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# 99821 r 2 99642 using the high low method total

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99821 r 2 = .99642 Using the high- low method, total monthly fixed cost is calculated to be (rounded): Answer Selected Answer: \$716. Question 23 2 out of 2 points Which of the following means that two or more independent variables are highly correlated with each other? Answer

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Selected Answer: Multicollinearity. Question 24 2 out of 2 points When there are two or more cost drivers, regression is termed: Answer Selected Answer: Multiple. Question 25 2 out of 2 points The following costs were for Optimal View Inc., a contact lens manufacturer: At an output level of 500 lenses, per unit total cost is projected to be: Answer Selected Answer: \$50.40. Question 26
2 out of 2 points The standard error of the estimate (SE) in a regression analysis is: Answer Selected Answer: Question 27 2 out of 2 points The maintenance expenses of a company are to be analyzed for purposes of constructing a flexible budget. Examination of past records disclosed the following costs and volume measures: Highest and Lowest: Cost per month \$42,000and \$34,000; Machine hours 46,000 and 30,000. Using the high-low method, the estimated variable cost per machine hour is: Answer Selected Answer: \$0.50 Question 28

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2 out of 2 points Nellibell's Café bakes croissants that are sold to local restaurants and grocery stores in the Columbia, South Carolina area. When 600 croissants are baked, the average cost is \$0.70. When 720 croissants are baked, the average cost is \$0.65. What is the total cost when 670 croissants are baked? Answer Selected Answer: \$448. Question 29 2 out of 2 points Jackson, Inc. is preparing a budget for the coming year and requires a breakdown of the cost of electrical power used in its factory into the fixed and variable elements. The following data on the cost of power used and direct labor hours worked are available for the
last six months of this year: Assuming that Jackson uses the high-low method of analysis, the estimated variable cost of steam per direct labor hour is: Answer Selected Answer: \$4.00. Question 30 2 out of 2 points Pearson Electric Company uses the high-low method to analyze mixed costs. The following information relates to the production data for the first six months of the year.

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How should the cost function be properly stated? Answer Selected Answer: Question 31 2 out of 2 points CVP analysis using activity- based costs will tend to shift cost from fixed to variable classifications, resulting in: Answer Selected Answer: Question 32 2 out of 2 points Framing House, Inc. produces and sells picture frames. Variable costs are \$17 per frame, and fixed costs for the year
total \$130,000. The selling price is \$25 per frame. The sales units

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99821 r 2 99642 Using the high low method total monthly...

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