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Test Bank of Managareial Accounting 15th Edition By Garrison
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Question Type Difficulty LO1: Direct and indirect costs LO2: DM, DL, Manuf. overhead LO3: Period and product costs LO4: Variable, fixed, and mixed costs LO5: High-low method LO6: Income statement formats LO7: Decision-making cost classifications Professional exam adapted 1 T/F E x 2 T/F ...

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  • August 19, 2023
  • 3436
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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  • complete test bank
  • test bank of managareial accounting 15th edition

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  • Accounting Test Bank
  • Accounting Test Bank
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, Question Type Difficulty LO1: Direct and indirect costs LO2: DM, DL, Manuf.
overhead LO3: Period and product costs LO4: Variable, fixed, and mixed costs LO5: High-low
methodLO6: Income statement formats LO7: Decision-making cost classifications LO8: Least
squares regression (App 2A) Professional exam adapted

1 T/F E x

2 T/F E x

3 Conceptual M/C E
x

4 Single Part M/C H x

5 Single Part M/C H x

6 Single Part M/C H x

APP02A-Ref1 7-11 Multipart M/C M-H x
x

APP02A-Ref2 12-13 Multipart M/C M
x

APP02A-Ref3 14-15 Multipart M/C M
x

16 Problem H x x

17 Problem H x x

18 Problem H x

19 Problem H x

20 Problem H x

21 Problem H x



Appendix 02A

Least-Squares Regression Computations

,True / False Questions



1. The R2 (i.e., R-squared) is a measure of the goodness-of-fit in least-squares regression.



True False



2. When analyzing a mixed cost, you should always plot the data in a scattergraph, but it is
particularly important to check the data visually on a scattergraph when the R2 from a least squares
regression is low. A quick look at the scattergraph can reveal that there is little relation between the cost
and the activity or that the relation is something other than a simple straight line.



True False




Multiple Choice Questions



3. _________________ is a method of separating a mixed cost into its fixed and variable elements
by fitting a line to the data that minimizes the sum of the squared errors.




A. Account analysis



B. Scattergraph



C. High-low

, D. Least-square regression




4. 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.




Using the least-squares regression method, what is the cost formula for this cost?




A. Y = $0.00 + $7.55X



B. Y = $110.44 + $2.70X



C. Y = $103.38 + $3.00X



D. Y = $113.35 + $0.89X




5. The management of Bandle Corporation would like for you to analyze their repair costs, which
are listed below:

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