Given the following data,calculate the forecast for June using the moving average method with N = 3.Also calculate a weighted moving average forecast for June using weights of 0.5,0.3,and 0.2.Assume the actual demand for June was 200 units.Which method produced the best results?
Definitions:
Equivalent Units
A method used in process costing that converts partially completed goods into a number of completed units of output.
Assembly Department
An area in a manufacturing plant where parts are put together to create finished goods.
Conversion Costs
These are the costs required to convert raw materials into finished products, comprising labor and overhead expenses.
Materials Costs
Expenses incurred for materials that are directly associated with manufacturing a product.
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