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QUESTION
According to our textbook, the two basic assumptions used in estimating cost behavior are:Variations in the level of a single activity (the cost driver) explain the variations in the related total cos
According to our textbook, the two basic assumptions used in estimating cost behavior are:
- Variations in the level of a single activity (the cost driver) explain the variations in the related total costs.
- Cost behavior is approximated by a linear cost function within the relevant range.
Describe the two assumptions used in cost estimation behavior. Give an example of each of the assumptions.
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