Distinguish between ( a ) a variable cost, ( b ) a mixed cost, and ( c ) a step-variable cost. Plot thethree costs on a graph, with activity plotted horizontally and cost plotted vertically

Q: Assume that a straight line on a CVP chart intersects the vertical axis at the level of fixed costs…

A: CVP Chart:   Cost Volume Chart (CVP) chart refers to a graphical representation of the cost-volume…

Q: a) Define fixed, variable and semi-variable costs and give an example of each.

A: Since you have posted multiple questions we will do the first one for you. To get the remaining…

Q: Cost estimation is the process of   a. Summarizing pwst costs into fixed variable components.…

A: Solution: Cost estimation is the process of "Estimating the relationship between costs and the costs…

Q: R-squared is a measure of a. The spurious relationship between cost and activity D. The fxed cost…

A: R-Square measures that how much variation of a dependent variable is explained by a independent…

Q: Cost classifications used for predicting cost behavior include: Multiple Choice Variable cost and…

A: Variable costs are the costs that varies with the change in output but per unit variable cost…

Q: Requirements a. What is the slope coefficient? b. What is the constant for the estimated cost…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: In the mixed cost function Y A+ BX, total variable costs is represented by: O a. Y Ob. A BX C. BX O…

A: In accounting, the term mixed costs refers to costs and expenses that consist of two components: A…

Q: The intercept (straight line) on a graph of the linear cost function represents ....... cost

A: The cost function depicts the costs that will be incurred at various levels of activity Cost…

Q: a. What problems are associated with using the average cost per unit as a performance measure? b.…

A: Average cost per unit only rewards the manager for removing tasks or materials from the process…

Q: A total cost equation can be used to predict future costs for various activity levels. Write the…

A: Concept The total cost is the sum of variable cost and fixed cost incurred For example if variable…

Q: Assign costs to unitsusing the weighted-averagemethod.

A: Cost:   It refers to the economic value incurred by an organization for manufacturing a product or…

Q: A number of graphs displaying cost behavior patterns are shown below. The vertical axis on each…

A: A. Electricity bill graph is 6 as in this graph, the cost is constant for some specified volume and…

Q: The “line of best fit” may also be described as: a.the total variable cost line b.the total fixed…

A: Variable cost- A variable cost is a commercial expense that changes in amount to how much a…

Q: Which of the following statements related to cost estimation methods is true ? a . Only high -low…

A: When the total cost for the expenses change or does not change with the change in the output, it…

Q: On a CVP graph, the total cost line intersects the vertical (dollars) axis at the origin. the level…

A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…

Q: On a CVP graph, the total cost line intersects the vertical (dollars) axis at a. the origin. b. the…

A: Definition:   Cost-volume profit analysis: CVP analysis is a tool of cost accounting that measures…

Q: Which of the following statements regarding graphs of fixed and variable costs is true?  (a)…

A: Cost: In accounting, the cost is related to monetary value spend on raw material, services, and…

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: Identifying the relationship between the activity and the costs is a key step in which of the…

A: Scattergraph is a method of visual representation of the relationship between the cost & the…

Q: Types of Fixed and Variable cost with the help of example and graph?

A: Costs are the total spent amount for the expenditures and for producing the goods and services.…

Q: The graph of a variable cost when plotted against its related activity base appears as a a.circle…

A: Variable cost is a cost that increases with the increase in the level of production of a commodity.…

Q: The “fixed cost per unit function” may also be described as: a.an asymptote b.the total cost line…

A: Introduction:- Fixed costs, also known as indirect costs or overhead costs, are corporate expenses…

Q: Complete a locational cost–volume analysis graphically and mathematically

A: Locational cost volume analysis is way to find the volume of production at which the company break…

Q: a. What problems are associated with using the average cost per unit as a performance measure? b.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Describe variable costs and fixed costs and give an example of each.

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: When using the visual-fit method to estimate a cost function, we can estimate the fixed cost by O…

A: Visual Fit Method  It is the most common method used by analysts for examining the cost by the way…

Q: d.    Perpetual system, LIFO cost flow. e.    Periodic system, weighted-average cost flow. f.…

A: Perpetual inventory system - Movement of inventory is recorded on regular basis. Periodic inventory…

Q: Which of the following statements related to CVP chart is not true? O a. To calculate the total…

A: Cost-Volume-Profit (CVP) Analysis: It is a method followed to analyze the relationship between the…

Q: Explain variable costs, fi:xed costs, average variablecosts, average fixed costs, and average total…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: “All the independent variables in a cost function estimated with regression analysis are cost…

A: Cost driver: Cost driver is one of the measurements that help the company in tracing directly the…

Q: Distinguish the effect of First in first out (FIFO), Last in last out (LIFO) and average cost on…

A: There are three method of Inventory valuation  First in first out ( FIFO ) Last in first out ( LIFO…

Q: Classify each cost item of Pick, AUM branch, as variable, fixed or semi-variable.

A: Types of Cost 1. Variable Cost: The cost which vary with the variation in the volume of output is…

Q: Find the cost formula using the Scattergraph method

A: Scatter plot: It is a type of plot or mathematical diagram using Cartesian coordinates to display…

Q: Explain how the high-low method determines:a. The variable portion of a semivariable cost.b. The…

A: This method is used to segregate variable cost and fixed cost. In this method, highest level of…

Q: Distinguish between (a) cost behavior and (b)  a mixed cost, and (c) a step-variable cost. Plot the…

A: The following costs are categorized as per their behavior to the change in the level of output in…

Q: From the standpoint of cost control, why is the FIFO method superior to the weighted-averagemethod?…

A: FIFO method is First in First out method in which inventory which is purchased first will be sold…

Q: simple cost analysis method to identify fixed costs and variable costs in a linear cost function is…

A: High low method is method which separates the elements of fixed cost and variable cost from the…

Q: difference between absorption costing and variable costing

A: [Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: A factor that causes or leads to a change in a cost or activity is a(n) a. slope. b. intercept. c.…

A: (a) Costs are the expenditures that are incurred in the business for manufacturing or selling of…

Q: Which of the following is true about the hypothesis test of cost parameters? a) It indicates whether…

A: Hypothesis testing refers to the form of inferable statistics which allows us in making conclusions…

Q: On a graph, if a horizontal axis represents units of production and the vertical axis represents…

A: Solution: Total variable cost is dependent on nos of units produced and same will increase in same…

Q: Which of the following statements related to cost estimation methods is true? O a. The most complex…

A: Option c is correct.

Q: :On the cost-volume-profit graph, the intersection between the total cost line and (Y) axis…

A: The correct answer is  The fixed cost amount. b

Q: Using graphs, show how a semivariable (or mixed) cost behavior pattern can be used to approximate…

A:

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.