12372017 4:41 PM OptiPlex 7040 A fixed cost within the relevant range a. increases in total as output increases b. decreases in total as output decreases c. does not change in total as output changes d. has both a variable and a fixed composent 18. A mixed cost coetains both a fixed and variable component b. is always casy to separate c. will decrease as output increases none of the answers are correct d. Figure 3-1 Total cost Fixed cost+ (Variable Rate x Output) See Figure 3-1: In the cost formula above which element would be the dependent variable? a. variable rate b. total cost c. fixed cost d. outpu 19. See Figure 3-1: In the cost formula above which element would be the independent variable? a fixed cost b. total cost c, variable rate d. output 20. See Figure 3-1: In the cost formala above which element would be the intercept? a fixed cost b. total cost e output d. variable rate The following six months of data were collected on electricity cost and the number of machine hours in a factory. Month June August October $ 25,160 26,170 27.250 26,680 27,950 27,500 4,500 4,810 5,120 5,010 5,430 5,190 July November 22. Using the high-low method the variable rate for the electricity cost is a. $3.00 per machine hour b. $3.50 per machine hour c. $2.00 per machine hour d. $6.50 per machine hour 23. Using the high-low method the fixed cost of electricity is a. $13,500 b. $27,950 c. S11,660 d. $6.50 Build Dat Model: 24.The relevant range a. is the normal range of output where cost relationships are valid b. is above the normal range of output where cost relationships are valid c. is below the normal range of output where cost relationships are valid d. None of the above are correct 25. Which of the following is an example of direct materials cost for an automobile manufacturer? a. Cost of oil lubricants for factory machinery b. Cost of assembly worker wages c. Salary of a production supervisor d. Cost of interior upholstery 26. Training costs for administrative cmployees is classified as a Period (administrative) b. Period (selling) c. Product (direct labor) d. Product (indirect labor) Chapter 2&3 Job Order Costin 27. Cost of goods sold ess Ctri+Alt+Dele a. is the total peoduct cost for the units sold during a period b. is found on the Income Statement d. all of these Widgets R Us Company, a manufacturing firm, has supplied the following information from its accounting records fer the month of November Salary of company controller Marketing and promotion Finished Goods Inventory, Nov. 1 Finished Goods Inventory, Nov, 30 Cost of Goods Manufactured $12,000 $4,500 $2,250 $4,850 $73,925 28. The Cost of Goods Sold was a. $58,360 b. $71,325 e. $73,925 d. $85,600 29. Which of the following is not a manufacturing cost? a. Direct Materials b. Direct Labor c. Selling Expense Manufacturing Overhead All of these are manufacturing cost elements d. e. NIM Alt
