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Accounting 202 - Chapter 6

28 Questions  I  By Jc173
Accounting Quizzes & Trivia
Cost Behavior

  
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Question Excerpt

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1.  Which of the following statements is TRUE with respect to variable costs per unit?
A.
B.
C.
D.
2.  Which of the following statements is TRUE with respect to total variable costs?
A.
B.
C.
D.
3.  Which of the following statements is TRUE with respect to total fixed costs?
A.
B.
C.
D.
4.  Within the relevant range, which of the following statements is TRUE with respect to fixed costs per unit?
A.
B.
C.
D.
5.  Which of the following is a fixed cost?
A.
B.
C.
D.
6.  Which of the following statements describes variable costs?
A.
B.
C.
D.
7.  Renting a car and paying $15 per day plus $.03 per mile driven is an example of what type of cost?
A.
B.
C.
D.
8.  For most businesses, annual straight line depreciation expense on the company’s building is what type of cost?
A.
B.
C.
D.
9.  Which of the following would be considered a discretionary fixed cost?
A.
B.
C.
D.
10.  Which of the following would be considered a committed fixed cost?
A.
B.
C.
D.
11.  Management has little or no control over:
A.
B.
C.
D.
12.  Which of the following cost behaviors cannot be accurately represented by a single straight line?
A.
B.
C.
D.
13.  When predicting costs at different volumes, managers should consider which of the following?
A.
B.
C.
D.
14.  Using account analysis, what type of cost is utilities if you are charged $40 for the first 200 kilowatts hours, $85 for 201- 400 kilowatt hours, and $135 + or - for 401-600 kilowatt hours?
A.
B.
C.
D.
15.  Using account analysis, what type of cost is the local phone service which charges a flat fee for unlimited local calls?
A.
B.
C.
D.
16.  Using account analysis, what type of cost is Satellite TV when the charge is $30.00 per month plus $3.99 for pay-per-view movies?
A.
B.
C.
D.
17.  Manufacturing overhead is usually what type of cost?
A.
B.
C.
D.
18.  When managers use their judgment to classify costs as variable, fixed, or mixed, which method are they using?
A.
B.
C.
D.
19.  The data points with the________ and the ________ should be selected for use in the high-low method.
A.
B.
C.
D.
20.  A regression equation’s fixed cost component is represented by the__________ on the regression analysis output.
A.
B.
C.
D.
21.  When predicting costs at other volumes using a cost equation derived from either the high-low method or regression analysis, managers should consider:
A.
B.
C.
D.
22.  On a traditional income statement, sales revenue less cost of goods sold equals:
A.
B.
C.
D.
23.  Traditional income statements organize costs by:
A.
B.
C.
D.
24.  The contribution margin is equal to:
A.
B.
C.
D.
25.  Cotown Corporation has total sales revenues of $300,000.  If their total fixed costs are $50,000 and their total variable costs are $175,000, the contribution margin is:
A.
B.
C.
D.
26.  On a contribution margin income statement, all fixed costs are listed:
A.
B.
C.
D.
27.  On a contribution margin income statement, all variable costs are listed:
A.
B.
C.
D.
28.  Zucca Company has a contribution margin per unit of $54.  If 6,000 more items are sold, and fixed expenses remain the same, the net change in operating income will be:
A.
B.
C.
D.
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