Homework Answers
Correct answer is option C. Account analysis
Account analysis is a cost estimation method that calls for a review of each account making up the total cost being analyzed.In other word Cost estimation approach in which the cost accounts in the ledger are classified as variable, fixed, or mixed is called Account analysis method.,So answer is option C.
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A method that calls for a review of each account making up the total cost is...
TB MC Qu.5-45 (Static) The cost estimating approach that involves "eye... 7 The cost estimating approach...
TB MC Qu.5-45 (Static) The cost estimating approach that involves "eye... 7 The cost estimating approach that involves "eye-balling the closest fitting line to the data is the 15 points Multiple Choice cBook scattergraph method. References high-low method. visual fit method. regression analysis
Question 15 2 pts Which of the following approaches for estimating fixed and variable costs using...
Question 15 2 pts Which of the following approaches for estimating fixed and variable costs using historical information fits a straight line to a set of data points? Scattergraph method and regression analysis Scattergraph method and account analysis High-low method and account analysis Scattergraph method and high-low method None of the answer choices is correct. Question 16 2 pts All of the following are steps of the high-low method except: stating the results in equation form Y=f+ vX. calculating the...
. Which of the following is NOT a technique used to estimate cost behavior (i.e., fixed...
. Which of the following is NOT a technique used to estimate cost behavior (i.e., fixed and variable cost)? Account classification Visual inspection of scatterplot graph Linear regression analysis High-Low method All of the above are methods of estimating cost behavior None of the above are methods of estimating cost behavior
The assistant is unsure how to classify the utilities costs in the radiology department, since these...
The assistant is unsure how to classify the utilities costs in the radiology department, since these costs do not exhibit either strictly variable or strictly fixed cost behaviour. Utilities costs are very high in the department due to a CT scanner that draws a large amount of power and is kept running at all times. The scanner cannot be turned off due to the long warm-up period required for its use. When the scanner is used to scan a patient,...
please answer all the questions below the problem thank u The assistant is unsure how to...
please answer all the questions below the problem
thank u
The assistant is unsure how to classify the utilities costs in the radiology department, since these costs do not exhibit either strictly variable or strictly fixed cost behaviour. Utilities costs are very high in the department due to a CT scanner that draws a large amount of power and is kept running at all times. The scanner cannot be turned off due to the long warm-up period required for its...
Below is data for eVolvalution, Inc. for volumes of units manufactured and sold and related total...
Below is data for eVolvalution, Inc. for volumes of units manufactured and sold and related total costs for five recent periods. August 860 units $41,340 total costs September 830 units $41,800 total costs October 910 units $43,510 total costs November 920 units $43,100 total costs December 990 units $47.450 total costs Based on this data, estimate the company's (i) variable costs (VCs) per unit and (ii) fixed costs, under each of the following approaches: (a) High-Low Method (b) Scattergraph Method...
A 1. For purposes of budgeting in the short run, the variable cost function is 'assumed...
A 1. For purposes of budgeting in the short run, the variable cost function is 'assumed to be linear. This assumption is called: the relevant range' assumption b. the 'linear budgeting' assumption c. the 'variable costing' assumption 2. Which of the following components of factory overhead would most likely be considered a variable cost: straight-line depreciation on factory equipment indirect labor wages paid to the factory maintenance crew c. Indirect materials used in production the cost of factory rent 3....
A manager is trying to estimate the manufacturing costs of a new product. The company makes...
A manager is trying to estimate the manufacturing costs of a new product. The company makes several other products that utilize some of the same manufacturing procedures as the new product. Which cost estimation method would be the best method to determine the total cost of manufacturing the new product? A- Engineering estimates. B- Regression analysis. C- Account analysis. D- Scattergraph.
Problem 5-52 High-Low Method, Scattergraph (LO 5-4) Cubicle Solutions sells productivity software such as word processors,...
