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What is Least Squares Method in Cost Accounting about?

The least squares method is a linear regression technique used to determine the fixed and variable cost components of total costs. It involves plotting total costs (y) against activity levels (x) and using the normal equations to calculate the slope (variable cost per unit) and y-intercept (total fixed costs). An example is provided to demonstrate how cost data is analyzed using the least squares method to derive a cost function that expresses total costs as the sum of fixed and variable portions.

Author

Jayvee Balino

Language

EN