Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher

Exercise 3

Learning Curves (Appendix B)Refer to the example in Appendix B. The numbers in Exhibit 5.18 for the fifth, sixth, and seventh units were given.
Required
Using the formula Y = aX b and the data given in the problem, verify the labor time required and the cost amounts for the fifth, sixth, and seventh units. ("Verify" means that you should check the accuracy of the amounts given in Exhibit 5.18.)