Requirement 3. How can you obtain better estimates of fixed and variable​ costs? Why would these better estimates be useful to Gower​?   Cost classification into variable and fixed costs is based on

Q: ‘Costs maybe classified in a different type of behavioural costs such as variable and fixed costs…

A: solution : concept : variable costs               variable costs are those costs which varies along…

Q: Which of the following statements is NOT true? A) Total variable costs change with volume B) Fixed…

A: Variable Cost change with level of activity Fixed Costs per unit changes when the level of activity…

Q: Q2. Describe how total variable costs and unit variable costs behave with changes in the level of…

A: This is a theory question and we will explain Total variable cost and unit variable costs behave…

Q: . What is the difference between variable and fixed costs? Also explain how the total variable cost…

A: " Since you have posted more than two questions and not specified which should be solved so we are…

Q: incremental analysis, Group of answer choices costs are not relevant if they change between…

A: In carrying out the incremental analysis only relevant costs are to be considered in the decision…

Q: Which cost estimation method is the least accurate or the most subjective?  account analysis…

A: Account analysis method of cost estimation decided whether the cost is fixed or variable it depends…

Q: Which of the following cost behavior assumptions is true? (You may select morethan one answer.)a.…

A: Variable cost: The cost which changes according to the level of activity. These are not fixed in…

Q: How would the equation for total costs be written using the following? y = total costs v =…

A: Variable costs are costs that change with change in volume of production . Whereas, Fixed costs…

Q: 3. Which of the following is correct regarding a relevant range? a Total variable costs will not…

A: A Relevant Range is the Range of Activity above which the Variable Cost Per Unit and The Total Fixed…

Q: Within the relevant range, if there is a change in the level of the cos a. Total fixed costs and…

A: Fixed cost will change and total cost will remain the same.

Q: re mixed costs treated? Answer:

A: Mixed Cost - Mixed cost is the combination of two categories of costs, namely fixed and variable…

Q: “Increasing the number of indirect-cost pools is guaranteed to sizably increase the accuracy of…

A: Indirect cost pool refers to the accumulated cost that jointly benefits two or more costs…

Q: Select the correct statement regarding fixed costs. They do not change, because fixed costs should…

A:

Q: Which of the following statements related to CVP chart is not true? a. None of the given answers. O…

A: Cost volume profit chart is the chart which shows total cost line, total revenue and profit for all…

Q: Cost-Capacity calculation technique takes into account a constant exponent to relate different costs…

A: Sensitivity analysis is financial analysis that determine The potential percent gain or loss in…

Q: Which of the following are assumptions associated with the cost equation? Check all that apply. The…

A: Cost equation means a line or formula which shows both types of cost like fixed costs and variable…

Q: What is meant by an activity base when dealing with variable costs? Give several examples of…

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

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: In making a short-term special decision, which of the following is MOST important? a. Use a…

A: Solution Concept The decision that is to be taken differs from one another on the basis of the time…

Q: Consider the following slide: Question 4-1.png   On this slide: Group of answer choices Sales,…

A: The variance is the difference between the actual data and standard output of the production.  The…

Q: 3. The elements of CVP analysis include the following, except a. total fixed costs. b. unit variable…

A: Lets understand the basics. CVP analysis is abbreviation of cost - volume profit analysis. It is a…

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: ASAP Kindly give a full explanation for each option why it is correct or why others are wrong   1…

A: Process costing is one of the important section of cost accounting, under which costs and expenses…

Q: Differentiate variable cost from fixed cost. Please help me I really need the answer, clear…

A: Cost accounting is the one that is used to calculate the production cost per unit or in total a…

Q: Differentiate variable cost from fixed cost. Hope you

A: The cost function is a function that is used to show how production expense will change at different…

Q: In your own words, explain what differential costs mean. How are fixed costs and variable costs…

A: The cost can be classified on the basis of nature variable or fixed. The variable cost are directly…

Q: 12) Which of the following techniques is not used to analyze cost bechavior? A) Least-squares…

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

Q: Relevant range is the activity that affects the increase or decrease of costs Select one: O True…

A: Lets first understand the meaning of relevant range. Relevant range is a range at which fixed cost…

Q: The simplifying assumption that costs and volume vary in straight-line relationships makes the…

A: Cost Volume Profit Analysis is a method of costing that has an impact on the varying levels of cost…

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: An easy way to estimate the variable and fixed costs components of a mixed cost is by: 1. a scatter…

A: There are two main cost estimation methods used to estimate amounts of fixed and variable costs are…

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: Do you agree from the following statements- Explain in details with examples 1.Variable costs are…

A: IntroductionProduction cost may be defined as that type of expenses which occurs during the…

Q: What type of cost is expertise? Is it a fixed cost or a variable cost? Defend your answer.

A: SOLUTION- FIXED COST  ARE THOSE COST WHICH DO NOT CHANGE WITH A REASONABLE LEVEL OF CHANGE .…

Q: Determine the variable cost per unit and the fixed cost using the high-low method. 2. What is the…

A: Variable Cost per unit= (Highest units - Lowest units)/ (Highest Cost- Lowest Cost)…

Q: Contribution Margin, Cost-Volume-Profit Analysis and Break-Even Point (Overview) Fixed, Variable…

A: -Variable cost refers to an expenditure that varies in gross dollar value as the degree of…

Q: What is the term used to describe costs that increase in steps? A. Variable costs B. Fixed costs…

A: Cost is referred as the essential part of the business or a company which looks after the costs such…

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.