The Account Analysis Method of Estimating Fixed and Variable Costs

question 71

True/False

The account analysis method of estimating fixed and variable costs uses software programs such as Microsoft Excel^® to fit a line to multiple data points.

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Definitions:

Chicken

A type of poultry that is widely consumed around the world for its meat and eggs, and is considered a staple in many diets.

Lobsters

Marine crustaceans with a hard protective exoskeleton and long antennae, often considered a delicacy.

Utility

In economics, it refers to the total satisfaction received from consuming a good or service.

Consumption

The act of using goods and services for personal needs or wants, including the process by which these goods and services are acquired.