Cost behavior and Cost estimation MCQs

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1. Which of the following is true about variable costs?

 
 
 
 

2. Variable costs with a linear relationship to changes in activity are referred to as:

 
 
 
 

3. Which of the following statements is true about fixed costs within the relevant range?

 
 
 
 

4. Which of the following is a good example of the equation or cost function, that represents variable and fixed cost relationships?

 
 
 
 

5. Which of the following is true about the high-low method?

 
 
 
 

6. Assuming a linear cost relationship, if fixed costs are $1,200 and variable costs are $5 per unit, what would total costs be for 600 units?

 
 
 
 

7. Which of the following is described as the process of determining how a particular cost behaves?

 
 
 
 

8. Which describes the flow of the relationship between cost behavior, cost prediction and cost estimation?

 
 
 
 
 

Next MCQs Quiz: Inventory Management

 

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