London Company makes hearing aids.London has found that total electricity cost for the factory can be represented by the following formula: total annual electricity cost = $165,000 + $2.75x,where x = labour hours.Last year,London incurred 225,000 labour hours.
Required:
A. What is the independent variable in London’s cost formula?
B. What was the total electricity cost incurred by London last year?
C. What would be London Company’s estimated electricity cost for next year if they have budgeted 245,000 labour hours?

Question

London Company makes hearing aids.London has found that total electricity cost for the factory can be represented by the following formula: total annual electricity cost = $165,000 + $2.75x,where x = labour hours.Last year,London incurred 225,000 labour hours.
Required: 
A.	What is the independent variable in London’s cost formula?
B.	What was the total electricity cost incurred by London last year?
C.	What would be London Company’s estimated electricity cost for next year if they have budgeted 245,000 labour hours?

Quizplus · Accepted Answer

The Answer of London Company makes hearing aids.London has found that total electricity cost for the factory can be represented by the following formula: total annual electricity cost = $165,000 + $2.75x,where x = labour hours.Last year,London incurred 225,000 labour hours.
Required: 
A.	What is the independent variable in London’s cost formula?
B.	What was the total electricity cost incurred by London last year?
C.	What would be London Company’s estimated electricity cost for next year if they have budgeted 245,000 labour hours?

London Company Makes Hearing Aids