Cost behavior: (check all that apply) A. refers to how a cost will change as activity...
Cost behavior: (check all that apply)
A. refers to how a cost will change as activity level changes
B. is the relative proportion of each type of cost in an organization
C. is a detailed analysis technique used to determine whether costs are fixed or variable
D. categorizes costs as fixed, mixed and variable
Homework Answers
| Cost behavior: |
| refers to how a cost will change as activity level changes |
| categorizes costs as fixed, mixed and variable |
| Cost behavior determines how a cost will change with regard to change in volume. |
| Fixed costs are those which do not change within the relevant range. |
| Variable costs change proportionally when volume changes. |
| Mixed costs are combination of variable and fixed costs. |
| Option A and D is correct |
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Cost behavior: (check all that apply)
A. refers to how a cost will change as activity...
-Identify the following costs: x Fixed Cost x Variable Cost x Mixed Cost -Explain the behavior...
-Identify the following costs: x Fixed Cost x Variable Cost x Mixed Cost -Explain the behavior of a fixed cost, in total and per unit, when the activity level changes. -Explain the behavior of a variable cost, in total and per unit, when the activity level changes.
A cost that changes in total dollar amount with the change in the level of activity is known as:
A cost that changes in total dollar amount with the change in the level of activity is known as: Fixed cost Variable cost Conversion cost Mixed cost
Please explain the characteristics of a variable cost and fixed cost and as activity increases how...
Please explain the characteristics of a variable cost and fixed cost and as activity increases how is the cost per unit impacted (increase, decrease, remain the same). Please explain the characteristics of a mixed cost and how the High-Low Method is used to calculate variable cost per unit and fixed costs. How can the High-Low Method be used to predict variable costs and fixed costs given a certain level of activity. (please type out answer)
51. If the activity level increases, what happens to the total fixed cost? a. It decreases....
51. If the activity level increases, what happens to the total fixed cost? a. It decreases. b. It increases. c. It remains the same. d. It depends on how much the activity level increases. 52. If the activity level increases, what happens to the unit fixed cost? a. It decreases. b. It increases. c. It remains the same. d. It depends on how much the activity level increases. 53. If activity level increases, what happens to the unit variable cost?...
Within the relevant range, the change in activity level will result in ): a. No changes...
Within the relevant range, the change in activity level will result in ): a. No changes in either total fixed costs or total variable costs. b. A change in total fixed cost and no changes in total variable costs. c. A change in total variable cost and no changes in total fixed costs. d. A change in both of total fixed costs and total variable costs.
Match the following terms with the correct definitions 1. Costs that do not change in total...
Match the following terms with the correct definitions 1. Costs that do not change in total over wide ranges of volume. Technique that estimates profit or loss results when conditions 2. change a. Breakeven b. Contribution margin c. Cost behavior d. Margin of safety e. Relevant range 3. The sales level at which operating income is zero. Drop in sales a company can absorb without incurring an operating . Cos loss. 5. Combination of products that make up total sales....
Objective: This activity has the purpose of helping students apply the appropriate method of cost behavior...
Objective: This activity has the purpose of helping students apply the appropriate method of cost behavior to a situation and apply the managerial accounting concepts. Chapter 2: Basic Cost Management Concepts and Accounting for Mass Customization Operations. Identify the most common variable and the fixed cost in a workplace such as a pharmaceutical. Apply an appropriate method to analyze the behavior of the cost and give your opinion about the method you chose.
Check my work Nova Company's total overhead cost at various levels of activity are presented April...
Check my work Nova Company's total overhead cost at various levels of activity are presented April Machine Hours 53,000 43,000 63,000 73,000 Total Overhead Cost $199.060 $173,860 $ 224,260 $ 249,460 The breakdown of these costs Assume that the total overhead cost above consists of utilities at the 43,000 machine-hour level of activity is: 46,000 Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead coat $17), 060 Nova Company's management wants to break down the maintenance cost into its variable...
the drop down list has contribution margin contribution margin income statement contribution margin ratio fixed cost...
the
drop down list has
contribution margin
contribution margin income statement
contribution margin ratio
fixed cost
full absorption costing
linearity assumption
mixed cost
relevent range
scattergraph
step variable cost
unit contribution margin
variable cost
variable costing
none of these is correct
some terms may repeat
Check my work Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".) 0.3 points...
Select the term from the list provided that best matches each of the following descriptions. 1....
Select the term from the list provided that best matches each of the following descriptions. 1. 2. 3 4. 5. 6. A cost that remains constant in total when volume changes The way a cost changes relative to changes in a measure of activity A company's cost mix or relative proportion of variable and fixed costs to total costs The difference between a company's sales revenue and its variable costs Costs composed of both fixed and variable components A cost...
51. If the activity level increases, what happens to the total fixed cost? a. It decreases. b. It increases. c. It remains the same. d. It depends on how much the activity level increases. 52. If the activity level increases, what happens to the unit fixed cost? a. It decreases. b. It increases. c. It remains the same. d. It depends on how much the activity level increases. 53. If activity level increases, what happens to the unit variable cost?...
Match the following terms with the correct definitions 1. Costs that do not change in total over wide ranges of volume. Technique that estimates profit or loss results when conditions 2. change a. Breakeven b. Contribution margin c. Cost behavior d. Margin of safety e. Relevant range 3. The sales level at which operating income is zero. Drop in sales a company can absorb without incurring an operating . Cos loss. 5. Combination of products that make up total sales....
Check my work Nova Company's total overhead cost at various levels of activity are presented April Machine Hours 53,000 43,000 63,000 73,000 Total Overhead Cost $199.060 $173,860 $ 224,260 $ 249,460 The breakdown of these costs Assume that the total overhead cost above consists of utilities at the 43,000 machine-hour level of activity is: 46,000 Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead coat $17), 060 Nova Company's management wants to break down the maintenance cost into its variable...
the
drop down list has
contribution margin
contribution margin income statement
contribution margin ratio
fixed cost
full absorption costing
linearity assumption
mixed cost
relevent range
scattergraph
step variable cost
unit contribution margin
variable cost
variable costing
none of these is correct
some terms may repeat
Check my work Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".) 0.3 points...
Select the term from the list provided that best matches each of the following descriptions. 1. 2. 3 4. 5. 6. A cost that remains constant in total when volume changes The way a cost changes relative to changes in a measure of activity A company's cost mix or relative proportion of variable and fixed costs to total costs The difference between a company's sales revenue and its variable costs Costs composed of both fixed and variable components A cost...
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