Homework Answers
Highest hours are 430 and lowest hours are 240.
1.
Variable cost = ($10,526 - $7,600) / (430 - 240) = $15.40 per employee hour
2.
Fixed cost = $10,526 - (430 X $15.40) = $3,904
3.
Total labor cost = $3,904 + ($15.40 X Employee hours)
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January 9,590 February 7,100 March 7,631 April 8,240 May 9,887 June 8,590 260 July 10,526 7,600...
can someone help me understand these problem please? Month Labor Cost($) Employee Hours January 9,590 530...
can someone help me understand these problem
please?
Month Labor Cost($) Employee Hours January 9,590 530 February 7,100 620 March 7,631 660 April 8,240 490 May 9,887 570 June 8,590 450 July 12,682 740 August 7,600 410 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the variable rate per employee hour to the nearest cent. If required, round your final answers to the nearest cent. Required:...
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Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,590 550 February 7,100 630 March 7,631 670 April 8,240 500 May 9,887 590 June 8,590 460 July 13,380 760 August 7,600 420 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,590 430 February 7,100 500 March 7,631 530 April 8,240 400 May 9,887 460 June 8,590 360 July 11,864 590 August 7,600 330 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Last year, Phillips Company produced 300,000 units and sold 280,000 units. Beginning inventory was zero. During...
Last year, Phillips Company produced 300,000 units and sold 280,000 units. Beginning inventory was zero. During the period, the following costs were incurred: Indirect labor (variable) $900,000 Indirect materials (variable) 600,000 Other variable manufacturing overhead 1,500,000 Fixed manufacturing overhead 2,400,000 Fored administrative expenses 300,000 Fixed ng expenses 450,000 Variable selling expenses, per unit Direct labor, per unit Direct materials, per unit Required: A. Compute the dollar amount of ending inventory using the Absorption costing B. Compute the dollar amount of...
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Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,290 310 February 6,800 360 March 7,331 380 April 7,940 290 May 9,587 340 June 8,290 260 July 10,378 ...
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Using High-Low to Calculate Fixed Cost Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,490 510 February 7,000 590 March 7,531 620 April 8,140 470 May 9,787 550 June 8,490 430 July 12,708 700 August 7,500 390 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours 9,390 January 400 February 6,900 470 March 7,431 500 8,040 April 370 May 9,687 430 June 8,390 340 July 11,850 560 August 7,400 310 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,290 510 February 6,800 590 March 7,331 620 April 7,940 470 May 9,587 550 June 8,290 430 July 12,508 700 August 7,300 390 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past eight months were collected: Month Labor Cost($) Employee Hours January 5,896 260 February 8,623 390 March 9,286 420 April 6,854 310 May 7,960 360 June 6,412 290 July 7,750 440 August 7,517 340 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant In your calculations, round the...
Please help with these ASAP. I don't understand what I am doing wrong. Using High-Low to...
Please help with these ASAP. I don't understand what I am doing
wrong.
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month January Labor Cost($) Employee Hours 9,690 510 7,200 7,731 620 February 590 March April 8,340 470 May 9,987 June 8,690 July 12,846 August 7,700 390 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with...
can someone help me understand these problem
please?
Month Labor Cost($) Employee Hours January 9,590 530 February 7,100 620 March 7,631 660 April 8,240 490 May 9,887 570 June 8,590 450 July 12,682 740 August 7,600 410 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the variable rate per employee hour to the nearest cent. If required, round your final answers to the nearest cent. Required:...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,590 550 February 7,100 630 March 7,631 670 April 8,240 500 May 9,887 590 June 8,590 460 July 13,380 760 August 7,600 420 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,590 430 February 7,100 500 March 7,631 530 April 8,240 400 May 9,887 460 June 8,590 360 July 11,864 590 August 7,600 330 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Last year, Phillips Company produced 300,000 units and sold 280,000 units. Beginning inventory was zero. During the period, the following costs were incurred: Indirect labor (variable) $900,000 Indirect materials (variable) 600,000 Other variable manufacturing overhead 1,500,000 Fixed manufacturing overhead 2,400,000 Fored administrative expenses 300,000 Fixed ng expenses 450,000 Variable selling expenses, per unit Direct labor, per unit Direct materials, per unit Required: A. Compute the dollar amount of ending inventory using the Absorption costing B. Compute the dollar amount of...
Using High-Low to Calculate Fixed Cost Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,490 510 February 7,000 590 March 7,531 620 April 8,140 470 May 9,787 550 June 8,490 430 July 12,708 700 August 7,500 390 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours 9,390 January 400 February 6,900 470 March 7,431 500 8,040 April 370 May 9,687 430 June 8,390 340 July 11,850 560 August 7,400 310 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the...
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past eight months were collected: Month Labor Cost($) Employee Hours January 5,896 260 February 8,623 390 March 9,286 420 April 6,854 310 May 7,960 360 June 6,412 290 July 7,750 440 August 7,517 340 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant In your calculations, round the...
Please help with these ASAP. I don't understand what I am doing
wrong.
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month January Labor Cost($) Employee Hours 9,690 510 7,200 7,731 620 February 590 March April 8,340 470 May 9,987 June 8,690 July 12,846 August 7,700 390 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with...
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