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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

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
office
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:
Year
2005
2006
2007
2008
2009
2010

Mugs Produced
2,300
3,200
2,200
4,200
3,000
2,600

Labor-Hours
1,700
1,950
1,600
2,300
1,900
1,750

Labor Cost
\$10,800
\$14,000
\$15,100
\$20,700
\$19,400
\$19,800

a. Select the appropriate independent variable for estimating labor cost. describe the reason for your
selection.
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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