Explain how the high-low method is used for cost estimation. What, if any, are the limitations of
Question:
Explain how the high-low method is used for cost estimation. What, if any, are the limitations of this approach to cost estimation?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
The highlow method is a simple technique used for estimating costs and separating fixed costs from variable costs within a given data set It involves ...View the full answer
Answered By
ROXAN VEGA
I have extensive hands-on experience and proficiency in assisting students in various subjects. During my tutoring sessions, I prioritize creating a supportive and engaging learning environment. I strive to understand each student's unique learning style and tailor my teaching methods accordingly. I am patient, empathetic, and skilled at breaking down complex concepts into simpler, more manageable parts. I encourage active participation and discussion, promoting critical thinking and problem-solving skills.
One of my strengths as a tutor is my ability to adapt to different learning needs and styles. I can explain difficult concepts using real-life examples, visual aids, or interactive exercises, depending on what works best for the student. I also provide clear explanations, answer questions, and offer guidance in a clear and concise manner.
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 2 Managerial Accounting
ISBN: 9780357364802
1st Edition
Authors: OpenStax
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Kenya Bike Limited (KBL) assembles motor bikes using spare parts procured from China. The following data relates to the costs and number of motor bikes assembled in 2015/16 financial year. Month...
-
How does the QFD approach help? What are some limitations of this approach?
-
The owner of a building supply company has requested a cash budget for June. After examining the records of the company, you find the following: a. Cash balance on June 1 is $736. b. Actual sales for...
-
Why did the owners pick such a big building for sustainability refitting?
-
Chipotle Mexican Grill, Inc. (CMG) is a quick-service restaurant providing a focused menu of burritos, tacos, and salads. Chipotles income statements for the end of two recent years are as follows:...
-
An asset has the estimated salvage values for various lives, shown in the table below. For each possible life from 1 to 6 by 1, determine the capital recovery cost for MARR of 8 percent/year. EOY NCF...
-
Cost-plus and market-based pricing. Florida Temps, a large labor contractor, supplies contract labor to building-construction companies. For 2012, Florida Temps has budgeted to supply 84,000 hours of...
-
Construct and group the following data into classes. Calculate the frequency by classes, relative frequencies and cumulative frequencies. A. Calculate the size of each class (use 6 classes) a....
-
Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a charge for each copy made. The company uses the high-low method to analyze costs. If Markson paid...
-
Which of the following would not be classified as manufacturing overhead? A. Indirect materials B. Indirect labor C. Direct labor D. Property taxes on factory
-
The body mass of yearling bighorn sheep on Ram Mountain in Alberta, Canada, can be estimated by M(t) = 27.5 + 0.3t - 0.001t 2 where M1t2 is measured in kilograms and t is days since May 25. (a) Find...
-
AGRICULTURE. BP Farms is a 300-acre farm located near Lawrence, Kansas, owned and operated exclusively by Bill Pashley. For the upcoming growing season, Bill will grow wheat, corn, oats, and...
-
what ways does cultural diversity serve as a catalyst for creativity, innovation, and cross-cultural fertilization, enriching intellectual discourse, fostering intercultural dialogue, and challenging...
-
Read Book: Baumgardner, Jennifer and Amy Richards. Manifesta [10th Anniversary Edition]: Young Women, Feminism, and the Future Chapters one and two Then answer: 1) Why do you think the authors start...
-
Watch one of the movies listed below and make your own analysis on how it was claimed to be based on/inspired by/related to Plato's Allegory of the Cave. Please explain your analysis clearly....
-
How can innovative technological solutions, such as carbon capture and storage, renewable energy systems, and climate engineering techniques, complement traditional mitigation strategies to achieve...
-
A homeowner has installed a new energy-efficient furnace. It is estimated that over a year the new furnace will reduce energy costs by an amount that can be regarded as a random variable with a mean...
-
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
-
A company purchased a building twenty years ago for $150,000. The building currently has an appraised market value of $235,000. The company reports the building on its balance sheet at $235,000. What...
-
Explain what a T-account is and what purpose it serves.
-
Post the following February transactions to T-accounts for Accounts Receivable and Cash, indicating the ending balance (assume no beginning balances in these accounts). A. Provided legal services to...
-
Explain about some of the managerial implications and/or consequences of ethical leadership in an organization. What is ethical leadership and how would managers explain its impact on an...
-
You are a newly promoted manager for one of the business units in your organization. As such, you need to consider how to manage yourself before you can really manage others. You need to think about...
-
Angus is looking to build an individual disability income protection program rather than rely exclusively on either Employment Insurance (El) or Worker's Compensation, both of which he qualifies for....
Study smarter with the SolutionInn App