Name 4 approaches to estimating a cost function ?
1. Industrial engineering method
2. Conference method
3. Account analysis method
4. Quantitative analysis of current or past cost relationships
Learn More :
Managerial Accounting
- Define Opportunity Cost.
- Can the constant in the cost function be used as an estimate for fixed cost (when calculating maintenance, etc.)?
- Describe the account analysis method for estimating a cost function.
- Describe three alternative linear cost functions ?
- What two assumptions are frequently made when estimating a cost function?
- Define Cost-Volume-Profit Analysis ?
- Define Operating Leverage ?
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.