Answered: The following data points are…

Business

Accounting

The following data points are available. This is an example of a ________ cost. Units Costs 600 $560 650 $565 800 $580

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 6CDQ: Which of the following graphs illustrates how total fixed costs be have with changes in total units...

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

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The following data points are available. This is an example of a ________ cost.

Units Costs
600 $560
650 $565
800 $580
900 $590
A) variable B) fixed C) mixed D) none of the above

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In describing the cost formula equation, Y = a + bX, which of the following is correct: Select one or more: a. (a) means variable cost per unit b. (X) means total variable cost V c. (a) means fixed cost d. (y) means total fixed costs
Which of the following statements related to CVP chart is not true? O a. To determine the variable cost per unit from a graph, the change in cost is divided by the change in units. O b. The scatter graph method is a way to estimate the cost behavior by graphically connecting the two cost amounts identified with the highest and lowest volume levels. O c. The slope of the total cost line determines the variable cost per unit. O d. To calculate the total fixed cost from a graph is by multiplying a level of volume by the variable cost per unit found out earlier and subtracting that from the total cost for that level of volume. e. The intercept between the total cost line on a graph and the y-axis determines the fixed cost. f. None of the given answers.
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The left column lists several cost classifications. The right column presents short definitions of those costs. In the blank space beside each of the numbers in the right column, write the letter of the cost best described by the definition. A. Total cost B. Mixed cost C. Variable cost D. Curvilinear cost E. Step-wise cost F. Fixed cost 1. This cost is the combined amount of all the other costs. 2. This cost remains constant over a limited range of volume; when it reaches the end of its limited range, it changes by a lump sum and remains at that level until it exceeds another limited range. 3. This cost has a component that remains the same over all volume levels and another component that increases in direct proportion to increases in volume. 4. This cost increases when volume increases, but the increase is not constant for each unit produced. 5. This cost remains constant over all volume levels within the productive capacity for the planning period. 6. This cost increases in direct…
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I'm not sure what the total cost formula is
In describing the cost formula equation, Y = a + bX, which of the following is correct?a. “Y” is the independent variableb. “a” is the variable cost per unitc. “a” and “b” are valid for all levels of activityd. in the high-low method, “b” equals the change in cost divided by the change in activity.
Please do not give solution in image format thanku
Q. 2 (b1)
Your boss would like you to estimate the fixed and variable components of a particular cost Actual data for this cost over four recent periods appear below. Activity Cost Period 1 22 235 Period 2 23 243 Period 3 25 255 Period 4 20 227 Using the least-squares regression method, what is the cost formula for this cost? Y = P107.45 + P5.89X O Y = P0.00 + P10.67X O Y = P111.92 + P5.69X O Y = P120.81 + P3.56X