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Determining the cost function using an example

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Reference no: EM132530523

The management of westralia ltd. has concerns that they do not know enough about the relationship between cost and profit. discussing the difficulties they may face in gathering the information they might need to carry out an analysis of the cost behavior and the development of a cost function.

Question 1: Include the benefits the company can derive from a full understanding of cost behavior. Also describing the various methods of determining the cost function using an example to explain.

Reference no: EM132530523

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