(Learning Objective 1) A graph of a variable cost starts at a. any point on the y -axis and is horizontal. b. any point on the y -axis and slopes upward. c. the origin and slopes upward. d. the origin and is horizontal.

Question

Want to see more full solutions like this?

Answer 1

Textbook Question

Chapter 6, Problem 1QC

(Learning Objective 1) A graph of a variable cost starts at

a. any point on the y-axis and is horizontal.
b. any point on the y-axis and slopes upward.
c. the origin and slopes upward.
d. the origin and is horizontal.

Expert Solution & Answer

To determine

To identify: The appropriate answer to the given statement.

Answer to Problem 1QC

The graph of a variable cost starts at the origin and slopes upward.

Explanation of Solution

Variable cost is the cost which incurs for every unit of volume produced. Total variable cost change according to the change in volume. Total variable cost is directly proportioned to the changes in volume.

a.

Any point on the y-axis and is horizontal: This option is incorrect because the Fixed cost is the cost that does not change with the change in output level. The graph which starts with any point on the y-axis and is flat or horizontal is the graph which represents the fixed cost.

b.

Any point on the y-axis and slopes upward: This is not the correct option total cost is the cost which comprises of the sum of fixed cost and variable cost. The graph of fixed cost starts with the y-axis and is constant and the graph of variable cost starts with the origin and slopes upward. So, the graph of the total cost starts with any point on the y-axis and the slope of the total cost is downward sloping.

c.

The origin and slopes upward: The option is incorrect as the graph that starts with the origin and slopes upward is the graph of variable cost. Variable cost is the cost that changes with the change in the level of output.

d.

The origin and is horizontal: This is not the correct option because the graph that starts with the origin and is horizontal shows zero value and lie on the x-axis and it shows the production level or the production line on the graph.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

In the learning curve equation Y = aXb, the Y term represents: Multiple Choice the cumulative number of units. the labor time required to produce the first unit. the index of learning. the labor time required to produce the last single unit.

Define learning curve. Outline two models that can be used when incorporating learning into the estimation of cost functions.

Learning Outcomes Addressed: This assessment item addresses the following unit learning outcomes (ULOs) as described in the Unit Outline: 1. Clear understanding of various cost terms, cost behaviour and the role of overhead cost in pricing decisions 2. Ability to apply Activity Based Costing (ABC) techniques to an actual business in order to arrive at the most accurate costing for products. requirement: kindly adress these two question in detail. (please avoid any kind of plagorism and copy past and then paraphrasing )

Answer 2

Textbook Question

Chapter 6, Problem 1QC

(Learning Objective 1) A graph of a variable cost starts at

a. any point on the y-axis and is horizontal.
b. any point on the y-axis and slopes upward.
c. the origin and slopes upward.
d. the origin and is horizontal.

Expert Solution & Answer

To determine

To identify: The appropriate answer to the given statement.

Answer to Problem 1QC

The graph of a variable cost starts at the origin and slopes upward.

Explanation of Solution

Variable cost is the cost which incurs for every unit of volume produced. Total variable cost change according to the change in volume. Total variable cost is directly proportioned to the changes in volume.

a.

Any point on the y-axis and is horizontal: This option is incorrect because the Fixed cost is the cost that does not change with the change in output level. The graph which starts with any point on the y-axis and is flat or horizontal is the graph which represents the fixed cost.

b.

Any point on the y-axis and slopes upward: This is not the correct option total cost is the cost which comprises of the sum of fixed cost and variable cost. The graph of fixed cost starts with the y-axis and is constant and the graph of variable cost starts with the origin and slopes upward. So, the graph of the total cost starts with any point on the y-axis and the slope of the total cost is downward sloping.

c.

The origin and slopes upward: The option is incorrect as the graph that starts with the origin and slopes upward is the graph of variable cost. Variable cost is the cost that changes with the change in the level of output.

d.