Problem 5-52 High-Low Method, Scattergraph (LO 5-4) Cubicle Solutions sells productivity software such as word processors, spreadsheets, and personal information managers. Cubicle prides itself on customer support and maintains a large call center where customers can call in with technical questions about the installation and use of Cubicle products. Monthly data on the number of support calls and call center costs for the last year have been collected and are shown below (all activities and costs are in thousands): Month...
please answer A - E! Thank you! 2-20 Scattergraph; high-low method; cost estimation (LO 2) The...
please answer A - E! Thank you!
2-20 Scattergraph; high-low method; cost estimation (LO 2) The Aust Corporation has gathered the following data on its copy machine costs for the first eight months of the year. Month Number of Copies Total Copy Cost January 40,000 $3,500 February 35,000 $3,200 March 60,000 $4,100 April 80,000 $5,100 May 85,000 $5,600 June 75,000 $4,800 July 82,000 $5,300 August 105,000 $6,000 Required a. Prepare a scattergraph of the cost information and then choose a...
TB MC Qu.5-45 (Static) The cost estimating approach that involves "eye... 7 The cost estimating approach that involves "eye-balling the closest fitting line to the data is the 15 points Multiple Choice cBook scattergraph method. References high-low method. visual fit method. regression analysis
Question 15 2 pts Which of the following approaches for estimating fixed and variable costs using historical information fits a straight line to a set of data points? Scattergraph method and regression analysis Scattergraph method and account analysis High-low method and account analysis Scattergraph method and high-low method None of the answer choices is correct. Question 16 2 pts All of the following are steps of the high-low method except: stating the results in equation form Y=f+ vX. calculating the...
The assistant is unsure how to classify the utilities costs in the radiology department, since these costs do not exhibit either strictly variable or strictly fixed cost behaviour. Utilities costs are very high in the department due to a CT scanner that draws a large amount of power and is kept running at all times. The scanner cannot be turned off due to the long warm-up period required for its use. When the scanner is used to scan a patient,...
please answer all the questions below the problem
thank u
The assistant is unsure how to classify the utilities costs in the radiology department, since these costs do not exhibit either strictly variable or strictly fixed cost behaviour. Utilities costs are very high in the department due to a CT scanner that draws a large amount of power and is kept running at all times. The scanner cannot be turned off due to the long warm-up period required for its...
Below is data for eVolvalution, Inc. for volumes of units manufactured and sold and related total costs for five recent periods. August 860 units $41,340 total costs September 830 units $41,800 total costs October 910 units $43,510 total costs November 920 units $43,100 total costs December 990 units $47.450 total costs Based on this data, estimate the company's (i) variable costs (VCs) per unit and (ii) fixed costs, under each of the following approaches: (a) High-Low Method (b) Scattergraph Method...
A 1. For purposes of budgeting in the short run, the variable cost function is 'assumed to be linear. This assumption is called: the relevant range' assumption b. the 'linear budgeting' assumption c. the 'variable costing' assumption 2. Which of the following components of factory overhead would most likely be considered a variable cost: straight-line depreciation on factory equipment indirect labor wages paid to the factory maintenance crew c. Indirect materials used in production the cost of factory rent 3....
Problem 5-52 High-Low Method, Scattergraph (LO 5-4) Cubicle Solutions sells productivity software such as word processors, spreadsheets, and personal information managers. Cubicle prides itself on customer support and maintains a large call center where customers can call in with technical questions about the installation and use of Cubicle products. Monthly data on the number of support calls and call center costs for the last year have been collected and are shown below (all activities and costs are in thousands): Month...
please answer A - E! Thank you!
2-20 Scattergraph; high-low method; cost estimation (LO 2) The Aust Corporation has gathered the following data on its copy machine costs for the first eight months of the year. Month Number of Copies Total Copy Cost January 40,000 $3,500 February 35,000 $3,200 March 60,000 $4,100 April 80,000 $5,100 May 85,000 $5,600 June 75,000 $4,800 July 82,000 $5,300 August 105,000 $6,000 Required a. Prepare a scattergraph of the cost information and then choose a...
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