Managerial accounting Study Set 9
Quiz 3: Cost Behaviour: Analysis and Use
The "goodness of fit" statistic (that is,R-squared)associated with the least-squares regression method indicates the proportion of a mixed cost that is variable.
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The contribution approach to constructing an income statement emphasizes the functions of production,administration and sales.
Because the least-squares regression method is more accurate,a scattergram plot is unnecessary.
The contribution approach to the income statement classifies costs by behaviour rather than by function.
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