If a firm were to downsize its salaried workforce and hire more hourly workers to meet the changing needs of production, this would most likely be an example of what effect on costs? a. For tax and accounting purposes costs of salaried workers will decrease the overall spending of the firm. Ob. This illustrates a fixed cost changing to a variable cost. Oc. This shows that some costs are partially fixed and partially variable. d. This is an example of how costs may not vary directly with each additional unit produced.

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Which one of the following statement is not correct? O Both fixed and variable costs influence short-term decision-making. O Short-term decision-making is all about analysing those costs that will change as a result of taking a particular action. O Opportunity costs are only considered when resources are limited. O Break-even analysis is used to determine how many units of a product or a service a business has to sell to cover all its costs.

The labor supply curve   a. may slope either upward or downward, depending upon the real wage   b. slopes downward to illustrate that a decrease in the real wage decreases the number of individuals willing to work   c. slopes upward to illustrate that more people will want to work as the real wage increases   d. slopes upward to illustrate that changes in the real wage are directly proportional to changes in the nominal wage   e. slopes downward to illustrate that the availability of workers is directly proportional to the real wage

Which of the following statements is CORRECT with respect to fixed costs per unit? Select one: A. They will decrease as production decreases. B. They will remain the same as production levels change. C. They will increase as production increases. D. They will increase as production decreases.

What are the differences between a company using absorption costing and variable costing when they give managers a bonus for meeting an annual income target?

1. What is the difference between absorption costing and variable costing? 2. Distinguish between product costs and period costs. 5. How is it possible, under absorption cost- ing, to increase net income by simply pro- ducing more goods? 6. What is the difference between gross mar- gin and manufacturing margin? 9. How is a contribution margin determined, and why is it important to management?  12. What is the break-even point?

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Describe the differences in behavior of fixed costs, variable costs, semi-variable costs and step costs. Then discuss how break-even analysis and contribution margin can be useful in making business decisions.

Which of the following best describes a fixed cost?   A. It may only change in total when such change is unrelated to changes in production volume (i.e. inflation).   B. It may change in total when such change is related to changes in production volume.   C. It is constant per unit of change in production volume.   D. It may change in total when such change depends on production volume within the relevant range.   QUESTION 2 Period costs are best described as those costs:   A. Incurred periodically (i.e. not on a regular basis).   B. Incurred as a result of activities that occur inside the production building.     C. That increase as a result of a change in volume for a particular period.   D. Incurred as a result of activities that occur outside of the production building. QUESTION 3 What is the result when the contribution margin ratio increases?   A. Break-even point increases   B. Fixed Cost…