Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1) For automobile manufacturer, cost of driver's side air bag bought from a supplier and installed in every automobile would best be describeed as a:

a. fixed cost.
b. mixed cost.
c. step-variable cost.
d. variable cost.

2) Vicuna Wool Company manufactures and sells sweaters. Last year, Vicuna operated at 100% of capacity and had following cost formula for total manufacturing costs:
Y = $50,000 + $400X

Supposing no change in cost structure, what would Vicuna's cost formula have been last year if they only operated at 90% of production capacity?

a. Y = $45,000 + $360X
b. Y = $45,000 + $400X
c. Y = $50,000 + $360X
d. Y = $50,000 + $400X

3) High-low method uses cost and activity data from just two periods to establish cost formula.

i) True
ii) False

4) Contribution margin equals revenue minus all variable costs.

i) True
ii) False

5) When more than one factor causes variations in variable element of mixed cost, multiple regression analysis must be used.

i) True
ii) False

6) Contribution income statement organizes costs according to behaviour.

i) True
ii) False

7) Term "relevant range" refers to levels of activity within which suppositions relative to cost behaviour are valid.

i) True
ii) False

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916283
  • Price:- $15

Guranteed 24 Hours Delivery, In Price:- $15

Have any Question? 


Related Questions in Accounting Basics

Part a -exercise 1 - california graphics is a us

Part A - Exercise 1 - California Graphics is a U.S. corporation with $200 million of U.S.-source income and $10 million of foreign-source income. In addition, California Graphics has three-quarters ownership of a Canadia ...

Flint hills companys most recent financial statements

Flint Hills Company's most recent financial statements showed dismal performance. There was a net loss of $10,000 and the Statement of Cash Flows showed a net cash decrease in all categories. The company president called ...

To make sure you are up to date on the special guidelines

To make sure you are up to date on the special guidelines the GASB has declared, your manager asked you to research GASB Statement No. 56. He also asked you to show him, side by side, how government accounting journal en ...

Course project portfolio of international accounting

Course Project: Portfolio of International Accounting Findings Throughout your course work, you explored topics such as cost and revaluation models of accounting, revenue recognition, assets and liabilities, translation ...

On december 31 2017 buffalo company signed a 1137500 note

On December 31, 2017, Buffalo Company signed a $1,137,500 note to Carla Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually. The note matures in 5 years. Un ...

Accountingthe accepted microsoft office versions for this

Accounting The accepted Microsoft Office versions for this assignment are Microsoft Office 2013 (for PC) and Microsoft Office for Mac 2011 (for Macintosh). Students may use a more recent version if available. Select a pe ...

Accounting assignmentcolorado springs company csc is a

Accounting Assignment Colorado Springs Company (CSC) is a wholesaler with fiscal year ended December 31 of previous year. Since it is publicly-traded, it undergoes external audit. The most recent audit was completed in F ...

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around acquisition accounting to a real-world example. Requirements for the assignment: Each student will select ...

Assessment cloud on-line accounting and systems

Assessment: Cloud On-line Accounting and Systems Documentation You are working as an accountant in an accounting firm. You have been approached by the owner of "Splash!" a start-up business that sells swimming accessorie ...

Part one - sage transactionsyou will be given a fictitious

PART ONE - SAGE TRANSACTIONS You will be given a fictitious company which you will need to set up, record two months of transactions and produce financial statements for. You will need to use your professional judgement ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro