Solved

Select the Term from the List Provided That Best Matches

Question 153

Matching

Select the term from the list provided that best matches each of the following descriptions.

Premises:
A cost that remains constant in total when volume changes
The way a cost changes relative to changes in a measure of activity
A company's cost mix or relative proportion of variable and fixed costs to total costs
The difference between a company's sales revenue and its variable costs
Costs composed of both fixed and variable components
A cost that changes in total in direct proportion to changes in volume
A factor that causes (or drives) changes in costs
A condition in which a percentage change in revenue will produce a proportionately larger percentage change in net income
A method of estimating the fixed and variable components of a mixed cost using two data observations
A method of estimating the fixed and variable components of a mixed cost where data are plotted on a graph and a line is visually fit to the data
Responses:
Mixed cost
Operating leverage
Scattergraph method
Contribution margin
Fixed cost
Cost behavior
Activity base
Variable cost
Cost structure
High-low method

Correct Answer:

A cost that remains constant in total when volume changes
The way a cost changes relative to changes in a measure of activity
A company's cost mix or relative proportion of variable and fixed costs to total costs
The difference between a company's sales revenue and its variable costs
Costs composed of both fixed and variable components
A cost that changes in total in direct proportion to changes in volume
A factor that causes (or drives) changes in costs
A condition in which a percentage change in revenue will produce a proportionately larger percentage change in net income
A method of estimating the fixed and variable components of a mixed cost using two data observations
A method of estimating the fixed and variable components of a mixed cost where data are plotted on a graph and a line is visually fit to the data
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