ACC 5361 TXst
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Cost Behavior is the general term for describing whether costs change as output changes | show 🗑
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| Fixed costs always stay the same in total as output changes regardless of the relevant range | show 🗑
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| RF company manufactures furniture. if furnitature were the cost object, the nails used to make the furniture would be considered a variable cost | show 🗑
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| In the long run all costs are fixed | show 🗑
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| show | FALSE - flexible resources are supplied when needed, the costs of flexible resources increases as demand for the resources increases. thus, flexible resources are variable. committed resources are fixed
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| show | TRUE - when committed resources are purchased, the resource supplied is greater than the resource usage; this gives rise to unused capacity. flexible resources do not give rise to unused capacity.
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| The relevant range is a wide range of activity where total variable costs remain the same | show 🗑
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| show | TRUE -
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| The high-low method calculates a better estimate of the cost formula than the method of least squares | show 🗑
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| show | mixed cost. -Manufacturing overhead is usually a mixed cost
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| Within the relevant range of activity, if the level of activity increases, variable cost per unit | show 🗑
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| show | remain constant. - Total fixed cost remains constant and total variable cost increases in proportion with the level of
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| show | commissions paid to salesmen based on units sold - Commissions are variable costs because total commissions paid vary with sales
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| An example of a committed fixed cost is | show 🗑
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| Which is the best method for separating mixed costs into fixed and variable components? | show 🗑
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| show | $10,000 + ($2 x 14,000) = $38,000
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| Blurry Company shipped 10,000 units for $36,000 in April and 12,000 units for $40,000 in May. The estimated cost | show 🗑
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| The following cost function to estimate manufacturing overhead was estimated using the method of least squares: | show 🗑
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| show | The scatterplot method plots all the activity cost observations at various levels of activities. It will
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Created by:
buck56
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