Discuss the different methods of cost estimation

Assignment Help Financial Accounting
Reference no: EM132472397 , Length: word count :- 500

Use the following data to generate a quote model for future business. This can be accomplished by performing a high-low or regression analysis to generate an equation relating direct labor hours to product cost

Year

Quarte

r

Direct labor

hrs.

Manufacturing

cost

2014

Q1

2,512

$224,950

2014

Q2

2,432

$214,100

2014

Q3

2,645

5226,840

2014

Q4

2,723

$228.760

2015

Q1

2,355

 $211;950

Within your analysis, make sure to include the following: 

Question 1: Explain how jobs can be estimated by using a quote model based on previous data.

Question 2: Discuss the different methods of cost estimation.

Question 3: Prepare a bid for a job that would require 2,700 direct labor hours.

  • Your justification should be between 350 to 500 words in length

Reference no: EM132472397

Questions Cloud

Determine journal entries would be use to record transaction : Green Company purchases a 2-year comprehensive insurance policy for $2,400. Which of the journal entries would be used to record the transaction?
How you used keyword to search on clinical issue of interest : Describe how you used keywords to search on your chosen clinical issue of interest. Identify the four research databases that you used to conduct your search.
ENGT5261 Building Performance Modelling Assignment : ENGT5261 Building Performance Modelling Assignment Help and Solution, De Montfort University - Assessment Writing Service - building energy simulation exercises
What is the budgeted production in units : What is the budgeted production (in units) for 2016? Magnolia Candle Inc. projected sales of 75,000 candles for 2016. The estimated January 1, 2016
Discuss the different methods of cost estimation : Explain how jobs can be estimated by using a quote model based on previous data. Discuss the different methods of cost estimation.
Explain how a master budget can be a useful tool in aligning : Generate a quarterly budget for the upcoming year that includes sales, production, materials and labor budgets. Assume a 10% increase in sales.
Write detail description of the scripts list : You need to write detail description of the scripts list and it is advantage - In Zed Attack proxy (ZAP) - Fuzzer WebSocket Processor
Discuss the advantages of each inventory costing assumption : Calculate the cost of goods sold and ending inventory for each cost flow assumption. Brie?y discuss the advantages of each inventory costing assumption.
Describe the impact of diabetes on healthcare costs : Research Topic and Outline: First, select a Research Paper TOPIC that can be assessed using health care economics principles. Please choose from the following.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Which internal control principle is being violated

Joe Jones has been a trusted employee for over 10 years. He is responsible for ordering merchandise inventory, receiving the inventory items, and authorizing the payment for these items. Which internal control principle, if any, is being violated?

  What is the profit or loss associated with copper

Allocate the joint costs using the relative sales values. With these costs, what is the profit or loss associated with Copper?

  Annual deposit must he make to fund this retirement account

(Future Value of a Complex annunity) Springfield mogul Montgomery Burns, age 70, wants to retire at 100 so he can steal candy from babies full time. Once Mr. Burns retires, he wants to withdraw $1.1 billion at the beginning of each year for 8 years f..

  Question 1 bures jeep tours operates jeep tours in the

question 1. bures jeep tours operates jeep tours in the heart of the colorado rockies. the company bases its budgets on

  Determine the sampling distribution for the sample mean

Determine the sampling distribution for the sample mean, X' and calculate the mean and the standard deviation for X' and Determine whether X' is an unbiased estimator for μ.

  The marketing concept holds

The marketing concept holds that ________.

  Prepare journal entries to record the above transaction

a corporation had A shares of $B par value common stock outstanding when the board of directors declared a stock dividend of $C shares. At the time of the stock dividend, the market value per share was $D. prepare journal entries to record the abo..

  Explain why is direct labor a poor base for allocating over

Explain why is direct labor a poor base for allocating overhead in many companies? In what situation would it be a strong and better way to allocate overhead? What bases do you feel are the most commonly used by most large companies? Explain.

  What is this? firm after-tax? wacc

Pfd Company has debt with a yield to maturity of 7.4 % a cost of equity of 12.8 % and a cost of preferred stock of 9.7 %. The market values of its? debt

  With respect to the distribution in redemption

Bristlebird Corporation (E&P of $700,000) has 3,000 shares of common stock outstanding. Juan owns 1,500 shares and his wife, Roberta, owns 1,500 shares. Juan and Roberta each have a basis of $90,000 in their Bristlebird stock. In the current year, Br..

  Determine the terms of the social contract

How would corporate management of Westpac determine the terms of the social contract? What would be the implications for a firm if it breached the terms of the contract? What were the mistakes referred to by Mr Hawker?

  Journalize the annual adjusting entries that were made

Journalize the annual adjusting entries that were made. Prepare an income statement and a statement of retained earnings for the year ending December 31, 2014 and an unclassified balance sheet at December 31.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd