the operating incomes from absorption costing and variable costing are the same when A. Units produced = Units sold B. Units produced < Units sold C. Units produced > Units sold D. None of the above
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- In the cost equation Y=a+bx, Y represents which of the following? A. fixed costs B. variable costs C. total costs D. units of productionWhat is the difference between the unit costs are determined under the weighted average cost method and the first-in, first-out (FIFO) cost method?In describing the cost formula equation Y = a + bX, which of the following statements is NOT correct? (A As "X" increases "Y" increases. (B) "X" is the level of activity. In the high-low method, "b" equals change in activity divided by change in costs. "a" is the fixed component.
- Operating income computed using the direct costing would generally exceed operating income computed using the absorption costing if: A. Units sold are less than units produced B. The unit fixed cost is zero C. Units sold exceed units produced D. Units sold equal units produceWhich of the following statements related to CVP chart is not true? O a. To determine the variable cost per unit from a graph, the change in cost is divided by the change in units. O b. The scatter graph method is a way to estimate the cost behavior by graphically connecting the two cost amounts identified with the highest and lowest volume levels. O c. The slope of the total cost line determines the variable cost per unit. O d. To calculate the total fixed cost from a graph is by multiplying a level of volume by the variable cost per unit found out earlier and subtracting that from the total cost for that level of volume. e. The intercept between the total cost line on a graph and the y-axis determines the fixed cost. f. None of the given answers.TRUE OR FALSE When units sold exceed, units produced, income under absorption costing is higher than income under variable costing.
- 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 revenueWhich of the following statements about CVP analysis is true? O a. Operating income calculations in CVP analysis are based on groSs margin. O b. The CVP analysis assumes that total variable costs remain the same over a relevant range. O c. The CVP analysis assumes that variable costs per unit remain the same over a relevant range. O d. Unit selling price, unit variable costs, and unit fixed costs are known and remain constant. O e. All of the given answers are false.The variable cost ratio is calculated as: a. The selling price per unit ratio / variable cost per unit ratio b. The selling price per unit / variable cost per unit C. None of the given answers d. Variable manufacturing cost ratio + variale selling and administrative cost ratio e. Selling price per unit – the variable cost per unit
- In describing the cost formula equation, Y = a +bX, which of the following is correct: Multiple Choice O O O "Y" is the independent variable. "a" is the variable cost per unit. "a" and "b" are valid for all levels of activity. in the high-low method, "b" equals the change in cost divided by the change in activity.Break-even is the number of units at which? a. total revenue equals price times quantity b. total revenue equals total variable cost c. total revenue equals total fixed cost d. total revenue equals total costHow is operating income affected if the number of units sold exceeds the number of units produced? Select one: a. Operating income would be higher under a variable costing income statement. b. Operating income would be lower under a variable costing income statement. c. Operating income would be higher under an absorption costing income statement. d. Operating income would be the same under both a variable costing and absorption costing income PreviousSave AnswersNext
