Refresh or test your managerial accounting knowledge on cost behavior:
Multiple choice question
1. A cost that changes abruptly at intervals of activity because the resources and the costs come in indivisible chunks is called a(n):
2. The _________ portion of a mixed cost varies proportionately with activity within the relevant range.
3. Managers influence cost behavior through their:
4. In the cost function equation Y=F + VX, Y represents the:
5. _______ is the formal method of analysis used by managers to identify appropriate cost drivers and their effects on the costs of making a product or providing a service.
6. The food & beverage section of ABC Ltd incurred the following costs for March 20XX:
- Revision Notes On Cost Behaviour
- Explain what is Cost Volume Profit (CVP) Analysis
- What Is Flexible Budget? What is the difference between flexible and fixed budget? In what situations, flexible budgeting is useful or being used? What are the steps involved when preparing flexible budget?
- Cost Behaviors:Define Variable, Fixed And Mixed Cost
- Revision Notes On Cost/volume/profit (CVP) relationships and break-even analysis.