In describing the cost formula equation, Y = a + bX, which of the following is correct:Select one or more:a. (a) means variable cost per unitb. (X) means total variable costV c. (a) means fixed costd. (y) means total fixed costs

The cost volume formula is denoted by - Y= a + bx where- “Y” is total cost “a” is the total fixed…

Answered: In describing the cost formula…

Business

Accounting

In describing the cost formula equation, Y = a + bX, which of the following is correct:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 17MC: In the cost equation Y=a+bx, Y represents which of the following? A. fixed costs B. variable costs...

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Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.

Question

In describing the cost formula equation, Y = a + bX, which of the following is correct:
Select one or more:
a. (a) means variable cost per unit
b. (X) means total variable cost
V c. (a) means fixed cost
d. (y) means total fixed costs

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