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Using Regression to Calculate Fixed Cost Calculate the Variable Rate Construct a Cost Formula, and Determine Budgeted Cost Pizza Vesuvio makes specialty pizzas Data for the past 8 months were

Using Regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cost Formula, and Determine Budgeted Cost

Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected:

Month   Labor Cost   Employee Hours
January   $7,000   360
February   8,140   550
March   9,899   630
April   9,787   610
May   8,490   480
June   7,450   350
July   9,490   570
August   7,531   310

Coefficients shown by a regression program for Pizza Vesuvio's data are:

Intercept 4,517
X Variable 8.20

In your calculations, round the variable rate per employee hour to the nearest cent.

Required:

Use the results of regression to make the following calculations:

Jun 24 2020 View more View Less

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