Question 1

The simplest of the three methods to measure a linear-cost function from past cost data

Accepted Answer

The answer of The simplest of the three methods to...

Question 2

Examples of this type of cost are mortgage payments, property taxes, and insurance

Accepted Answer

Committed

Question 3

These costs are determined by management as part of the periodic planning process to meet the organization's goals

Accepted Answer

Discretion

Question 4

These costs arise from the possession of facilities, equipment, and basic organization

Accepted Answer

Committed

Question 5

Managers should apply plausibility and reliability to obtain accurate and useful cost functions.

Accepted Answer

A) True 
 B)False

Question 6

In the mixed cost equation, Y = F + VX, the X is the slope.

Accepted Answer

A) True 
 B)False

Question 7

_____ arise as a result of strategic decisions about the scale and scope of an organization's activities.

Accepted Answer

A) Capacity costs 
B) Discretionary costs 
C) Mixed costs 
D) Engineered costs 
A) Capacity costs 
B) Discretionary costs 
C) Mixed costs 
D) Engineered costs

Question 8

The following data has been assembled for Tiger Company.Use the high-low method. $$\begin{array}{l}
\text { Cost }& \text { Hours } \
\$ 24,400 & 2,000 \
39,000 & 2,200 \
35,280 & 2,750 \
36,400 & 3,500 \
44,160 & 3,900
\end{array}$$ The total fixed cost is ____.

Accepted Answer

A) $26,672 
B) $21,360 
C) $10,112 
D) $3,600 
A) $26,672 
B) $21,360 
C) $10,112 
D) $3,600

Question 9

_____ contain elements of both fixed- and variable-cost behavior.

Accepted Answer

A) Mixed costs 
B) Step costs 
C) Committed fixed costs 
D) Discretionary fixed costs 
A) Mixed costs 
B) Step costs 
C) Committed fixed costs 
D) Discretionary fixed costs

Question 10

These costs contain elements of both fixed- and variable-cost behavior

Accepted Answer

The answer of These costs contain elements of both fixed-...

Question 11

A company could not temporarily eliminate _____.

Accepted Answer

A) employee training 
B) depreciation 
C) research and development 
D) management salaries 
A) employee training 
B) depreciation 
C) research and development 
D) management salaries

Question 12

Presented below is the production data for the first six months of the year showing the mixed costs incurred by Euclid Company. $$\begin{array} { l l r } 
\text { Month } & \text { Cost } & \text { Units } \
\text { January } & \$ 7,500 & 4,000 \
\text { February } & 13,000 & 7,500 \
\text { March } & 11,500 & 9,000 \
\text { April } & 11,700 & 11,500 \
\text { May } & 13,500 & 12,000 \
\text { June } & 11,850 & 6,000
\end{array}$$ Euclid Company uses the high?low method to analyze mixed costs.The variable cost per unit is_____.

Accepted Answer

A) $1.25 
B) $0.75 
C) $1.31 
D) $0.132 
A) $1.25 
B) $0.75 
C) $1.31 
D) $0.132

The simplest of the three methods to measure a linear-cost function from past cost data

Examples of this type of cost are mortgage payments, property taxes, and insurance

These costs are determined by management as part of the periodic planning process to meet the organization's goals

These costs arise from the possession of facilities, equipment, and basic organization

Managers should apply plausibility and reliability to obtain accurate and useful cost functions.

In the mixed cost equation, Y = F + VX, the X is the slope.

_____ arise as a result of strategic decisions about the scale and scope of an organization's activities.

The following data has been assembled for Tiger Company.Use the high-low method. Cost Hours \ 24,400 2,000 39,000 2,200 35,280 2,750 36,400 3,500 44,160 3,900 The total fixed cost is ____.

_____ contain elements of both fixed- and variable-cost behavior.

These costs contain elements of both fixed- and variable-cost behavior

A company could not temporarily eliminate _____.

Managerial Accounting, the Business Organization, and Professional Ethics

Introduction to Cost Behavior and Cost-Volume Relationships

Cost Management Systems and an Introduction to Activity-Based Costing

Relevant Information and Decision Making With a Focus on Pricing Decisions

Relevant Information and Decision Making: Operational Decisions

Introduction to Budgets and Preparing the Master Budget

Flexible Budgets and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Accounting for Overhead Costs

Job-Costing and Process-Costing Systems

Basic Accounting: Concepts, Techniques, and Conventions

Understanding Corporate Annual Reports: Basic Financial Statements

Understanding and Analyzing Consolidated Financial Statements

Filters

Exam 3: Measurement of Cost Behavior

The simplest of the three methods to measure a linear-cost function from past cost data

Examples of this type of cost are mortgage payments, property taxes, and insurance

These costs are determined by management as part of the periodic planning process to meet the organization's goals

These costs arise from the possession of facilities, equipment, and basic organization

Managers should apply plausibility and reliability to obtain accurate and useful cost functions.

In the mixed cost equation, Y = F + VX, the X is the slope.

_____ arise as a result of strategic decisions about the scale and scope of an organization's activities.

The following data has been assembled for Tiger Company.Use the high-low method. Cost Hours \ 24,400 2,000 39,000 2,200 35,280 2,750 36,400 3,500 44,160 3,900 The total fixed cost is ____.

_____ contain elements of both fixed- and variable-cost behavior.

These costs contain elements of both fixed- and variable-cost behavior

A company could not temporarily eliminate _____.

Managerial Accounting, the Business Organization, and Professional Ethics

Introduction to Cost Behavior and Cost-Volume Relationships

Cost Management Systems and an Introduction to Activity-Based Costing

Relevant Information and Decision Making With a Focus on Pricing Decisions

Relevant Information and Decision Making: Operational Decisions

Introduction to Budgets and Preparing the Master Budget

Flexible Budgets and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Accounting for Overhead Costs

Job-Costing and Process-Costing Systems

Basic Accounting: Concepts, Techniques, and Conventions

Understanding Corporate Annual Reports: Basic Financial Statements

Understanding and Analyzing Consolidated Financial Statements

Filters