(c2) Estimated daily production costs for April 1 using both the high-low method and the regression model and actual manufacturing costs incurred on April 1 are provided here. Units manufactured Total cost 3,897 $296,512 Estimated cost using high-low method Estimated cost using the regression model Actual cost B $300,486 $296,149 $296,512 Identify which is the most reliable approach to estimating costs and explain why. I U T₁ T' IEEE J E H 3 99 = FEB á
(c2) Estimated daily production costs for April 1 using both the high-low method and the regression model and actual manufacturing costs incurred on April 1 are provided here. Units manufactured Total cost 3,897 $296,512 Estimated cost using high-low method Estimated cost using the regression model Actual cost B $300,486 $296,149 $296,512 Identify which is the most reliable approach to estimating costs and explain why. I U T₁ T' IEEE J E H 3 99 = FEB á
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:(c2) Estimated daily production costs for April 1 using both the high-low method and the regression model and actual manufacturing
costs incurred on April 1 are provided here.
Units manufactured
Total cost
3,897
$296,512
Estimated cost using high-low method
Estimated cost using the regression model
Actual cost
B
$300,486
$296,149
$296,512
Identify which is the most reliable approach to estimating costs and explain why.
I U T₁ T' IEEE J
E H 3
99 =
FEB
á
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