# Cost Accounting Quiz 1 Review- Multiple Choice.docx - 1...

• No School
• AA 1
• 3

This preview shows page 1 - 2 out of 3 pages.

1.McGuinness Company employs 8 individuals. They are all paid \$14.50 per hour. How would total costs of personnel beclassified? a.mixed b.variable c.a variable cost within a relevant range d.a fixed cost within a relevant range 2. A linear cost function can only represent fixed cost behavior. a. True b. False 3.The conference method estimates cost functions: 4.When using the high-low method, the two observations used are the high and low observations of the: 5.Answer the following questions using the information below: The Delmonico Company uses the high-low method to estimate the cost function. The information for 2011 is provided below:Machine-hours Labor CostsHighest observation ofcost driver 400 \$20,000 Lowest observation of cost driver 240 \$13,600 What is the constant for the estimating cost equation? 6.Goodness-of-fit measures how well the predicted values in a cost estimating equation: a.match the cost driver b.match the actual cost observations c.rely on the independent variable d.determine the level of activity 7.Examples of nonlinear cost functions include all of the following EXCEPT:

Subscribe to view the full document.

• Fall '19
• total costs of personnel

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes