Proper Cost of Goods Manufactured Schedule

Synomym for Coefficient of Correlation 

What range is accetpable?

Synomym for Coefficient of Determination

What is an acceptable Range?

Name 3 Cost Classification Types

Which is the best?

Why?

1.  High-Low Method

2.  Scattergraph Method

3.  Regression

Best: Regression Method

Why:

a. Includes all the data

b. Easy to determine if the coefficients are good predictors of  mixed costs or not. 

Format for Contribution Income Statement

Define Contribution Margin

 Sales

-(Variable Costs)

Contribution Margin

Format of Contribution Income Statement

Sales

(Variable Costs)

Contribution Margin

(Fixed Costs)

Operating Income