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Status Resources We had classified constraints as scarce and abundant, depending respectively on whether or not the optimum solution "consumes" the entire available amount of t
Testing the Slope The strong point of the relationship among the dependent variable and each of the independent variables can be determined using 3 methods: 1) Correlation
Material usage variance Difference among standard quantity of material and actual quantity used is the material usage variance. This variance arises due to: Economic use of
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What is Direct material cost variance It can be defined as the difference between the standard costs of direct material specified and the actual cost of direct material used.
Independence of observations An important assumption for the simple linear regression model is the independence of errors. In many time series models, this assumption is violat
Cost concept . techniques of costing . absorption costing
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Explain Activities uses through activities based costing In order to correctly associate costs with products and services. ABC assigns cost to activities based on their use of
When to order-Material control If deliveries from suppliers normally take two weeks to arrive, then replenishment orders should be placed with them when the level of stocks rep
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