Question 1

Which of the following is an alternative name for the cost being predicted in a regression analysis?

Accepted Answer

A)  Dependent variable 
B)  Independent variable 
C)  Beta 
D)  Slope 
A)  Dependent variable 
B)  Independent variable 
C)  Beta 
D)  Slope

Question 2

Which cost estimation technique is useful in all situations?

Accepted Answer

A)  Analysis at the account level 
B)  Regression analysis 
C)  Two-point method 
D)  No one method is useful in all situations 
A)  Analysis at the account level 
B)  Regression analysis 
C)  Two-point method 
D)  No one method is useful in all situations

Question 3

Which of the following is an alternative name for a cost driver in a regression analysis?

Accepted Answer

A)  Dependent variable 
B)  Independent variable 
C)  Beta 
D)  Error term 
A)  Dependent variable 
B)  Independent variable 
C)  Beta 
D)  Error term

Question 4

Simple regression analysis output produces a variety of information and statistics. Which of the following statistics provides information for fixed costs?

Accepted Answer

A)  T-statistic and p-value for the alpha coefficient 
B)  T-statistics for alpha and beta coefficients 
C)  Adjusted R-square 
D)  P-values for alpha and beta coefficients 
A)  T-statistic and p-value for the alpha coefficient 
B)  T-statistics for alpha and beta coefficients 
C)  Adjusted R-square 
D)  P-values for alpha and beta coefficients

Question 5

In most accounting information systems, costs are often recorded and coded so they can be summarised based on different

Accepted Answer

A)  Cost drivers 
B)  Cost objects 
C)  Volumes of activity 
D)  Independent variables 
A)  Cost drivers 
B)  Cost objects 
C)  Volumes of activity 
D)  Independent variables

Question 6

A firm has the capacity to produce 3,100 units per week. At 80% capacity, the average total cost per unit is $12.50 and the average variable cost per unit is $7.50. What is the total fixed cost per week, assuming the firm is still operating within its relevant range?

Accepted Answer

A)  $10,400 
B)  $14,400 
C)  $ 8,400 
D)  $12,400 
A)  $10,400 
B)  $14,400 
C)  $ 8,400 
D)  $12,400

Question 7

Milano Company has an average overhead cost per hour of $10.50 at 3,500 machine hours, and at 3,000 hours it is $11.25. The company managers wish to estimate the overhead cost function. What is the variable overhead cost per machine hour?

Accepted Answer

A)  $1.00 
B)  $2.00 
C)  $6.00 
D)  $8.00 
A)  $1.00 
B)  $2.00 
C)  $6.00 
D)  $8.00

Question 8

The trend line from a scatter plot can be used to identify data points for

Accepted Answer

A)  The two-point method 
B)  Analysis at the account level 
C)  Engineered estimate of cost 
D)  Regression analysis 
A)  The two-point method 
B)  Analysis at the account level 
C)  Engineered estimate of cost 
D)  Regression analysis

Which of the following is an alternative name for the cost being predicted in a regression analysis?

Which cost estimation technique is useful in all situations?

Which of the following is an alternative name for a cost driver in a regression analysis?

Simple regression analysis output produces a variety of information and statistics. Which of the following statistics provides information for fixed costs?

In most accounting information systems, costs are often recorded and coded so they can be summarised based on different

A firm has the capacity to produce 3,100 units per week. At 80% capacity, the average total cost per unit is $12.50 and the average variable cost per unit is $7.50. What is the total fixed cost per week, assuming the firm is still operating within its relevant range?

Milano Company has an average overhead cost per hour of $10.50 at 3,500 machine hours, and at 3,000 hours it is $11.25. The company managers wish to estimate the overhead cost function. What is the variable overhead cost per machine hour?

The trend line from a scatter plot can be used to identify data points for

The Role of Accounting Information in Management Decision Making

A Costing Framework and Cost Allocation

Cost-Volume-Profit Cvp Analysis

Job Costing Systems

Process Costing Systems

Absorption, Variable and Throughput Costing

Activity Analysis: Costing and Management

Relevant Costs for Decision Making

Standard Costs, Flexible Budgets and Variance Analysis

Operational Budgets

Strategy and Control

Planning and Budgeting for Strategic Success

Capital Budgeting and Strategic Investment Decisions

The Strategic Management of Costs and Revenues

Strategic Management Control: a Lean Perspective

Responsibility Accounting, Performance Evaluation and Transfer Pricing

The Balanced Scorecard and Strategy Maps

Rewards, Incentives and Risk Management

Sustainability Management Accounting

Filters

Exam 2: Cost Concepts, Behaviour and Estimation

Which of the following is an alternative name for the cost being predicted in a regression analysis?

Which cost estimation technique is useful in all situations?

Which of the following is an alternative name for a cost driver in a regression analysis?

Simple regression analysis output produces a variety of information and statistics. Which of the following statistics provides information for fixed costs?

In most accounting information systems, costs are often recorded and coded so they can be summarised based on different

A firm has the capacity to produce 3,100 units per week. At 80% capacity, the average total cost per unit is $12.50 and the average variable cost per unit is $7.50. What is the total fixed cost per week, assuming the firm is still operating within its relevant range?

Milano Company has an average overhead cost per hour of $10.50 at 3,500 machine hours, and at 3,000 hours it is $11.25. The company managers wish to estimate the overhead cost function. What is the variable overhead cost per machine hour?

The trend line from a scatter plot can be used to identify data points for

The Role of Accounting Information in Management Decision Making

A Costing Framework and Cost Allocation

Cost-Volume-Profit Cvp Analysis

Job Costing Systems

Process Costing Systems

Absorption, Variable and Throughput Costing

Activity Analysis: Costing and Management

Relevant Costs for Decision Making

Standard Costs, Flexible Budgets and Variance Analysis

Operational Budgets

Strategy and Control

Planning and Budgeting for Strategic Success

Capital Budgeting and Strategic Investment Decisions

The Strategic Management of Costs and Revenues

Strategic Management Control: a Lean Perspective

Responsibility Accounting, Performance Evaluation and Transfer Pricing

The Balanced Scorecard and Strategy Maps

Rewards, Incentives and Risk Management

Sustainability Management Accounting

Filters