Which cost remains constant in total regardless of activity level within a relevant range?, Direct labour, Fixed cost, Variable cost, Mixed cost, Which cost changes in total as activity level changes?, Variable cost, Committed cost, Sunk cost, Fixed cost, A semi-variable cost is also known as what?, Step cost, Fixed cost, Marginal cost, Mixed cost, Which cost has both fixed and variable elements?, Fixed cost, Opportunity cost, Semi-variable cost, Relevant cost, What does the high-low method estimate?, Cash budget, Inventory value, Break-even point, Cost behaviour, In the high-low method, which two activity levels are used?, Highest and lowest, First and last, Average and lowest, Budgeted and actual, In the high-low method, variable cost per unit is found by dividing change in total cost by what?, Sales revenue, Change in activity, Unit selling price, Total fixed cost, After finding variable cost per unit, how is fixed cost estimated in the high-low method?, Ignore total cost, Divide by units, Subtract variable cost, Add total activity, Which of the following is most likely a fixed cost?, Factory rent, Raw materials, Sales commission, Packaging cost, Which of the following is most likely a variable cost?, Building insurance, Direct materials, Manager salary, Office rent, Using high-low, what is found first from the two data points?, Variable rate, Sales mix, Fixed cost, Break-even point, High activity: 1,000 units, $5,000. Low activity: 600 units, $3,400. Variable cost per unit?, $3.00, $4.00, $5.00, $6.00, If variable cost is $4 per unit and total cost at 1,000 units is $5,000, fixed cost is?, $4,000, $5,000, $1,000, $500, High: 900 hours, $4,700. Low: 500 hours, $3,100. Change in cost is?, $1,200, $4,200, $2,200, $1,600, High: 900 hours, $4,700. Low: 500 hours, $3,100. Change in activity is?, 300 hours, 400 hours, 500 hours, 600 hours, With cost change $1,600 and activity change 400 hours, variable cost per hour is?, $3, $2, $5, $4, If variable cost is $4 per hour, total cost at 500 hours should include variable cost of?, $3,100, $1,000, $2,000, $4,700, Using total cost $3,100 at 500 hours and variable cost $2,000, fixed cost is?, $1,100, $900, $1,600, $2,000, Estimated cost formula from high-low is usually written as?, P - vu, F + vu, u ÷ F, F × u, If fixed cost is $1,100 and variable cost is $4 per unit, total cost at 700 units is?, $4,100, $2,800, $3,900, $3,500

Cost Behaviour

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