Answered: The learning curve concept suggests:…

The learning curve concept suggests: (a) Unit costs decrease with experience (b) Fixed costs vary with volume (c) Quality decreases over time (d) Costs increase with production

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 12MC: Which statement is correct? A. Activity-based cost systems are less costly than traditional cost...

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The learning curve concept suggests: (a) Unit costs decrease with experience (b) Fixed costs vary with volume (c) Quality decreases over time (d) Costs increase with production

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The marginal cost is: Select one: O a. Is the incremental cost of an activity, such as producing a unit of goods or services O b. Is the cost that causes change in total cost for a cost object O c Is the span of activity levels for which the cost behaviour patterns hold O d. Is the input or activity that causes change in total cost for a cost object
Which statement is correct? A. Activity-based cost systems are less costly than traditional cost systems. B. Activity-based cost systems are easier to implement than traditional cost systems. C. Activity-based cost systems are more accurate than traditional cost systems. D. Activity-based cost systems provide the same data as traditional cost systems.
A scatter graph is used to test the assumption that the relationship between cost and activity level is __________________________. A. curvilinear B. cyclical C. unpredictable D. linear
Which of the following graphs best illustrates fixed costs per unit as the activity base changes?
When is multiple regression required to explain cost behavior?
Describe how total variable costs and unit variable costs behave with changes in the level of activity
R-squared is a measure of a. The spurious relationship between cost and activity b. The fxed cost component C The variable cost per unit activity d. How well the regression line accounts for the changes in the dependent variable
Variable costs are costs that: A.vary inversely proportional with changes in activity B.Remain constant as activity changes C.Decrease on a per unit basis as activity increases D.Remain constant on a per unit basis as activity changes
What is characteristic of variable costs within the relevant range? A. Decrease in total as as output increases B. Stay constant in total as output increases C. Decrease on a per-unit basis as output increases D. Stay constant on a per-unit basis as output changes
Which of the following defines variable cost behavior?a. Total cost reaction to increase in activity (Remain Constant); Cost per unit reaction toincrease in activity (Remains Constant)b. Total cost reaction to increase in activity (Remain Constant); Cost per unit reaction toincrease in activity (Increases)c. Total cost reaction to increase in activity (Increases); Cost per unit reaction to increasein activity (Increases)d. Total cost reaction to increase in activity (Increases); Cost per unit reaction to increasein activity (Remains Constant)
The contribution margin approach helps managers in short-term decision making because it A. reports costs and revenues at present value B. reports only mixed costs C. treats fixed manufacturing overhead as product costs D. isolates costs by behavior
Describe how total variable costs and unit variable costs behave as the level of activity increases?