Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output
Pizza Vesuvio makes specialty pizzas. Data for the past eight months were collected:
Assume that this information was used to construct the following formula for monthly labor cost.
Total Labor Cost = $5229 + ($6.77 x Employee Hours)
Assume that 675 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations:
1. Calculate total variable labor cost for September. Round your answer to nearest whole number.
2. Calculate total labor cost for September. Round your answer to nearest whole number.
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