50.1K
Verified Solution
Link Copied!
PB.9 This problem is in the textbook. Consider the following sales and wage cost information for a restaurant. identify the high and low months
| | Revenue | Wages | | High or Low? |
| January | 11,200 | 5,300 | | |
| February | 13,000 | 6,100 | | |
| March | 14,900 | 6,200 | | |
| April | 19,100 | 7,000 | | |
| May | 22,000 | 9,000 | | |
| June | 24,200 | 9,600 | | |
| July | 26,300 | 9,700 | | |
| August | 27,400 | 10,100 | | |
| September | 23,500 | 8,300 | | |
| October | 20,100 | 7,600 | | |
| November | 18,200 | 8,000 | | |
| December | 16,000 | 7,100 | | |
| Total | $235,900 | $94,000 | | |
Conduct a High-Low analysis of the data to determine Variable Cost % and Fixed Costs in the High and Low months
| | Revenue | Wages | |
| Maximum | | | |
| Minimum | | | |
| Difference or | | | |
| | | | |
| Variable Cost Percentage | | | |
| | | | |
| Maximum Labor Cost | | | |
| Variable Cost for High Data | | | |
| Fixed Cost | | | |
| | | | |
| Minimum Labor Cost | | | |
| Variable Cost for Low Data | | | |
| Fixed Cost Finally, using the calculated Variable Cost %, give the breakdown of Total Annual Wages into Fixed and Variable components | | Percentage | Total Dollars | | Total Annual Wages | | | | Variable Cost | | | | Total Fixed Costs | | | | | | |
Answer & Explanation
Solved by verified expert
