1) A cost function is a A) process of caleulating present value of projected cash flows B) process of allocating costs to cost centers or cost objects C) mathematical description of how a cost changes with changes in the level of an activity relating to that cost D) is a very thorough and detailed way to identifying a cost objecet when there is a physical relationship between inputs and outputs 2) Bennet Company employs 20 individuals. Eighteen employees are paid S18 per hour and the rest are salaried employees paid $3,000 a month. Which of the following is the total cost function of personnel? 3) The cost components of a heater include $35 for the compressor, S11 for the sheet molded compound frame, and $74 per unit for assembly. The factory machines and tools cost is $55,000. The company expects to produce 1,300 heaters in the coming year. What cost function best represents these costs? A) y-55,000+120X B)y- 1,300+55,000X C)y 55,000+1,300x D)y 1,300+120X 4) The cost function y -2,700+8X A) has a slope coefficient of 2,700 B) has an intercept of 8 C) is a straight line D) represents a fixed cost 5) Quantitative analysis methods estimate cost functions_ A) using the time-and-motion studies B) based on analysis and opinions gathered from various departments C) using a formal mathematical method to fit cost functions to past data observations D) using the pooling of knowledge from each value chain function 6) What is the name of a cost of production process that yields multiple products simultaneously? A) byproduct B) joint C) main D) separable