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MULTIPLE REGRESSION
The least square regression equation discussed above was based on the assumption that total cost was determined by only one activity based variable. However, other variables are likely to affect labour costs such as labour hours, material costs, machine hours, etc. These may have an effect on labour costs.
The equation for the simple regression can be expanded to include more than one independent variable as shown below:
Y = a + b1X1 + b2 X2 + b3 X3 +………+bn Xn
For two independent variables, the function will be of the form:
Y = a + b1X1 + b2 X2
The normal equations can be given by:∑y = na + b1 ∑X1 + b2∑x2∑X1Y = a∑x1 + b1∑X12 + b2 ∑X1 ∑X2∑X2 Y = a∑x2 + b1∑ X 1∑X2 +b2 ∑X2 Normally computers are used for the solution of multiple regression.
Carrying costs of inventory These are costs incurred because the firm has decided to maintain inventories. They generally consist of: • Stock-out costs • Insurance co
Working Capital management is affected through two characteristics of current assets that are as follows (i) short life span (ii) swift transformation in the other asset forms.
a certain company makes 3 products A,B and C and they use the same raw material zhong.details about each product is as follows.production units are 10 000 for A,8 000 for B,12 000
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Define Activities based costing by horngren According to horngren " ABC is a system that focuses on activities as fundamental cost object and utilizes cost of these activi
If a company creates sales to a number of customers on credit terms this will have to wait for two or still three months before its debtors pay that they owe. It means that the deb
During 2010, Jackson Company estimated that its manufacturing employees would work 80,000 direct labor hours. During the year the company actually worked 75,000 direct labor hours.
1. Calculate the manufacturing costs for the year. 2. Prepare a statement of cost of goods manufactured. 3. Prepare an income statement (assume an income tax 25%)
Linear Programming This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured
what are the factors should be considered before terminated the operation of a losing firm??
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