Question
7. As production volume increases, a variable cost a. Increases on a per-unit basis b. Remains...
7. As production volume increases, a variable cost a. Increases on a per-unit basis b. Remains constant on a per-unit basis c. Remains constant in total d. Decreases in total e. None of the above 8. The predetermined overhead rate is developed from a. Forecast cost and forecast activity b. Forecast cost and actual activity c. Actual cost and forecast activity d. Actual cost and actual activity e. None of the above 9. Which of the following would not be a product cost for an automobile manufacturing firm? a. Sales commissions b. Steel c. Depreciation on factory equipment d. Salary for the production line supervisor e. All of the above are product costs 10. Which of the following is generally the most accurate cost estimation method? a Visual fit b. High-low c. Semi-averages d. Least-squares e. None of the above
Answers
Solution 7) b. Remains constant on a per unit basis
Reason : Variable cost is fixed per unit , in total it increases or decreases as it gets multiplied by the number of units.
Solution 8) a. Forecast cost and forecast activity
Reason : Predetermined overhead are based on estimation, these estimations are based upon forecasted costs and activity
Solution 9) c. Depreciation on a factory equipment
Reason : Depreciation on factory equipment is not dependant on product, moreover Deprereciation expenses are periodic costs
Solution 10) d. Least Sqaures
Reason : It is based upon calculation which predict a line on graph and is more accurate as compared to other methods
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