The Stephens Leadership Center Provides Training Seminars in Personal Development

question 21

Essay

The Stephens Leadership Center provides training seminars in personal development and time management.The company is relatively new and management is seeking information regarding the Center's cost structure.The following information has been gathered since the inception of the business in January of the current year: $\begin{array}{lcc}\text { Month }&\text { Seminars Offered } & \text { Costs Incurred } \\\text {January }&10 & \$ 17,000 \\\text {February }&12 & \$ 18,800 \\\text {March }&15 & \$ 20,900 \\\text {April }&18 & \$ 23,762 \\\text {May }&16 & \$ 21,800 \\\text {June }&13 & \$ 19,400\end{array}$
Required:
a.Using the high-low method,estimate the variable cost per seminar and the total fixed cost per month.
b.Using the least-squares method,estimate the variable cost per seminar and the total fixed cost per month.

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Definitions:

Peers Influence

Refers to the impact that peers, or individuals within the same social group, can have on one’s attitudes, values, and behaviors.

Emerging Adulthood

A phase of life between adolescence and full-fledged adulthood, which encompasses late teens through early twenties, characterized by exploration and self-discovery.

Life Phase

A period or stage in the existence of an organism or entity, often marked by distinct characteristics or conditions.

Graduate School

An advanced level of higher education where students specialize in a particular field or discipline after earning an undergraduate degree.