710
April $10,087 660
May $8,790 530
June $7,750 400
July $9,790 620
August $7,831 360

Assume that this information was used to construct the following formula for monthly labour cost.

Total Labour Cost = $4,319 + ($8.28 x Employee Hours)

Required:

Assume that 695 employee hours are budgeted for the month of September. Use the total labour cost formula for the following calculations:

1. Calculate total variable labour cost for September. Round your answer to nearest dollar.

2. Calculate total labour cost for September. Round your answer to nearest dollar.

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