Exam 2 Review
Flashcard
•
Business
•
University
•
Practice Problem
•
Hard
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7 questions
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1.
FLASHCARD QUESTION
Front
The contribution margin ratio is...
Back
contribution margin divided by sales revenue
2.
FLASHCARD QUESTION
Front
Which is true of price-setters? Options: Their pricing approach emphasizes target costing, Their pricing approach emphasizes cost-plus pricing, They are in highly competitive markets, Their products lack uniqueness
Back
Their pricing approach emphasizes cost-plus pricing
3.
FLASHCARD QUESTION
Front
In the cost equation y = vx + f the term "v" stands for...
Back
variable cost per unit
4.
FLASHCARD QUESTION
Front
Which of the following is true about regression analysis? It is based on two data points, The resulting S-squared statistic shows how well the line fits the data points, It is theoretically less sound than the high-low method, It is sometimes referred to as the line of best fit
Back
It is sometimes referred to as the line of best fit
5.
FLASHCARD QUESTION
Front
A company with a low operating leverage
Back
has relatively more variable costs than fixed costs.
6.
FLASHCARD QUESTION
Front
Use the high-low method to determine the variable and fixed cost components of Swift Change's operating costs. Project the monthly operating costs for a month in which the company performs 3,900 oil changes.
Back
38,000
Answer explanation
7.
FLASHCARD QUESTION
Front
A legal firm wanted to determine the relationship between its monthly operating costs and a potential cost driver, professional hours. Given the output of a regression analysis, write the legal firm's monthly cost equation.
Back
y=.27x+947.20
Answer explanation
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