Management Accounting Module 3: Budgeting

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Author:
jordan_hs
ID:
223824
Filename:
Management Accounting Module 3: Budgeting
Updated:
2013-06-14 04:39:11
Tags:
Budgeting
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Description:
management accounting notes for budgeting
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  1. What methods can be used for separating costs?
    • 1. High-Low method
    • 2. Scatter plot method
    • 3. Method of Least Squares
    • 4. Manager estimate
  2. High-Low method
    Preselect two points used to compute the parameters F and V. High point defined as highest output or driver level. Low point defined as lowest output or driver level.
  3. Scatterplot method
    Plot observations on scatter graph and fit line of best fit by eye
  4. Method of Least Squares
    Statistical method to find a line that best fits a set of data. It's used to break out the fixed and variable components of a mixed cost

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