Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours   January   9,490     550   February   7,000     630   March   7,531     670   April   8,140     500   May   9,787     590   June   8,490     460   July   12,872     760   August   7,500     420 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the variable rate per employee hour to the nearest cent. If required, round your final answers to the nearest cent. Required: 1.  Using the high-low method, calculate the fixed cost of labor. $________ 2.  Using the high-low method, calculate the variable rate. $_________ 3.  Using the high-low method, construct the cost formula for total labor cost. Total labor cost = $ _______ + ($__________ × Employee hours)

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Cost Behavior Analysis in a Restaurant: High-Low Cost Estimation Assume a Papa John's restaurant has the following information available regarding costs at representative levels of monthly sales: Cost of food sold Wages and fringe benefits Fees paid delivery help Rent on building Depreciation on equipment Utilities Supplies (soap, floor wax, etc.) Administrative costs Total Monthly sales in units 5,000 8,000 10,000 $15,000 $24,000 $30,000 4,350 4,560 4,700 1,300 2,080 2,600 1.300 1,300 1,300 400 400 400 750 840 900 150 180 200 1.500 1.500 1,500 $24.750 $34,860 $41,600 (a) Identify each cost as being variable, fixed, or mixed. Cost of food sold Wages and fringe benefits Fees paid delivery help Rent on building Depreciation on equipment Variable # Mixed ● Variable ÷ Fixed Fixed

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A firm makes a range of running shoes. There are three models – Short; Middle; and Long distance. The products are aimed at different segments of the market. Product costs are computed using an overhead rate based on the labour hour method. Selling prices are set on full cost plus 20%. A unit refers to a pair of running shoes. The following information is available:     Short distance Middle distance Long distance Direct material cost per unit $25 $35 $40 Labour hours per unit 2 hrs 2 hrs 2 hrs Labour rate per hour $12 $12 $12 Total labour hours used 120,000 hrs 24,000 hrs 16,000 hrs Total number of units 60,000 units 12,000 units 8,000 units   Cost driver information:     Short distance Middle distance Long distance No. of machine hours 60,000 48,000 48,000 No. of material orders 30 100 200 No. of sales orders 12 48 63   The total overhead costs for the business amount to $1.2…