Differential Costs are the difference in cost between any two alternative choices True False
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- Describe how the scattergraph method breaks out the fixed and variable costs from a mixed cost. Now describe how the high-low method works. How do the two methods differ?Which of the following statements is false? (You may select more than one answer.)a. Under some circumstances, a sunk cost may be a relevant cost.b. Future costs that do not differ between alternatives are irrelevant.c. The same cost may be relevant or irrelevant depending on the decision context.d. Only variable costs are relevant costs. Fixed costs cannot be relevant costs.________ are the costs associated with not choosing the other alternative.A. Sunk costsB. Opportunity costsC. Differential costsD. Avoidable costs
- 4. In incremental analysis, Group of answer choices costs are not relevant if they change between alternatives. all costs are relevant if they change between alternatives. only fixed costs are relevant. only variable costs are relevant._______________ are the costs associated with not choosing the other alternative Sunk costs Opportunity costs Differential costs Avoidable costsThe potential benefit of one alternative that is lost by choosing another is known as a. An alternative cost. d. An opportunity cost. b. A sunk cost. e. An out-of-pocket cost. c. A differential cost.
- The distinction between indirect and direct costs depends on: Select one: a. whether a cost differs between alternatives. b. whether a cost is variable or fixed. c. whether a cost is a product or a period cost. d. whether a cost can be easily traced to the cost object under consideration. e. all of the above statements are correct.The difference between absorption costing and variable costing is: Question 5 options: the treatment of fixed MOH. the timing with which fixed MOH is expensed. both of the above are differences. none of the above are differences.Which of the following best describes an "opportunity cost"? Group of answer choices costs that were incurred in the past and cannot be changed The distribution of all products to be sold Expected future costs that differs among alternatives Benefits foregone by not choosing an alternative course of action
- Future costs that differ across alternatives are: a. Opportunity costsb. Sunk costsc. Relevant costsd. Variable costsIn a decision analysis situation, which one of the following costs is generally not relevant to the decision?A. Differential cost.B. Avoidable cost.C. Incremental cost.D. Historical cost.Which of the following is an irrelevant cost? Group of answer choices An avoidable cost An incremental cost A sunk cost An opportunity cost