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The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The...

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Accounting

The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The following production information is available:
Year 2015 2016 2017 2018 2019 2020
Mugs Produced 1,150 1,600 1,100 2,100 1,500 1,300
Labor-Hours 850 975 800 1,150 950 875
Labor Cost $8,400 $9,000 $7,900 $10,700 $9,700 $9,900
a. Develop an equation for labor costs using the high-low method of cost estimation.

Fixed Costs no decimals

Variable Cost per Unit two decimals

b. Predict total costs for an annual usage of 3,500 labor hours.

Total Costs no decimals

The Ferb Products Company needs to predict the labor cost in producing made-to-order mugs. The following production information is available:
Year 2015 2016 2017 2018 2019 2020
Mugs Produced 1,150 1,600 1,100 2,100 1,500 1,300
Labor-Hours 850 975 800 1,150 950 875
Labor Cost $8,400 $9,000 $7,900 $10,700 $9,700 $9,900
a. Develop an equation for labor costs using the high-low method of cost estimation.

Fixed Costs no decimals

Variable Cost per Unit two decimals

b. Predict total costs for an annual usage of 3,500 labor hours.

Total Costs no decimals

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