Ans NA LO 1 Bloom K Difficulty Easy Min 1 AACSB None AICPA BB IndustrySector

Ans na lo 1 bloom k difficulty easy min 1 aacsb none

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Ans: N/A, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: None, AICPA PC: None, IMA: Business Economics 195. A _________________ cost remains constant per unit at every level of activity. Ans: N/A, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 196. Unit fixed costs __________________ with the changes in the level of activity. Ans: N/A, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 197. Total fixed costs are ___________ over various levels of activities, whereas total variable costs __________________ directly and ________________ with changes in the activity level. Ans: N/A, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 198. An assumption of CVP analysis is that variable and fixed costs have a _______________ relationship with an activity base. Ans: N/A, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 199. The range over which a company expects to operate is referred to as the _____________ range. Ans: N/A, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 200. A cost that has both variable and fixed elements is referred to as a _________________ cost. Ans: N/A, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 201. The amount of revenue remaining after deducting total variable costs is called the _________________________. Ans: N/A, LO: 5, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting 202. The _______________ point is when total revenues equal total costs. Ans: N/A, LO: 6, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 203. _________________ divided by the contribution margin ratio will give the amount of _________________ to break even. Ans: N/A, LO: 6, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics 204. The difference between actual or expected sales and break-even sales is called the __________________________. Ans: N/A, LO: 8, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics FOR INSTRUCTOR USE ONLY 18 - 58
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Cost-Volume-Profit Answers to Completion Statements 194. cost-volume-profit (CVP) 200. mixed 195. variable 201. contribution margin 196. vary inversely 202. break-even 197. constant, vary, proportionately 203. Fixed costs, sales (in dollars) 198. linear 204. margin of safety 199. relevant MATCHING 205. Match the items in the two columns below by entering the appropriate code letter in the space provided.
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