Variable cost per customer and the monthly fixed labor cost

Assignment Help Operation Management

Reference no: EM131714847

1 Jim Jones, the owner of Jim’s Place, wants to analyze labor costs in his restaurant operations and has asked you to for assistance. The operating statistics for the previous year are as follows:

Month Number of Customer Labor Costs

January 2,200 $10,500

February 2,300 10,650

March 3,700 18,500

April 4,450 19,000

May 4,400 19,000

June 4,800 20,250

July 4,900 20,400

August 5,400 21,000

September 3,800 18,000

October 3,100 15,500

November 2,900 15,250

December 3,000 16,650

Requirements:

Using regression via Excel spreadsheet, determine the variable cost per customer and the monthly fixed labor cost (copy-paste Excel printout here).

If 5,500 customers are served in a month, what should be the variable labor cost, fixed labor cost and total labor costs based on the regression model?

Reference no: EM131714847

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