Following is the electricity cost for the last year at RiverCity Die and Machine Shop
There are two possible cost drivers, labor hours and Machinehours. Use Microsoft Excel to solve.
1.Compute the coefficients for each driver
2.Compute the projected total cost of electricity assuming aprojected 8,000 labor hours
3.Explain the significance of the calculation.
Cost
LH
MH
Jan
26000
5500
8100
Feb
28500
6000
9000
Mar
23000
5600
11000
Apr
31000
6500
9600
May
36000
7500
11500
Jun
40000
8900
12500
Jul
42000
9100
15500
Aug
41000
9200
11000
Sep
35500
7400
10500
Oct
30000
6000
8000
Nov
28000
5100
8200
Dec
26000
4900
7400
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