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The Stephens Leadership Centre provides training seminars in personal development and time management. The company is relatively new and management is seeking information regarding the Centre's cost structure. The following information has been gathered since the inception of the business in January of the current year:
Seminars offered Costs incurred
January 10 $17,000
February 12 $18,800
March 15 $20,900
April 18 $23,762
May 16 $21,800
June 13 $19,400
Required:
Using the high-low method:
Question A. Calculate the variable cost per seminar
Question B. Calculate fixed cost per month
Question C. Based on the variable cost per seminar and fixed cost per month calculated in A and B above, determine the cost equation for seminars.
Question D. Assume that in July, Stephen's Leadership Centre organized 25 seminars, use the cost equation determined in C above to calculate the total cost
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