Cornerstones of Managerial Accounting Study Set 1

Business

Quiz 3 :
Cost Behaviour

Quiz 3 :
Cost Behaviour

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Which of the following processes requires one to know how costs change as output changes?
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Answer:

C

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Which factor causes or leads to a change in a cost or activity?
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Answer:

C

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What is characteristic of a fixed cost within the relevant range?
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Answer:

B

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Which of the following is an example of a fixed cost?
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Which of the following is likely a fixed cost in a fast-food restaurant?
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What is relevant range?
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If output increases by 60% and is still within the relevant range,what will be the most likely result?
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What does cost behaviour analysis focus on?
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What is the range of activity within which a cost function is valid?
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When the level of activity increases within the relevant range,what is the effect on the fixed cost per unit?
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What is the relationship between per-unit fixed costs and output?
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Which of the following is characteristic of discretionary fixed costs?
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What is an example of a discretionary cost?
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What is an example of a discretionary fixed cost?
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What is characteristic of a committed fixed cost?
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What is a discretionary fixed cost for a doctor's office?
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What is a committed fixed cost for a coffee shop?
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What is a variable cost in a factory?
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What is characteristic of variable costs within the relevant range?
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What is a variable cost for a medical lab?
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