An Exponential Smoothing Forecasting Technique Requires All of the Following

question 5

Multiple Choice

An exponential smoothing forecasting technique requires all of the following except

• A)the forecast for the current period.
• B)the actual demand for the current period.
• C)a smoothing constant.
• D)large amounts of historical demand data.

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in the level of activity or volume of production.

Manufacturing Overhead

All indirect costs associated with the production process, such as utilities, maintenance, and salaries of production supervisors, not directly tied to the production of an individual product.

Spending Variance

The difference between the budgeted or standard cost of something and its actual cost, often analyzed in budgeting and cost control.

Units

The measures or quantities of a product, service, or resource, which are accounted for in business transactions.