Only MQA question answer needed, no requirement for explanation, tq
The data points with the _ _ should be selected for use in * 1 point calculating the variable cost per unit and the total fixed costs when using the high-low method highest cost and the lowest coat highest volume and the lowest volume highest volume and the lowest cost O highest cost and the lowest volume which of the following statements about management accounting * 1 point information is/are true? () They must be stated in purely monetary terms. (ji) Limited companies must, by law, prepare management accounts. (iii) They serve as a future planning tool and are not used as an historical record. O () () and (u) O () and (11) O (in) only None of the statements is true Budget committees include all of the following people except * 1 point O CEO. O Research and development manager. Shareholder Marketing manager. In August actual material used amounted to 5,650 kg, budgeted output was 1 point 1,000 units and standard material usage was 5 kg per unit. Actual output was 1,075 units. If the standard material cost of each product is $25 the material usage variance will be O E3,250 favourable O E1,375 adverse O E1,375 favourable $3,250 adverse Dairy Days Ice Cream sells ice cream cones for $4 per customer. Variable * 1 point costs are $3 per cone. Fixed costs are $2,500 per month. What is Dairy Days' contribution margin ratio? O 267% O 25% O 2% Which of the following statements about qualities of good information is * 1 point false It should be timely O It should be relevant for its purposes It should be completely accurate O It should be communicated to the right person Which of the following statements is true regarding managerial accounting * 1 point Information? O Managerial accounting information is audited by CPAs. Managerial acco n emphasizes relevance. Managerial accounting information is prepared annually and quarterly. O Managerial accounting information must be prepared in conformity with Generally Accepted Accounting Principles (GAAP). An adverse labour efficiency variance together with a favourable labour rate 1 point variance may mean that_ less skilled staff are being used in production O the business is paying a higher hourly rate than the standard O less labour hours are needed to make the same amount of output more products are being made per hour With respect to total fixed costs, which of the following statements is true? * 1 point They will remain the same as pr duction levels change within the relevant range They will increase as product in decreases within the relevant range. They will decrease as production increases within the relevant range. They will decrease as production decreases within the relevant range. A(n) - cost is a cost whose total amount changes in direct * 1 point proportion to a change in volume. O variable fixed O mixed O Irrelevant
