Distinguish between (a) cost behavior and (b)  a mixed cost, and (c) a step-variable cost. Plot the three costs on a graph, with activity plotted horizontally  and cost plotted vertically.

Q: a) Define fixed, variable and semi-variable costs and give an example of each.

A: Since you have posted multiple questions we will do the first one for you. To get the remaining…

Q: Cost estimation is the process of   a. Summarizing pwst costs into fixed variable components.…

A: Solution: Cost estimation is the process of "Estimating the relationship between costs and the costs…

Q: On a graph, the Total Variable costs line appears to be horizontal in nature. True False

A: Cost: In accounting, the cost is related to monetary value spend on raw material, services, and…

Q: Requirements a. What is the slope coefficient? b. What is the constant for the estimated cost…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: On a CVP graph, the intersection of the sales revenue line and the total cost line is known as the:…

A: The Break-even point indicates that total units are to be sold by the business entity to recover its…

Q: Select the correct statement concerning the cost-volume-profit graph at right: a. The point…

A: BEP: (Break-even point) It is the number of units that are sold that could result in a situation of…

Q: The intercept (straight line) on a graph of the linear cost function represents ....... cost

A: The cost function depicts the costs that will be incurred at various levels of activity Cost…

Q: Which of the following best describes a fixed cost? a. Cost representing a fixed proportion of…

A: Fixed Cost: It is a cost that does not change with the change in the level of output. It is the…

Q: Lancelot Group of Companies would like to estimate its cost function for proper cost management…

A: cost function is a function that uses the formula in order to predict the cost that will be…

Q: A total cost equation can be used to predict future costs for various activity levels. Write the…

A: Concept The total cost is the sum of variable cost and fixed cost incurred For example if variable…

Q: Select the correct statement concerning the cost-volume-profit graph at right:   At point B, profits…

A: In order to determine the Breakeven point (units), the total fixed cost is required to be divided by…

Q: A number of graphs displaying cost behavior patterns are shown below. The vertical axis on each…

A: A. Electricity bill graph is 6 as in this graph, the cost is constant for some specified volume and…

Q: In the mixed cost function Y = A + BX, total variable costs is represented by: a. A + BX b. A c. Y…

A: In the mixed cost function Y = A + BX, Y = Total Cost A = Fixed Cost B = Variable Cost per unit X =…

Q: From the following data find (A) material cost, (B) price cost, (C) direct cost,

A: "Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: Which of the following statements related to cost estimation methods is true ? a . Only high -low…

A: When the total cost for the expenses change or does not change with the change in the output, it…

Q: On a CVP graph, the total cost line intersects the vertical (dollars) axis at the origin. the level…

A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…

Q: Using the high-low method, determine the cost function for each cost?

A: High low method of cost estimation says that costs at highest level and lowest level are to be taken…

Q: On a CVP graph, the total cost line intersects the vertical (dollars) axis at a. the origin. b. the…

A: Definition:   Cost-volume profit analysis: CVP analysis is a tool of cost accounting that measures…

Q: In a homogeneous cost pool, all costs have a similar cause-and-effect relationship with the cost-…

A: The homogeneous cost pool is a collection of different costs whose changes are based on single base.…

Q: The gross-margin format is used for A. mixed costing income statement B. absorption costing income…

A: Gross  Margin In simple term gross margin is deduct the amount from the total revenue to cost of…

Q: Which of the following are assumptions associated with the cost equation? Check all that apply. The…

A: Cost equation means a line or formula which shows both types of cost like fixed costs and variable…

Q: The graph of a variable cost when plotted against its related activity base appears as a a.circle…

A: Variable cost is a cost that increases with the increase in the level of production of a commodity.…

Q: Describe variable costs and fixed costs and give an example of each.

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: When using the visual-fit method to estimate a cost function, we can estimate the fixed cost by O…

A: Visual Fit Method  It is the most common method used by analysts for examining the cost by the way…

Q: On a CVP graph, the intersection of the sales revenue line and the total cost line is known as the:…

A: CVP stands for Cost-Volume-Profit analysis. It is helpful in determining the change in the total…

Q: Which of the following statements related to CVP chart is not true? O a. To calculate the total…

A: Cost-Volume-Profit (CVP) Analysis: It is a method followed to analyze the relationship between the…

Q: Explain variable costs, fi:xed costs, average variablecosts, average fixed costs, and average total…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: Distinguish the effect of First in first out (FIFO), Last in last out (LIFO) and average cost on…

A: There are three method of Inventory valuation  First in first out ( FIFO ) Last in first out ( LIFO…

Q: Compute for the cost of WIP, end using Average costing.

A: Average costing: Weighted-average costing used to value the cost of finished goods and ending work…

Q: Find the cost formula using the Scattergraph method

A: Scatter plot: It is a type of plot or mathematical diagram using Cartesian coordinates to display…

Q: Describe three alternative linear cost functions.

A: Cost Function: Cost function represents the basic change comes in the total cost due to the change…

Q: Which of the following is the format of the income statement that is MOST useful in decision-making?…

A: The contribution margin format of income statement classify the costs into fixed and variable. The…

Q: Can you label revenue, loss, total costs, dollars, variable cost, and fixed cost on the provided…

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining how any type of…

Q: Produce a table of A-Design's different costs and classify them.

A: Cost classification is the classification which are made by the company so that in can be better…

Q: difference between absorption costing and variable costing

A: [Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: Distinguish between ( a ) a variable cost, ( b ) a mixed cost, and ( c ) a step-variable cost. Plot…

A: Total  cost Total cost refers to the cost which allows the business owners to trace the combined…

Q: Instructions a. Define the terms variable costs, fixed costs, and mixed costs. b. Classify each cost…

A: Answer a) VARIABLE COST:- A variable cost is an expense that rises or falls in direct proportion to…

Q: Total cost is a combination of fixed and variable costs. The algebraic equation, where T =…

A: Provide the algebraic equation for total cost.

Q: On a graph, if a horizontal axis represents units of production and the vertical axis represents…

A: Solution: Total variable cost is dependent on nos of units produced and same will increase in same…

Q: Using the above information derive a cost function that can be used to predict the total production…

A: High-low cost estimation method is used to segregate the fixed cost and variable cost element in…

Q: Which of the following statements related to cost estimation methods is true? O a. The most complex…

A: Option c is correct.

Q: Give examples of three different levels of costs in a customer-cost hierarchy.

A: Customer Cost Hierarchy: Customer cost hierarchy is a method that helps in the categorization of…

Q: Using graphs, show how a semivariable (or mixed) cost behavior pattern can be used to approximate…

A:

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.