Cost Accounting Refer to the table below. Assume that the company involved now finds that the...

Cost Accounting

Refer to the table below. Assume that the company involved now finds that the learning rate is 90 percent. The 90 percent learning rate coefficient is -0.152003; that is b = -0.152003 in the formula Y = aX^b.

Required:

Using the formula, Y = aX^b, compute the labor time and costs for 5, 6, and 7 units. (Round your intermediate calculations (except for coefficient) and final answers to 2 decimal places.

Unit Produced (X)	Labor Time Required to Produce the Xth Unit (i.e., the last single unit produced)1 (Y)	Cumulative Total Time in Labor- Hours(2)	Total Cost(3)	Average Cost per Unit(4)
1	100.00	100.00	$5,000.00	$5,000.00
2	90.00	190.00	9,500.00	4,750.00
3	84.62	274.62	13,731.03	4,577.01
4	81.00	355.62	17,781.03	4,445.26
5
6
7
8	72.90	657.37	32,868.63	4,108.58

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Expert Solution

ekkarill92 answered 1 year ago

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