The origin and is horizontal: This is not the correct option because the graph that starts with the origin and is horizontal shows zero value and lie on the x-axis and it shows the production level or the production line on the graph.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 6, Problem 1QC

(Learning Objective 1) A graph of a variable cost starts at

a. any point on the y-axis and is horizontal.
b. any point on the y-axis and slopes upward.
c. the origin and slopes upward.
d. the origin and is horizontal.

Expert Solution & Answer

To determine

To identify: The appropriate answer to the given statement.

Answer to Problem 1QC

The graph of a variable cost starts at the origin and slopes upward.

Explanation of Solution

Variable cost is the cost which incurs for every unit of volume produced. Total variable cost change according to the change in volume. Total variable cost is directly proportioned to the changes in volume.

a.

Any point on the y-axis and is horizontal: This option is incorrect because the Fixed cost is the cost that does not change with the change in output level. The graph which starts with any point on the y-axis and is flat or horizontal is the graph which represents the fixed cost.

b.

Any point on the y-axis and slopes upward: This is not the correct option total cost is the cost which comprises of the sum of fixed cost and variable cost. The graph of fixed cost starts with the y-axis and is constant and the graph of variable cost starts with the origin and slopes upward. So, the graph of the total cost starts with any point on the y-axis and the slope of the total cost is downward sloping.

c.

The origin and slopes upward: The option is incorrect as the graph that starts with the origin and slopes upward is the graph of variable cost. Variable cost is the cost that changes with the change in the level of output.

d.

The origin and is horizontal: This is not the correct option because the graph that starts with the origin and is horizontal shows zero value and lie on the x-axis and it shows the production level or the production line on the graph.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 6, Problem 1QC

(Learning Objective 1) A graph of a variable cost starts at

a. any point on the y-axis and is horizontal.
b. any point on the y-axis and slopes upward.
c. the origin and slopes upward.
d. the origin and is horizontal.

Expert Solution & Answer

To determine

To identify: The appropriate answer to the given statement.

Answer to Problem 1QC

The graph of a variable cost starts at the origin and slopes upward.

Explanation of Solution

Variable cost is the cost which incurs for every unit of volume produced. Total variable cost change according to the change in volume. Total variable cost is directly proportioned to the changes in volume.

a.

Any point on the y-axis and is horizontal: This option is incorrect because the Fixed cost is the cost that does not change with the change in output level. The graph which starts with any point on the y-axis and is flat or horizontal is the graph which represents the fixed cost.

b.

Any point on the y-axis and slopes upward: This is not the correct option total cost is the cost which comprises of the sum of fixed cost and variable cost. The graph of fixed cost starts with the y-axis and is constant and the graph of variable cost starts with the origin and slopes upward. So, the graph of the total cost starts with any point on the y-axis and the slope of the total cost is downward sloping.

c.

The origin and slopes upward: The option is incorrect as the graph that starts with the origin and slopes upward is the graph of variable cost. Variable cost is the cost that changes with the change in the level of output.

d.

The origin and is horizontal: This is not the correct option because the graph that starts with the origin and is horizontal shows zero value and lie on the x-axis and it shows the production level or the production line on the graph.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

To identify: The appropriate answer to the given statement.

Answer to Problem 1QC

The graph of a variable cost starts at the origin and slopes upward.

Explanation of Solution

Variable cost is the cost which incurs for every unit of volume produced. Total variable cost change according to the change in volume. Total variable cost is directly proportioned to the changes in volume.

a.

Any point on the y-axis and is horizontal: This option is incorrect because the Fixed cost is the cost that does not change with the change in output level. The graph which starts with any point on the y-axis and is flat or horizontal is the graph which represents the fixed cost.

b.

Any point on the y-axis and slopes upward: This is not the correct option total cost is the cost which comprises of the sum of fixed cost and variable cost. The graph of fixed cost starts with the y-axis and is constant and the graph of variable cost starts with the origin and slopes upward. So, the graph of the total cost starts with any point on the y-axis and the slope of the total cost is downward sloping.

c.

