cost-estimation-methods-Managers-use-cost-estimation-to-measure-relationships-based-on-previous-costs-incurred-for-the-same-production-activity-levels-Accounting-Assignment-Homework-Help
Chapter 10 introduces cost estimation methods. Managers use cost estimation to measure relationships based on previous costs incurred for the same production activity levels.
On pages 376-379, four basic cost estimation methods are introduced:
- Industrial Engineering Method
- Conference Method
- Account Analysis Method
- Quantitative Analysis Method
Please respond to all of the following prompts:
Choose one of these four methods to discuss in detail. In your main response posting, be sure to address the following elements for the method chosen:
- Important information provided
- Assumptions used
- Advantages and/or disadvantages associated with the method
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