Cost Behavior
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| Cost Behavior | show 🗑
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| Variable Costs | show 🗑
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| show | Volume increase= TVC increase
Volume decrease= TVC decrease
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| Formula for variable cost | show 🗑
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| Total Variable cost per unit of activity | show 🗑
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| show | Costs that do not change in total despite wide changes in volume. Include: taxes/depreciation, insurance, salaries
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| Committed Fixed Costs | show 🗑
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| show | Fixed costs that are results of management decisions; more control over these costs in the short run
ex. advertising
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| show | TFC= Fixed amount over a period of time
y = f
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| show | Volume increase = TFC decrease
Volume decrease = TFC increase
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| Mixed Costs | show 🗑
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| Does the mixed cost line begin at the origin? | show 🗑
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| show | total mixed costs=variable costs +fixed costs
y=vx+f
y=total cost
v=variable cost PER UNIT
x=volume of activity
f=fixed costs
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| relevant range | show 🗑
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| What does it mean if there is a change in cost behavior? | show 🗑
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| Step Costs | show 🗑
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| show | managers use judgement to classify each general ledger account as variable, fixed, or mixed
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| show | slope = VC/unit = rise/run
y(high)-y(low)/ x(@y1)- (x@y2)
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| show | statistical procedure for determine the best-fit equations of ALL data points (not just high and low)
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| What is R-square usually referred to as ? | show 🗑
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| Absorption Costing | show 🗑
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| Examples of Variable Manufacturing Costs | show 🗑
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| Examples of Fixed MOH costs | show 🗑
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| Variable Costing | show 🗑
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| What is the ONLY difference between absorption and variable costing? | show 🗑
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| show | income statement organized by cost behavior. Variable costing usually reported in this way
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| Contribution Margin | show 🗑
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| show | Sales revenue - variable expenses
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| show | ONLY when all units produced are sold in the same period
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| show | ALWAYS
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| show | Absorption inc = variable inc
Inventory Constant
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| show | Absorption inc > Variable inc
Inventory increase
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| If units produced < units sold | show 🗑
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| When do inventory levels usually decrease? | show 🗑
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| Difference in operating income equation | show 🗑
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