12. Any cost the total of which changes directly and proportionally to changes in volume of production is called a A. Fixed cost B. Variable cost C. Activity cost D. Product cost E. None of the above 13. The cost estimation method that is most accurate and most used is the A. Least Squares method B. High/Low (or two-point) method C. Semi-averages method D. Visual fit (or graphical) method E. None of the above 14. Deliberately incurring an unfavorable variance with the expectation that it will be more than offset by a simultaneous favorable variance is called a A. Mistake B. Variance cascade effect C. Qualitative assessment D. Variance trade-off E. None of the above 15. The only thing one knows for certain about an estimate is that it is A. Close B. Valid C. Reliable D. Wrong E. None of the above