Describe the conference method for estimating a cost, Ask an Expert

Accounting

1) Describe the conference method for estimating a cost function. what are two advantages of this method?

2) Describe the accounting analysis method for estimating a cost function. What is the advantage of the other methods.

3) List the six steps in estimating a cost function on the basis of an analysis of a past cost relationship. Which step is typically the most difficult for the cost analyst?

4) When using the high-low method, should you base the high and low observations on the dependent variable or on cost driver?

5) Describe three criteria for evaluating cost functions and choosing cost drivers.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9413571

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