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Illustration of Coefficient of Determination
The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour costs (in Sh.) are associated to volume. The following data presents results of the 12 most recent weeks.
r2 = [12(132211) – (430) (3549)]2 [12 (16234) – (430)2] {12 (1104005 – (3549)2} = 0.565About 56.5% of the variations in labour cost can be explained by variations in units produced while about 43.5% of the variation in labour cost is explained by other independent variables and the error term.
Directing There are number of good plans which are never realized. To realize a plan it requires the initiation and direction of the number of actions. Often, thes
Stages in the performance budgeting The stages in the performance budgeting is enumerated as follows: 1) Establishment of goals objectives and policies: data collection revi
#labour costing techniques
Break even analysis and target profit, taxes - Patterson Parkas Company's sales revenue is $30 per unit, variable costs are $19.50 per unit, and fixed costs are $147,000. a)Compute
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Western States Supply, Inc. (WSS), consists of three divisions—California, Northwest, and Southwest—that operate as if they were independent companies. Each division has its own sa
costs/per unit labor ... $ 4 materials ...5 fixed cost... $ 12 determine the break even point in units if the seeling price is $ 19 determine the break even point in sales at
Disadvantages of the cost accounting: 1. It is unnecessary: it is argued that maintenance of the cost records is not necessary and involves duplication of work. It is based o
What does it mean when we say consistency is the central feature of economic rationality?
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