Question 1 10 Points Grindgood Company operates a chain of cozy coffee shops. The company's...
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Accounting
Question 1
10 Points
Grindgood Company operates a chain of cozy coffee shops. The company's chief executive officer is interested in accumulating some information on the overhead costs incurred by the company. You have been asked to analyze the following six months' worth of data.
Month Overheadcost No. of labor Hours
April
60,160
867
May
56,500
624
June
58,900
689
July
63,500
974
August
59,325
730
September
62,400
901
Using the high-low method, construct a cost formula for the total overhead cost.
Total overhead cost = Fixed cost + Variable cost
= $ + ($ per hour Number of labor hours)
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