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

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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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