Matching
Match the term on the right with the appropriate definition provided on the right.
Premises:
Costing concept where all manufacturing-related costs , whether fixed or variable, are "absorbed" into the cost of the product.
A cost behavior that is not linear (not a straight line).
Describes how costs change as volume changes.
A method for determining cost behavior that is based on a manager's judgment in classifying each account as to its cost behavior.
A mathematical equation for a straight line that expresses how a cost behaves.
A cost behavior that is fixed over a small range of activity and then jumps to a different fixed level with moderate changes in volume.
Costs that change , but not in direct proportion to changes in volume.
A statistical procedure for determining the line that best fits the data by using all of the historical data points , not just the high and low data points.
Sales revenue minus variable expenses.
Costs that change in total in direct proportion to changes in volume.
Costs that do not change in total despite wide changes in volume.
Abnormal data points; data points that do not fall in the same general pattern as the other data points.
Responses:
Variable costs
Cost behavior
Step costs
Outliers
Absorption Costing
Contribution Margin
Curvilinear costs
Mixed costs
Cost equation
Regression analysis
Fixed costs
Account analysis
Correct Answer:
Premises:
Responses:
Costing concept where all manufacturing-related costs , whether fixed or variable, are "absorbed" into the cost of the product.
A cost behavior that is not linear (not a straight line).
Describes how costs change as volume changes.
A method for determining cost behavior that is based on a manager's judgment in classifying each account as to its cost behavior.
A mathematical equation for a straight line that expresses how a cost behaves.
A cost behavior that is fixed over a small range of activity and then jumps to a different fixed level with moderate changes in volume.
Costs that change , but not in direct proportion to changes in volume.
A statistical procedure for determining the line that best fits the data by using all of the historical data points , not just the high and low data points.
Sales revenue minus variable expenses.
Costs that change in total in direct proportion to changes in volume.
Costs that do not change in total despite wide changes in volume.
Abnormal data points; data points that do not fall in the same general pattern as the other data points.
Premises:
Costing concept where all manufacturing-related costs , whether fixed or variable, are "absorbed" into the cost of the product.
A cost behavior that is not linear (not a straight line).
Describes how costs change as volume changes.
A method for determining cost behavior that is based on a manager's judgment in classifying each account as to its cost behavior.
A mathematical equation for a straight line that expresses how a cost behaves.
A cost behavior that is fixed over a small range of activity and then jumps to a different fixed level with moderate changes in volume.
Costs that change , but not in direct proportion to changes in volume.
A statistical procedure for determining the line that best fits the data by using all of the historical data points , not just the high and low data points.
Sales revenue minus variable expenses.
Costs that change in total in direct proportion to changes in volume.
Costs that do not change in total despite wide changes in volume.
Abnormal data points; data points that do not fall in the same general pattern as the other data points.
Responses:
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