Firms may choose to use absorption costing or variable costing for external financial reporting purposes.Variable costing does not meet the external reporting requirements of GAAP.
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Q1: A mixed cost has either fixed and
Q3: R-square tells managers how much of the
Q4: Contribution margin is equal to sales revenue
Q5: The least-squares regression method uses all of
Q6: The unit contribution margin tells how much
Q7: The equation for a mixed cost is
Q8: A scattergraph is useful in recognizing unusual
Q9: The relevant range is the range in
Q10: A scattergraph cannot be created by hand
Q11: A variable cost increases in total as
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