GIVEN THE FOLLOWING DATA, COMPUTE FOR THE FOLLOWING: 1. STRAIGHT LINE METHOD 2. ARITHMETIC GEOMETRIC CURVE 3. STATISTICAL PARABOLIC CURVE WRITE A RECOMMENDATION REGARDING THE RESULTS AND WHICH OF THE NETHOD IS BEST FIT FOR THE DATA. Nate: answer on a separate document. Use excel in compute. 2. Supposed this is Yc (straightline) 450,000 370,000 750,000 1,100,000 1,500,000 1,000,000 1,700,000 2,000,000 1,900,000 2,300,000 Yi + 1 (Geometric) YEAR SALES 415,000 1 356,000 703,556 1,023,400 1,308,905 900,573 1,504,789 1,705,932 1,895,890 2,094,256 450,000 370,000 750,000 1,100,000 1,500,000 1,000,000 1,700,000 2,000,000 1,900,000 2,300,000 2011 2012 2013 3 2014 4. 2015 2016 6. 2017 2018 8 2019 2020 10
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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