The origin and slopes upward: The option is incorrect as the graph that starts with the origin and slopes upward is the graph of variable cost. Variable cost is the cost that changes with the change in the level of output.

d.

The origin and is horizontal: This is not the correct option because the graph that starts with the origin and is horizontal shows zero value and lie on the x-axis and it shows the production level or the production line on the graph.

Answer 8

Expert Solution & Answer

To determine

To identify: The appropriate answer to the given statement.

Answer to Problem 1QC

The graph of a variable cost starts at the origin and slopes upward.

Explanation of Solution

Variable cost is the cost which incurs for every unit of volume produced. Total variable cost change according to the change in volume. Total variable cost is directly proportioned to the changes in volume.

a.

Any point on the y-axis and is horizontal: This option is incorrect because the Fixed cost is the cost that does not change with the change in output level. The graph which starts with any point on the y-axis and is flat or horizontal is the graph which represents the fixed cost.

b.

Any point on the y-axis and slopes upward: This is not the correct option total cost is the cost which comprises of the sum of fixed cost and variable cost. The graph of fixed cost starts with the y-axis and is constant and the graph of variable cost starts with the origin and slopes upward. So, the graph of the total cost starts with any point on the y-axis and the slope of the total cost is downward sloping.

c.

The origin and slopes upward: The option is incorrect as the graph that starts with the origin and slopes upward is the graph of variable cost. Variable cost is the cost that changes with the change in the level of output.

d.

The origin and is horizontal: This is not the correct option because the graph that starts with the origin and is horizontal shows zero value and lie on the x-axis and it shows the production level or the production line on the graph.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

To identify: The appropriate answer to the given statement.

Answer 12

Answer to Problem 1QC

The graph of a variable cost starts at the origin and slopes upward.

Answer 13

Explanation of Solution

Variable cost is the cost which incurs for every unit of volume produced. Total variable cost change according to the change in volume. Total variable cost is directly proportioned to the changes in volume.

a.

Any point on the y-axis and is horizontal: This option is incorrect because the Fixed cost is the cost that does not change with the change in output level. The graph which starts with any point on the y-axis and is flat or horizontal is the graph which represents the fixed cost.

b.

Any point on the y-axis and slopes upward: This is not the correct option total cost is the cost which comprises of the sum of fixed cost and variable cost. The graph of fixed cost starts with the y-axis and is constant and the graph of variable cost starts with the origin and slopes upward. So, the graph of the total cost starts with any point on the y-axis and the slope of the total cost is downward sloping.

c.

The origin and slopes upward: The option is incorrect as the graph that starts with the origin and slopes upward is the graph of variable cost. Variable cost is the cost that changes with the change in the level of output.

d.

The origin and is horizontal: This is not the correct option because the graph that starts with the origin and is horizontal shows zero value and lie on the x-axis and it shows the production level or the production line on the graph.

Answer 14

Ch. 6 - (Learning Objective 1) A graph of a variable cost...Ch. 6 - (Learning Objective 2) Which of the following is...Ch. 6 - (Learning Objective 2) In the cost equation...Ch. 6 - Prob. 4QC Ch. 6 - Prob. 5QC Ch. 6 - (Learning Objective 3) Which of the following is...Ch. 6 - Prob. 7QC Ch. 6 - (Learning Objective 5) Which of the following is...Ch. 6 - Prob. 9QC Ch. 6 - Prob. 10QC

(Learning Objective 1) A graph of a variable cost starts at a. any point on the y -axis and is horizontal. b. any point on the y -axis and slopes upward. c. the origin and slopes upward. d. the origin and is horizontal.

Concept explainers

Videos

Answer to Problem 1QC

Explanation of Solution

Want to see more full solutions like this?

Chapter 6 Solutions