Question: 1. If production increases by 40%, how will total variable costs likely react within the relevant range? A. Increase by 45% B. Increase by 40%

1. If production increases by 40%, how will total variable costs likely react within the relevant range? A. Increase by 45% B. Increase

1. If production increases by 40%, how will total variable costs likely react within the relevant range? A. Increase by 45% B. Increase by 40% C. Decrease by 40% D. Remain the same 2. If production increases by 40%, how will total fixed costs likely react within the relevant range? A. Increase by 45% B. Increase by 40% C. Decrease by 40% D. Remain the same 3. If production increases by 40%, how will variable costs per unit likely react within the relevant range? A. Increase by 45% B. Increase by 40% C. Decrease by 40% D. Remain the same 4. If production increases by 40%, how will fixed costs per unit likely react within the relevant range? A. Increase by more than 45% B. Increase by less than 40% C. Decrease by less than 40% D. Remain the same 5. The term "relevant range" as used in management accounting means the range over which a. costs may fluctuate. b. cost relationships (patterns) are valid and true. c. production may vary. d. relevant costs are incurred

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