ACCT10001 Lecture Notes - Lecture 10: Variable Cost, Weighted Arithmetic Mean, Opportunity Cost
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31 Jul 2018
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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 |