The Coefficient of Determination Is

question 30

Multiple Choice

The coefficient of determination is

• A)a measure of the variability of actual costs around the cost-estimating equation.
• B)used to construct probability intervals for cost estimates.
• C)a standardized measure of the degree to which two variables move together.
• D)a measure of the percent variation in the dependent variable that is explained by an independent variable.

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Definitions:

Overapplied Manufacturing Overhead

A situation where the allocated manufacturing overhead costs for a period are more than the actual overhead costs incurred.

Finished Goods

Products that have completed the manufacturing process and are ready for sale to customers.

Journal Entry

A record in accounting that represents a transaction, where each entry includes debits and credits that total an equal amount.

Direct Labor-Hour

A measurement of labor input that represents the amount of time spent by workers directly involved in the production process.