7. Which of the following charts best represent total variable costs? For each chart, the line represents the cost behavior pattern, the vertical axis represents costs, and the horizontal axis represents total volume, (A) Your answer is (В) (C) (D) Explain your answer: 8. Which of the following is NOT a cost estimation method? A) High-low cost estimation B) Scatter diagrams C) Least-square regre D) CVP analysis ions Your answer is Explain your answer: 9. Assume a local Cost Cutters provides cuts, perms, and hairstyling services. Annual fixed costs are $120,000, and variable costs are 40 percent of sales revenue. Determine its break-even point in sales dollars. A) $250,000 B) $200,000 c) $240,000 D) $360,000 Your answer is Explain your answer:

7. Which of the following charts best represent total variable costs? For each chart, the line represents the cost behavior pattern, the vertical axis represents costs, and the horizontal axis represents total volume, (A) Your answer is (В) (C) (D) Explain your answer: 8. Which of the following is NOT a cost estimation method? A) High-low cost estimation B) Scatter diagrams C) Least-square regre D) CVP analysis ions Your answer is Explain your answer: 9. Assume a local Cost Cutters provides cuts, perms, and hairstyling services. Annual fixed costs are $120,000, and variable costs are 40 percent of sales revenue. Determine its break-even point in sales dollars. A) $250,000 B) $200,000 c) $240,000 D) $360,000 Your answer is Explain your answer:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

7. Which of the following charts best represent total variable costs?
For each chart, the line represents the cost behavior pattern, the vertical
axis represents costs, and the horizontal axis represents total volume,
(A)
Your answer is
(B)
(C)
(D)
Explain your answer:
8. Which of the following is NOT a cost estimation method?
A) High-low cost estimation
B) Scatter diagrams
C) Least-square regressions
D) CVP analysis
Your answer is
Explain your answer:
9. Assume a local Cost Cutters provides cuts, perms, and hairstyling
services. Annual fixed costs are $120,000, and variable costs are 40
percent of sales revenue. Determine its break-even point in sales
dollars.
A) $250,000
B) $200,000
c) $240,000
D) $360,000
Your answer is
Explain your answer:

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