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1. Total selling and administrative costs
2. Salaries of supervisors (each supervisor is in charge of five employees)
3. Raw materials used in production
4. Power consumption in a restaurant
5. Cost of goods sold in a restaurant
6. Salaries of employees who handle 20 claims
per month
7. Pulpwood in a paper mill
8. Salaries of two secretaries in the corporate
9. Total current manufacturing costs
10. The cost of an automobile rented on the
basis of a daily charge plus $0.50 per mile
Part II
The Specialty Products Company needs to predict the labor cost in producing made-to-order mugs. The following production information is available:

Mugs Produced


Labor Cost

a. Select the appropriate independent variable for estimating labor cost. describe the reason for your
b. Develop an equation for labor costs using the high-low method of cost estimation, and predict
total costs for an annual usage of 2,000 labor hours.


Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M939611

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