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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TutorJosh. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
