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28 Nov 2020
Hall Company manufactures a single product. Annual production costs incurred in the manufacturing process are shown below for two levels of production.
Match the definitions to the terms.
- Remain constant in total, but vary on a per-unit basis.
- Contain both a fixed element and a variable element.
- Vary both in total and on a per-unit basis.
- Vary in total but remain constant on a per-unit basis.
Classify each cost above as either variable, fixed, or mixed.
Hall Company manufactures a single product. Annual production costs incurred in the manufacturing process are shown below for two levels of production.
Match the definitions to the terms.
- Remain constant in total, but vary on a per-unit basis.
- Contain both a fixed element and a variable element.
- Vary both in total and on a per-unit basis.
- Vary in total but remain constant on a per-unit basis.
Classify each cost above as either variable, fixed, or mixed.
Joshua StredderLv10
1 Feb 2021
Related questions
Match the items in the two columns below by entering theappropriate code letter in the space provided.
| The amount of revenue remaining after deducting variablecosts. | |
| Costs that contain both a variable and a fixed element. | |
| The percentage of sales dollars available to cover fixed costsand produce income. | |
| Identifies the activity which causes changes in the behavior ofcosts. | |
| The difference between actual or expected sales and sales atthe break-even point. | |
| Costs that vary in total directly and proportionately withchanges in the activity level. | |
| The level of activity at which total revenues equal totalcosts. | |
| The range over which the company expects to operate during theyear. | |
| Costs that remain the same in total regardless of changes inthe activity level. | |
| A costing approach in which all manufacturing costs are chargedto the product. | |
| A method that uses the total costs incurred at the high and lowlevels of activity. | |
| A costing approach in which only variable manufacturing costsare product costs and fixed manufacturing costs are period costs(expenses). |
| 1. | Activity index |
| 2. | Variable costs |
| 3. | Fixed costs |
| 4. | High-low method |
| 5. | Relevant range |
| 6. | Mixed costs |
| 7. | Break-even point |
| 8. | Contribution margin |
| 9. | Variable costing |
| 10. | Absorption costing |
Match the items in the two columns below by entering theappropriate code letter in the space provided.
| The amount of revenue remaining after deducting variablecosts. | |
| Costs that contain both a variable and a fixed element. | |
| The percentage of sales dollars available to cover fixed costsand produce income. | |
| Identifies the activity which causes changes in the behavior ofcosts. | |
| The difference between actual or expected sales and sales atthe break-even point. | |
| Costs that vary in total directly and proportionately withchanges in the activity level. | |
| The level of activity at which total revenues equal totalcosts. | |
| The range over which the company expects to operate during theyear. | |
| Costs that remain the same in total regardless of changes inthe activity level. | |
| A costing approach in which all manufacturing costs are chargedto the product. | |
| A method that uses the total costs incurred at the high and lowlevels of activity. | |
| A costing approach in which only variable manufacturing costsare product costs and fixed manufacturing costs are period costs(expenses). |
| 1. | Activity index |
| 2. | Variable costs |
| 3. | Fixed costs |
| 4. | High-low method |
| 5. | Relevant range |
| 6. | Mixed costs |
| 7. | Break-even point |
| 8. | Contribution margin |
| 9. | Margin of safety |
| 10. | Contribution margin ratio |
| 11. | Variable costing |
| 12. | Absorption costing |
