A firm has been using the following equation to predict annual demand for helix gears:
Yt = 55 + 4t
Demand for the past few years is shown below.Is the forecast performing as well as it might?
Explain.
Definitions:
Overhead Rates
The method used to allocate indirect costs to produced goods, often calculated as a ratio of overhead to direct labor hours, direct labor costs, or machine hours.
Contact Hours
The actual hours spent in direct contact between teachers and students or professionals in a specified context.
Design Hours
The number of hours allocated or spent on the creative and specification process of product or project development.
Activity-Based Costing
An accounting method that assigns costs to products based on the activities they require, such as ordering materials or setting up machinery.
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