User Account

All Pages

Calculate total variable labor cost for the coming year

Assignment Help Accounting Basics
Reference no: EM132709200

Question - Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period that Differs from the Data Period Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected:

Month Labor Cost Employee Hours

January $7,300 370

February 10,199 560

March 8,440 670

April 10,087 620

May 8,790 490

June 7,831 360

July 9,790 580

August 7,750 320

Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $7,120 + ($1.97 X Employee Hours).

Required - Assume that 3,800 employee hours are budgeted for the coming year. Use the total labor cost formula to make the following calculations:

1. Calculate total variable labor cost for the coming year. Round your answer to the nearest dollar.

2. Calculate total fixed labor cost for the coming year. Round your answer to the nearest dollar.

3. Calculate total labor cost for the coming year. Round your answer to the nearest dollar.

Reference no: EM132709200

Questions Cloud

Discuss whether you believe that taxes paid by businesses : Discuss whether you believe that the taxes paid by businesses are excessive (consider the % required and the level of payroll that is taxed)
Prepare a necessary journal entry to record this transaction : On October 18, Foxtrot Inc. completed a design project and billed the customer $1,150. Prepare a necessary journal entry to record this transaction
Indicate the tax consequences of the events : Indicate the tax consequences of the events in 2018, 2019, and 2020 on Mr. Farrow's Net Income For Tax Purposes and on his Taxable Income
The set of knowledge domains applied to the analysis : When should the architect begin the analysis? What is the set of knowledge domains applied to the analysis?
Calculate total variable labor cost for the coming year : Assume that this information was used to construct the following formula for monthly labor cost. Calculate total variable labor cost for the coming year
Leveraged cloud computing technologies : Select an organization that has leveraged Cloud Computing technologies to improve profitability or to give them a competitive advantage.
What are the core value propositions to accounting : Accounting students often complain that teamwork is time consuming, What are the 3 core value propositions to accounting students to engage in teamwork
Describe missing values and pick a technique : Describe missing values and pick a technique that we have not discussed in this class to handle them.
Explain the ethical problem in this case : Liona's role includes managing the business affairs of the firm, Explain the ethical problem in this case. Why is it a problem

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd