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## Week 11 notes

by: Laura Notetaker

18

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# Week 11 notes Acct 3323

Laura Notetaker
UTEP
GPA 3.77
Cost Accounting
Marjorie A Marinovic

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These are the notes from week 11, covering chapter 10
COURSE
Cost Accounting
PROF.
Marjorie A Marinovic
TYPE
Class Notes
PAGES
0
WORDS
CONCEPTS
Cost accounting
KARMA
25 ?

## Popular in Accounting

This 0 page Class Notes was uploaded by Laura Notetaker on Sunday November 8, 2015. The Class Notes belongs to Acct 3323 at University of Texas at El Paso taught by Marjorie A Marinovic in Fall 2015. Since its upload, it has received 18 views. For similar materials see Cost Accounting in Accounting at University of Texas at El Paso.

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Date Created: 11/08/15
Week 1 1 notes A cost function is a mathematical description of how cost changes with changes in the level of activity relating to that costs Two assumptions 1 Variations in the level of a single activity explain the variations in the related total costs 2 Cost behavior is approximated by a linear cost function within the relevant range Mixed costs are costs that have both xed and variable components Linear cost function y a bX Y the dependent variable the cost that is predicted a the intercept xed costs b the slope of the line variable cost X the independent variable cost driver Cost estimation methods 1 Industrial engineering method a Analyzes the relationship between inputs and outputs in physical terms 2 Conference method a Estimates the cost function based on opinions about costs and their drivers 3 Account analysis method a Estimates the cost functions by classifying various cost accounts as variable xed or mixed with respect to the identi ed level of activity 4 Qualitative analysis methods a Uses formal mathematical method to t cost functions to past data observations b Highlow method i Uses the highest and lowest observed values ii Variable cost per unit of activity cost of the highest activity cost of the lowest activity highest activity level owest activity level c Regression analysis i Measures the average amount of change in the dependent variable associated with a unit change in one or more independent variables

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