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One cost estimation method can be used in combination with another method.?
Yes. True
Who invented a new method of producing low-cost steel?
Henry Bessemer
A software costing method that uses a team of experts working both independently and together to combine different approaches and arrive at a collective judgment through consensus is an example of the?
This method is an example of the Delphi technique. It involves a panel of experts who provide their estimates and insights independently, followed by rounds of discussion and feedback to refine their judgments. The aim is to reach a consensus on the software cost estimate by leveraging diverse expertise and minimizing bias.
Distinguish between common cost and joint cost give three example?
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How much does a farm plow cost?
The cost of a farm plow can vary widely based on factors such as size, type, and brand. On average, a basic plow can range from $500 to $3,000, while larger or more specialized models may cost upwards of $10,000 or more. Additionally, used plows may be available at lower prices, depending on their condition. Always consider the specific needs of your farming operation when selecting a plow.
What is High-low method of variable cost and fixed cost?
High and low method is the method for separating fixed cost and variable cost from mixed cost.
What is cost driver and cost pool?
Cost driver is the basic activity which increases the or utilize the cost while cost pool is that in which all costs are jointly shown for example machine setup cost is cost driver while over all overheads is cost pool.
What is the Average Cost method of inventory valuation?
Average Cost Method: Under this method average cost is calculated by following farmula:Average cost of unit= Total cost of inventory / total number of units
How does inflation impact the cost of living, and can you provide a real-life example of how inflation has affected prices in recent years?
Inflation increases the cost of living by reducing the purchasing power of money, causing prices of goods and services to rise. For example, in recent years, inflation has led to higher prices for everyday items such as groceries, gas, and housing, making it more expensive for people to afford their basic needs.
How much does personal hosting cost?
Personal hosting varies in cost depending on the customer's needs. Personal hosting can start as little as $1.99 a month for basic web set up and service.
What is the basic difference between account analysis method and high-low method as applied in cost estimation?
The basic difference between the account analysis method and the high-low method in cost estimation lies in their approach to identifying fixed and variable costs. The account analysis method involves a detailed review of each account in the financial records to classify costs based on their nature, while the high-low method uses only the highest and lowest activity levels to estimate variable and fixed costs, making it simpler but potentially less accurate. The account analysis method provides a more comprehensive view, whereas the high-low method is quicker but may overlook variations within the data.
Would the doctor pay job enough to cover their basic needs?
Whether a doctor's salary covers their basic needs depends on various factors, including their location, specialty, and lifestyle. Generally, doctors earn a substantial income, which typically allows them to meet their basic needs comfortably. However, in high-cost living areas, expenses like housing and education can significantly impact their financial situation. Ultimately, while most doctors should be able to cover their basic needs, individual circumstances can vary.
How much does it cost to restore a 1970 Camaro?
Restoring a 1970 Camaro depends on what packages are bought, as well as what needs to be restored or fixed for the car. Restoring can cost at least $3000-$5000 for basic restoration.
What is the best method of transportation?
The best method of transportation depends on your specific needs and preferences. Some popular options include cars for convenience and flexibility, public transportation for cost-effectiveness and sustainability, and walking or biking for health benefits. Consider factors like distance, travel time, cost, and environmental impact when choosing the best method for your situation.
What are example of economic wants?
non-economic wants are those human needs which does not involve cost. and some of its example i air, water in mountains which is free to use, and others.
How much would it cost me to make a basic watch and how would I-?
A basic watch will cost you about $349.
What are the new approaches used in cost accounting?
cost of production report lifo method fifo method
