Answer ALL questions (3 marks) Section A: M/Choice Questions (Circle one answer) 1) Control includes a) implementing planning decisions b) evaluating performance. c) providing feedback to help with future decision making d) all of the above. 2) Cost behavior refers to a) how costs react to a change in the level of activity b) whether a cost is incurred in a manufacturing, merchandising, or service company e) classifying costs as either inventoriable or period costs d) whether a particular expense has been ethically incurred 3) Cost-volume-profit analysis assumes all EXCEPT a) all costs are variable or fixed. b) units manufactured equal units sold. c) total variable costs remain the same over the relevant range. d) total fixed costs remain the same over the relevant range. 4) For planning purposes, managers will use: a) budgeted costs b) actual costs c) both costs d) neither cost 5) The account analysis method estimates cost functions a) by classifying cost accounts as variable, fixed, or mixed based on qualitative analysis b) using time-and-motion studies c) at a high cost, which renders it seldom used d) in a manner that cannot be usefully combined with any other cost estimation methods 6) Actual costs are: a) the costs incurred b) budgeted costs c) estimated costs d) forecasted costs