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Choose the relationship which best predicts the dependent variable
After exploring a diversity of relationships, you should select the one that can best be employed in predicting the dependent variable. Generally, this will be the relationship which best predicts the values of the dependent variable. The high correlation (relationship) among a potential independent variable and the dependent variable frequently indicates that the independent variable will be a good predictive tool. Though, you should reassure that the value of the independent variable is accessible in order for you to make timely estimates. When it is not, you might require considering other alternatives.
There are different techniques which can be used to estimate the cost function. Examples comprise: • Engineering technique• Account analysis• Regression analysis• High low technique• Time series analysis• Simulation analysis
Explain the terms - maintenance and improvement Maintenance ; under the maintenance function, the management must first establish policies rules directives and standard operat
h. Production orders that had cost 450,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above
Characteristics of standard costing 1) Flow of information : in a standard costing system cost information flows in a straight forward manner as material is requisitioned and
A firm requires continuously monitoring and controlling its receivables to make sure that the dues are paid on the due date and no dues stay outstanding for a long period of time.
It is a commitment by a bank to lend a specific amount of funds on demand identifies the maximum amount of unsecured credit the bank will allow the customer to borrow at any time.
Advantage of relevant cost
why the activity costing have most comparative bid?
The Work in Process account for Monty's Company contained the following entries: Work in Process Account Debit of $40,000 for direct raw materials Debit of $60,000 for direct labor
Objectives of the cost accounting The Objectives of the cost accounting are ascertain of costs, fixation of selling prices, proper recording and presentation of cost data to th
EXTRA SHIFT DECISION These decisions are concerned with whether or not a company should work for 8 hrs, 16hrs, or 24 hrs a day or week days only or weekends also. The factors
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