Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Will County Highway Department hires temp

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Scatter Diagrams And High Low Cost Estimation From April 1 Through October 31 Will County Highway Department Hires Temp 1 (458.48 KiB) Viewed 11 times

Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Will County Highway Department hires temporary employees to mow and clean the right-of-way along county roads. The County Road Commissioner has asked you to help her in determining the variable labor cost of mowing and cleaning a mile of road. The following information is available regarding current-year operations: Month April May June July August September October Miles Mowed Labor and Cleaned Costs 350 $6,400 300 6,000 400 7,200 250 4,400 375 6,800 200 4,000 100 3,840 Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = $ 2,720 + $ 11.2✔ X Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high-low method to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = $ 0x + $ 0 X X Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 7 percent increase in wages. Monthly labor costs = $ 0x + $ 0 X X