Relevant range is the activity that affects the increase or decrease of costs Select one: O True False

Q: ‘Costs maybe classified in a different type of behavioural costs such as variable and fixed costs…

A: solution : concept : variable costs               variable costs are those costs which varies along…

Q: What is meant by an activity base when dealing with variable costs? Give several examples of…

A:

Q: Distinguish between escapable and inescapable costs. Give an example of each.

A:

Q: Which costs will change with a decrease in activity within the relevant range? Unit variable cost…

A: Cost can be classified into two categories i.e fixed cost and variable cost. The fixed cost remains…

Q: The advantages of standard costing exceeds its disadvantages. True or false? Explain further

A: Standard Costing The primary purpose of implementing the cost accounting system to any organisation…

Q: The reason for some costs to be mixed in nature is? A. Presence of sunk cost in the cost structure.…

A: Fixed costs are those costs which do not change with change in level of activity like Rent Expense…

Q: TRUE OR FALSE Activities become the fundamental cost accumulation point.

A: Answer:   Activities become the fundamental cost accumulation point.   The statement is TRUE

Q: If costs are not responsive to changes in activity level, then these costs can be best described as…

A: a. Mixed:-  Mixed Cost is the combination of Fixed Cost and Variable Cost. It cannot consider as an…

Q: When output volume increases, do variable costs per unit increase, decrease, or stay the same within…

A: Variable costs: These are the costs that proportionately change with the changes in the activity…

Q: Fixed costs remain unchanged despite variations in the volume of activity within a relevant range.…

A: fixed cost will remain constant irrespective of the level of activity. variable cost will change…

Q: Programmed costs are also known as O sunk costs O differential costs O standard costs Omanaged costs

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: costs that change proportionately according to the changes in the cost driver.......

A: variable costs are the costs that change according to the changes in the cost drivers or changes…

Q: Label each of the following statements as either true (“T”) or false (“F”). Relevant costs are also…

A: Relevant costs: These costs can be defined as the costs that can be avoided if we choose over option…

Q: Opportunity costs; a. Are treated as period costs under variable costing b. Have already been…

A: Introduction:- Opportunity cost means as follows under:-

Q: In a homogeneous cost pool, all costs have a similar cause-and-effect relationship with the cost-…

A: The homogeneous cost pool is a collection of different costs whose changes are based on single base.…

Q: Define prime cost and conversion. Why can't prime cost prime cost be added to conversion cost to get…

A: Classification of costs is important to arrive at per head cost. It helps the management to take…

Q: Why is it necessary to distinguish between variable and fixed costs when dealing with mixed costs

A: Introduction:- Every Business expenses are classified as either fixed or variable costs. on other…

Q: Costs that will differ between alternatives and influence the outcome of a decision are Select one:…

A: The cost that will differ between alternatives and influence the outcome of a decision is referred…

Q: What is meant by an activity base when dealing with variable costs? Give several examples of…

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: When output volume increases, do fixed costs per unit increase, decrease, or stay the same within…

A: Fixed Costs:   These are the costs that remain constant in total dollar amount irrespective to the…

Q: A cost which changes in proportion to changes in volume of activity is called a: *       a. fixed…

A: Costs are the expenses or amounts incurred in the business for manufacturing or selling of products.…

Q: Giving examples, distinguish between Variable cost and Fixed costs

A: Introduction: Costs: Costs are of two types: 1 ) Fixed costs 2 ) variable costs

Q: A changes in direct proportion to changes in the cost-driver level * mixed costs O fixed costs O…

A: If the change in cost and change cost driver level is of direct proportion, it is not fixed cost or…

Q: Direct costs can be referred to as fixed costs. True or False?

A: Cost are divided into two parts which are, (1) Direct cost (2) Indirect cost Direct costs are the…

Q: Distinguish between ( a ) a variable cost, ( b ) a fixed cost, and ( c ) a mixed cost.

A: Variable Cost: The cost which is not fixed is called as variable cost. This cost is directly…

Q: Variable costs change directly with the level of production. Select one: True False

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: he distinction between indirect and direct costs depends on: Select one: a. whether a cost differs…

A: Direct cost means the cost which can be related with the production of specific goods directly like…

Q: Explain the difference between  - Absorption and Marginal Costing

A: The Question has covered the concept of Absorption and Marginal Costing. Absorption Costing The…

Q: simple cost analysis method to identify fixed costs and variable costs in a linear cost function is…

A: High low method is method which separates the elements of fixed cost and variable cost from the…

Q: A factor that causes or leads to a change in a cost or activity is a(n) a. slope. b. intercept. c.…

A: (a) Costs are the expenditures that are incurred in the business for manufacturing or selling of…

Q: Instructions a. Define the terms variable costs, fixed costs, and mixed costs. b. Classify each cost…

A: Answer a) VARIABLE COST:- A variable cost is an expense that rises or falls in direct proportion to…

Q: A cost which remains constant per unit at various levels of activity is a Select one: a. mixed cost.…

A: Solution: A cost which remains constant per unit at various levels of activity is a "Variable cost".…

Q: Which of the following is true about the hypothesis test of cost parameters? a) It indicates whether…

A: Hypothesis testing refers to the form of inferable statistics which allows us in making conclusions…

Q: Variable costs are costs that: Select one: a. Both (a) and (b) above. b. vary in total directly and…

A: The costs incurred in production can be classified as variable cost, fixed cost and mixed cost.

Q: Do you agree from the following statements- Explain in details with examples 1.Variable costs are…

A: IntroductionProduction cost may be defined as that type of expenses which occurs during the…

Q: Distinguish between fixed cost and variable cost.

A: Fixed Costs: These are the costs that remain constant in total dollar amount irrespective to the…

Q: What type of cost is expertise? Is it a fixed cost or a variable cost? Defend your answer.

A: SOLUTION- FIXED COST  ARE THOSE COST WHICH DO NOT CHANGE WITH A REASONABLE LEVEL OF CHANGE .…

Q: The following statements are correct excerpt? OA. Only avoidable costs are relevant for decision…

A: Relevant costs are costs which are important for decision making or these costs can effect the…

Q: What is the term used to describe costs that increase in steps? A. Variable costs B. Fixed costs…

A: Cost is referred as the essential part of the business or a company which looks after the costs such…

Q: what is the definition of fixed, variable, and mixed costs? Are variable costs or fixed costs easier…

A: Introduction: Cost accounting is a type of managerial accounting that capture a firm's production…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.