In representing the total manufacturing costs in the equation Y=a+bX, “a ” in the equation represents the amount of total fixed costs while the “bX” represents the amount of Level of activity Total manufacturing costs Total variable manufacturing costs Variable cost per unit Group of answer choices

In representing the total manufacturing costs in the equation Y=a+bX, “a ” in the equation represents the amount of total fixed costs while the “bX” represents the amount of Level of activity Total manufacturing costs Total variable manufacturing costs Variable cost per unit Group of answer choices

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 17MC: In the cost equation Y=a+bx, Y represents which of the following? A. fixed costs B. variable costs...

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In representing the total manufacturing costs in the equation Y=a+bX, “a ”in the equation represents the amount of total fixed costs while the “bX”represents the amount of 1. Level of activity2. Total manufacturing costs3. Total variable manufacturing costs4. Variable cost per unit what is the best answer?
In representing the total manufacturing costs in the equation Y=a+bX, “a ”in the equation represents the amount of total fixed costs while the “bX”represents the amount of 1. Level of activity2. Total manufacturing costs3. Total variable manufacturing costs4. Variable cost per unit
Which of the following statements is true regarding the formula Y = a + bx? Multiple Choice Y = The estimated total fixed manufacturing overhead cost. Y = The estimated total amount of the allocation base. Y = The estimated total manufacturing overhead cost. Y = The actual total amount of the allocation base.
How would the equation for total costs be written using the following? y = total costs v = variable cost per unit of activity x = volume of activity f = total fixed costs Question 3 options: y = xv y = xv + f y = xf y = f
In the formula Y = a + bX, b represents the estimated Blank______. Multiple choice question. total fixed manufacturing overhead cost total manufacturing overhead cost total amount of the allocation base variable manufacturing overhead cost per unit
In the formula Y = a + bX, X represents the estimated Blank______. Multiple choice question. total amount of the allocation base total fixed manufacturing overhead cost total manufacturing overhead cost variable manufacturing cost per unit
The equation for total costs (Y) is: Y = a+ bX In this equation, “a” represents: Net income Cost of goods sold Total fixed costs The level of activity (e.g., the number of units produced) Total variable costs Variable cost per unit of X Total revenue
On a graph, if a horizontal axis represents units of production and the vertical axis represents total costs, the total variable costs line would be shown as a(n): Question 4 options: horizontal line. vertical line. upward sloping line. downward sloping line.
Which of the following best describes a fixed cost? a.Cost representing a fixed proportion of total costs b.Cost directly related to output c.Cost that remains at the same level up to a particular level of output . d.Cost that remains at the same level when output increases.
The marginal cost is: Select one: O a. Is the incremental cost of an activity, such as producing a unit of goods or services O b. Is the cost that causes change in total cost for a cost object O c Is the span of activity levels for which the cost behaviour patterns hold O d. Is the input or activity that causes change in total cost for a cost object
Which of the following are assumptions associated with the cost equation? Check all that apply. The cost equation is used to estimate costs at a variety of volume levels Cost estimates are valid within a discrete range of volumes Per unit variable costs represent the slope of a cost equation Cost equations are linear
a) Complete the following table: [Calculate Marginal Physical Product, Average Fixed Costs, Average Variable cost, Average Total Cost and Marginal cost. Make sure you put the formulas on the question or your answer sheet]. Quantity Marginal Total Average Potal of Output Physical (Units) Fixed Variable Average Total Average Marginal Input Input, Fixed Fixed Variable Variable Costs Total Cost Cost (Capital Labour Units) (workers) Product Costs Costs costs Costs Formula: Formula: Formula Formula Formula Formula Formula 1 10 100 50 2 28 100 100 3 47 100 150 4 67 100 200 1 86 100 250 1 Add file b) If input prices increases, which curve shift and in which direction? 1. 1.