Match Each of the Following Descriptions with the Appropriate Costing

question 11

Short Answer

Match each of the following descriptions with the appropriate costing concept (a-c).
-Required by generally accepted accounting principles
A)Absorption costing only
B)Variable costing only
C)Both absorption and variable costing

• A)Absorption costing only
• B)Variable costing only
• C)Both absorption and variable costing

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Definitions:

Exponential Smoothing

A time series forecasting method for univariate data that applies decreasing weights to past observations.

Actual Demand

The real or observed demand for products or services in a market, as opposed to forecasted or theoretical demand.

Weighted Moving Average

A forecasting method that assigns different weights to historical data points, prioritizing more recent data in the calculation.

Previous Month's Demand

Previous Month's Demand refers to the quantity of products or services requested by customers during the preceding month.