ACCT212 Chapter 5 Exam Questions and Correct Answers Latest Update 2025 (Rated A+)
Cost-volume-profit analysis helps managers predict how changes in and levels affect income. - Answers Blank 1: cost or costs
Blank 2: sales
A cost remains unchanged when the volume of activity changes within the r...
Cost-volume-profit analysis helps managers predict how changes in and levels affect income. - Answers
Blank 1: cost or costs
Blank 2: sales
A cost remains unchanged when the volume of activity changes within the relevant range. - Answers
Blank 1: fixed
Which of the following is the correct statement about variable costs? - Answers The variable cost per
unit does not change when volume changes.
A cost includes both fixed and variable components. - Answers Blank 1: mixed
Match each example below to the correct cost type - Answers Fixed---Office salaries
Mixed---Sales rep pay which includes salary plus commission
Variable---direct materials
CVP analysis looks at how _ is affected by sales price per unit, variable costs per unit, volume, and fixed
costs. - Answers Blank 1: income or profit
Which of the following is the correct statement about fixed costs? - Answers The fixed cost per unit will
decrease when volume increases.
A cost changes in proportion to changes in volume of activity. - Answers Blank 1: variable
Each of the following are methods used to separate mixed costs into their fixed and variable
components except: - Answers low-high method
Jack works on the production line at an assembly plant. Jack receives a base salary plus $1.25 per unit
assembled. This is an example of a ______ cost. - Answers mixed
True or false: On a scatter diagram, costs are plotted on the horizontal axis. - Answers False
Match each example below to the correct cost type. - Answers Fixed - Depreciation
Variable - Direct materials
Mixed - Water and electricity
The high-low method uses ___ points to estimate the cost equation. - Answers 2
A statistical method for identifying cost behavior is called - Answers Blank 1: regression, least-squares
regression, least squares regression, least square, or least squares
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