Reference no: EM139598
Q1. The high-low method uses cost and activity data from just two periods to establish a cost formula.
a. True
b. False
Q2.Contribution margin equals revenue minus all variable costs.
a. True
b. False
Q3.When more than one factor causes variations in the variable element of a mixed cost, multiple regression analysis should be used.
a. True
b. False
Q4.The contribution income statement organizes costs according to behavior.
a. True
b. False
Q5.The term "relevant range" refers to the levels of activity within which the assumptions relative to cost behavior are valid.
a. True
b. False
Q6.The high-low method is generally more accurate than the least-squares regression method in analyzing cost behavior.
a. True
b. False
Q7.In the least-squares regression method, total cost is considered to be "Y", the dependent variable.
a. True
b. False
Q8.On an income statement prepared by the traditional approach, costs are organized and presented according to function.
a. True
b. False
Q9.The following costs are all examples of committed fixed costs: depreciation on buildings, advertising, insurance, and management development and training.
a. True
b. False
Q10.The least-squares regression method computes the regression line that minimizes the sum of the squared deviations from the plotted points to the line.
a. True
b. False
|
Talk about the probable outcome
: Sam Student had borrowed $1,000 from his cousin. Sam and the cousin became involved in a heated disagreement when the cousin began to press Sam for repayment of the loan. Talk about the probable outcome.
|
|
Evaluate the actual return on the plan assets
: James Paul importers provides the following pension plan- From the data above, evaluate the actual return on the plan assets for 2011.
|
|
Evaluate the present value of the minimum lease payments
: What type of lease is this? Explain. Evaluate the present value of the minimum lease payments. Prepare all necessary journal entries for Burke for this lease through January 1, 2008.
|
|
Balance sheet in order to obtain additional funds
: Preparation of a Corrected Balance Sheet in order to obtain additional funds for expansion by given the available information
|
|
Multiple regression analysis
: When more than one factor causes variations in the variable element of a mixed cost, multiple regression analysis. the high-low method is generally more accurate than the least-squares regression method in analyzing cost behavior.
|
|
Unfavorable labor rate variance
: An unfavorable labor rate variance can occur if workers with high hourly wage rates are assigned to work on products whose standards assume workers with low hourly wage rates.Throughput time is the amount of time required to process raw materials i..
|
|
The estimates of the variable and fixed components
: What is the most likely effect on the labor variances in the first month of this strike. the estimates of the variable and fixed components of repair cost would be
|
|
Adjust the financial statements on posting balance sheet
: adjust the financial statements on posting Balance Sheet and Material loss on a year-end receivable because of a customer's bankruptcy
|
|
Evaluate the contribution margin for february
: Management of Gilmartin Corporation, a manufacturing company. Evaluate the contribution margin for February.
|