Questions from Managerial Accounting

Q: Determine whether each the following statements describes variable costing (VC),

Determine whether each the following statements describes variable costing (VC), full absorption costing (FA), or both (B): 1. Measures gross margin as the difference between sales revenue and cost of...

Q: Match each of the following costs with its appropriate definition:

Match each of the following costs with its appropriate definition: 1. Fixed cost per unit 2. Fixed costs in total 3. Variable cost per unit 4. Variable costs in total 5. Step costs A. Vary directly an...

Q: Complete each of the following sentences with the appropriate term from the

Complete each of the following sentences with the appropriate term from the list below: 1. The horizontal (x) axis on a scattergraph plots _______. 2. On a scattergraph, the steeper the slope of the l...

Q: Indicate whether each of the following statements about the high-low

Indicate whether each of the following statements about the high-low method is true or false: a. The formula for the high-low method is (Highest Cost − Lowest Cost) / (Highest Activity − Lowest Activi...

Q: Match each of the following terms associated with the least-squares

Match each of the following terms associated with the least-squares regression method with its appropriate definition: 1. R square 2. Error 3. Intercept 4. Coefficient of the x variable A. Estimate of...

Q: Castle Inc. has the following information: / Indicate

Castle Inc. has the following information: Indicate whether these costs are variable, fixed, or mixed. Explain your answers.

Q: Randy Company produces tennis rackets. If the fixed cost per racket

Randy Company produces tennis rackets. If the fixed cost per racket is $15 when 20,000 rackets are produced, what is the fixed cost per racket when 30,000 rackets are produced?

Q: Sherri’s Tan-O-Rama is a local tanning salon.

Sherri’s Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for the first half of the year: Prepare a scattergraph by...

Q: Match each of the terms by inserting the appropriate definition letter in

Match each of the terms by inserting the appropriate definition letter in the space provided. Not all definitions will be used. 1. Break-even point 2. Break-even analysis 3. Cost-volume-profit analysi...

Q: Jasper Company has sales of $185,000 and a break

Jasper Company has sales of $185,000 and a break-even sales point of $120,000. Compute Jasper’s margin of safety and its margin of safety ratio.