Author Question: If cost accountants decide to use production of prior periods as a cost driver for repair cost of ... (Read 46 times)

Mr3Hunna · **on:** Mar 6, 2021

Question 1

Goodness-of-fit measures how well the predicted values in a cost estimating equation ________.
◦ match the cost driver
◦ determine the level of activity
◦ match the actual cost observations
◦ rely on the independent variable

Question 2

If cost accountants decide to use production of prior periods as a cost driver for repair cost of the current period they understand that
◦ there is no correlation between repair costs and levels of production
◦ repair costs tend to lag periods of high production
◦ cost accountants do not need to understand operations
◦ there is no cause-and-effect between production and repair costs

steff9894 · **Reply #1 on:** Mar 6, 2021

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