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Atrills Accounting for Business Students 1st Australian Edition Atrill McLaney – Test Bank

Original price was: $35.00.Current price is: $24.97.

Original price was: $35.00.Current price is: $24.97.

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Assessment Questions for Atrills Accounting for Business Scholars 1st Australian Edition Atrill McLaney

ISBN-10 ‏ : ‎ 1488616574, ISBN-13 ‏ : ‎ 978-1488616570

Chapter 11
Value-sum-profit analysis
and linked costing

Select the one different that most accurately completes the statement or answers the question.
1) How can fixed costs be best described?
A) As unchangeable concerning shifts in activity over the relevant range of output
B) As permanent forever
C) As fixed for 6 months
D) As fixed for a specific quantity of products
Answer: A
Scenario: Principal
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

2) Which of the following could be considered a set cost?
A) Cost of fuel for a transportation company
B) Laundry expenses to clean towels used by a hair stylist
C) Insurance premium
D) Supplies used in production
Answer: C
Scenario: Principal
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 8 Application of knowledge

3) How are fixed costs depicted graphically?
A) A horizontal line, remaining constant regardless of the level of activity
B) Starting at zero and increasing as a straight line as activity rises
C) Starting at a given point and increasing as a straight line as activity rises
D) The intersection of total costs and total revenue lines
Answer: A
Scenario: General
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

4) Semi-fixed costs are best defined as:
A) having both fixed and variable components.
B) fluctuating over time.
C) costs disregarded in cost-sum-profit analysis.
D) None of the above
Answer: A
Scenario: Principal
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

5) An example of a variable cost is:
A) manager’s salary.
B) local government charges.
C) rent.
D) cost of raw materials.
Answer: D
Scenario: Principal
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 8 Application of knowledge

6) Variable costs are best described as:
A) fluctuating from period to period.
B) fluctuating directly in proportion to the number of employees.
C) fluctuating directly in proportion to the level of activity.
D) fluctuating over time.
Answer: C
Scenario: Principal
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

7) As production increases, variable costs per unit are:
A) semi-fixed.
B) fixed.
C) variable.
D) proportional to total costs.
Answer: B
Scenario: General
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

8) Variable costs are depicted graphically as:
A) starting at zero and increasing as a straight line as activity rises.
B) starting at a given point and increasing as a straight line as activity rises.
C) a horizontal line, remaining constant regardless of the level of activity.
D) the intersection of total costs and total revenue lines.
Answer: A
Scenario: General
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

9) Which of the following is an example of a semi-fixed (semi-variable) cost?
A) Cost of phone calls.
B) Entire phone bill, both calls and rental.
C) Cost of phone rental.
D) None of the above
Answer: B
Scenario: General
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

10) If total costs are $30,000 at an output of 3,000 units and $35,000 at an output of 3,500 units, variable costs per unit are:
A) $15 per unit.
B) $20 per unit.
C) $10 per unit.
D) $12 per unit.
Answer: C
Scenario: General
Objective: 11.1 Differentiate between fixed costs and variable costs, and explain the significance of a detailed grasp of cost behavior.
Topic: Cost behavior
AACSB: 3 Analytical thinking

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Atrills Accounting for Business Students 1st Australian Edition Atrill McLaney – Test Bank
Atrills Accounting for Business Students 1st Australian Edition Atrill McLaney – Test Bank

Original price was: $35.00.Current price is: $24.97.

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