Question: In describing the cost formula equation Y = a + bX , which of the following statements is correct? Group of answer choices X

In describing the cost formula equation Y = a + bX, which of the following statements is correct?
Group of answer choices
"X" is the fixed cost component.
"a" is the fixed cost component.
In the high-low method, "b" equals change in activity divided by change in costs.
As "X" increases "Y" decreases.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

ANAPLAN PLEASE HELP WITH THE ANSWERS Level 2 Model Building - Sprint 2 Exam Question 9 of 1 0 Organize the following activities in sequence following the Front - to - Back model design process. Step...

Q:

Iadanza Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $195.70 per...

Q:

QUESTION 5 0.5 points Door Company uses a job costing system. Door Company estimated manufacturing overhead costs for 20x9 at $378,000. The predetermined manufacturing overhead rate was based on...

Q:

Question 18 (2 points) In describing the cost formula equation Y = a + bx, which of the following statements is correct: b "X" is the dependent variable "a" is the fixed component "b" is the fixed...

Q:

In describing the cost formula equation Y = a + bX, which of the following statements is correct? A) The X term is the dependent variable. OB) The a term is the fixed component. c) In the high-low...

Q:

In describing the cost formula equation Y = a + bx, which of the following statements is NOT correct? A "a" is the fixed component. B In the high-low method, "b" equals change in activity divided by...

Q:

In describing the cost formula equation Y = a + bX , which of the following statements is correct? a . The X term is the dependent variable b . As the X term increases, the Y term decreases c . In...

Q:

In describing the cost formula equation Y = a + bX , which of the following statements is correct? a . As the X term increases, the Y term decreases b . In the high - low method, the b term equals...

Q:

In describing the cost formula equation Y = a + bx, which of the following statements is correct? Select one: O a. "X" is the dependent variable. O b. "a" is the fixed component. O c. In the high-low...

Q:

In describing the cost formula equation Y = a + bX , which of the following statements is correct? a . The a term is the fixed component b . In the high - low method, the b term equals change in...

Q:

In describing the cost formula equation Y = a + bx, which of the following statements is correct? A B "a" is the fixed component. "X" is the dependent variable. As "X" increases "Y" decreases. D In...

Q:

Suppose that identical duopoly firms have constant marginal costs of $ 10 per unit. Firm 1 faces a demand function of q 1 = 100 - 2p 1 + p 2 , where q 1 is Firm 1 s output, p 1 is Firm 1 s price, and...

Q:

A 3-phase,4 pole Induction motor Is connected to 400 V,50 Hz supply Determine a) Synchronous Speed b) Actual speed of motor when running at 4% slip c) Frequency of emf induced in the motor.

Q:

At the beginning of fiscal 2 0 2 4 , a county issues two - year general obligation bonds at a par value of $ 1 0 0 , 0 0 0 and an annual coupon rate of 2 . 5 percent, to finance general operations....

Q:

Media outlets often have websites that provide in-depth coverage of news and events. Portions of these websites are restricted to members who pay a monthly subscription to gain access to exclusive...