According to David Arnold,there Are Four Possible Approaches to Forecasting

question 94

Multiple Choice

According to David Arnold,there are four possible approaches to forecasting by analogy,which does not include which of the following?

• A)Data is available on a comparable product in the same country.
• B)Data is available on the same product in a comparable country.
• C)Data is available on the same product from a dependent distributor in a neighboring country.
• D)Data is available about a comparable company in the same country.
• E)Data is available on the same product in every country.

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Definitions:

Fixed Overhead

Regular, unchanged costs associated with operating a business, such as rent and salaries, irrespective of production levels.

Work in Process

Goods that are in various stages of completion in the manufacturing process but are not yet finished products.

Direct Labor Variances

The differences between the actual labor costs incurred and the standard labor costs for the actual production achieved.

Direct Labor Costs

The wages paid to employees who are directly involved in the production of goods or services, such as assembly line workers or craftsmen.