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Fixed Vs. Variable Costs

Authored by Rebecca Trotter

Fixed Vs. Variable Costs
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cost that remains unchanged - in total despite changes in voume of activity (within a relevant range) is a:

Fixed Cost.


Variable Cost.


Mixed Cost.


Total Cost.


2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cost that changes in proportion to changes in volume of activity is a(n):

Fixed Cost.


Variable Cost.


Product Cost.


Total cost


3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mixed cost includes both fixed & variable cost components

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following costs are most likely classified as variable?

Factory rent


Manager salaries


Straight Line depreciation


Direct Materials


5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following costs are most likely to be classified as fixed?

Shipping Costs


Sales Commissions


Direct Labor


Janitors working at corporate headquarters.


6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A company's normal operating range (excluding extremely high or low operating level not likely to ccur) is called

Margin of Safety.


High-low Point


Break-even


Relevant Range


7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A method that estimates cost behavior by using just the highest and lowest volume levels is called the

Scatter method.


High-low method.


Step-wise method.


Regression

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