ACCT 3203

Using the variable costing method, which of the following costs are assigned to inventory?

course hero

The breakeven point in units increases when unit costs:

increase and sales price remains unchanged.

Using these data and the high-low method to develop a cost estimating equation, the estimate of needed manufacturing supplies for July would be:

look up

The difference between fixed cost and variable cost is:

variable costs per unit are fixed over the relevant range and fixed costs per unit are variable

Classifying a cost as either direct or indirect depends upon:

whether the cost can be easily traced with the cost object

Equivalent units of production is computed using which of the following formulas?

Equivalent units = Number of partially completed units x Percentage completion

Which one of the following alternatives correctly classifies the business application to the appropriate costing system?

Print shop / Beverage drink manufacturer

What is the contribution margin per unit?

Selling price per unit minus variable costs per unit, or revenues per unit minus expenses per unit.

Which one of the following is correct regarding relevant range?

The total fixed costs will not change

The cost of goods sold per unit would be:

Total cost / total units

Once the breakeven point has been reached, operating income will increase by the:

Unit contribution margin