What are the various methods of estimating cost functions? Explain each method with suitable numerical examples.

Accounting

Cost Accounting

Assignment Question(s): (Marks 15)

Q1. Differentiate with suitable examples the relevant cash flows and irrelevant cash flows. What relevant role do these cash flows provide in management decision-making? Provide a suitable example in context to an organization to support your answer. (3 Marks)

Note: Your answer must include suitable examples of relevant and irrelevant cash flows for management decision-making. (Week 2, Chapter 1)

 

Q2. What are the various methods of estimating cost functions? Explain each method with suitable numerical examples. (4 Marks)

Note: You are required to assume values for numerical examples of your own, and they should not be copied from any sources. (Week 3, Chapter 2)