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Question 320

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A statistical procedure for determining the line that best fits the data by using all of the historical data points, not just the high and low dida points

Regression analysis

A cost behaviour that is not linear (not a straight line).

Outliers

Sales revenue minus variable expenses

Cost equation

A method for determining cost behaviour that is based on a manager's jud gment in classifying each account as to its cost behaviour

Mixed costs

Abnormal data points; data points that do not fall in the same general pattern as the other data points

High-low

A mathematical equation for a straight line that expresses how a cost behaves

Step costs

Costs that change, but NOT in direct proportion to changes in volume Knowledge

Variable costs

Describes how costs change as volume changes

Account analysis

Costs that do not change in total despite wide changes in volume

Cost behaviour

A cost behaviour that is fixed over a small range of activity and then jumps to a different fixed level with moderate changes in volume

Fixed costs

Costs that change in total in direct proportion to changes in volume

Contribution margin

A method for determining cost behaviour that is based on two historical data points: the highest and lowest volume of activity

Curvilinear costs

Premises:

A statistical procedure for determining the line that best fits the data by using all of the historical data points, not just the high and low dida points

A cost behaviour that is not linear (not a straight line).

Sales revenue minus variable expenses

A method for determining cost behaviour that is based on a manager's jud gment in classifying each account as to its cost behaviour

Abnormal data points; data points that do not fall in the same general pattern as the other data points

A mathematical equation for a straight line that expresses how a cost behaves

Costs that change, but NOT in direct proportion to changes in volume Knowledge

Describes how costs change as volume changes

Costs that do not change in total despite wide changes in volume

A cost behaviour that is fixed over a small range of activity and then jumps to a different fixed level with moderate changes in volume

Costs that change in total in direct proportion to changes in volume

A method for determining cost behaviour that is based on two historical data points: the highest and lowest volume of activity

Responses:

Regression analysis

Outliers

Cost equation

Mixed costs

High-low

Step costs

Variable costs

Account analysis

Cost behaviour

Fixed costs

Contribution margin

Curvilinear costs

Correct Answer:

Premises:

Responses:

A statistical procedure for determining the line that best fits the data by using all of the historical data points, not just the high and low dida points

A cost behaviour that is not linear (not a straight line).

Sales revenue minus variable expenses

A method for determining cost behaviour that is based on a manager's jud gment in classifying each account as to its cost behaviour

Abnormal data points; data points that do not fall in the same general pattern as the other data points

A mathematical equation for a straight line that expresses how a cost behaves

Costs that change, but NOT in direct proportion to changes in volume Knowledge

Describes how costs change as volume changes

Costs that do not change in total despite wide changes in volume

A cost behaviour that is fixed over a small range of activity and then jumps to a different fixed level with moderate changes in volume

Costs that change in total in direct proportion to changes in volume

A method for determining cost behaviour that is based on two historical data points: the highest and lowest volume of activity