Conference method for estimating a cost function

Reference no: EM13133380

1) Describe the conference method for estimating a cost function. what are two advantages of this method?

2) Describe the accounting analysis method for estimating a cost function. What is the advantage of the other methods.

3) List the six steps in estimating a cost function on the basis of an analysis of a past cost relationship. Which step is typically the most difficult for the cost analyst?

4) When using the high-low method, should you base the high and low observations on the dependent variable or on cost driver?

5) Describe three criteria for evaluating cost functions and choosing cost drivers.

Reference no: EM13133380

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