Question 1 (1 point)

Mixed costs are part variable and part fixed.

Question 1 options:

	True
	False

Question 2 (1 point)

The line determined by regression analysis is sometimes referred to as the "line of best fit."

Question 2 options:

	True
	False

Question 3 (1 point)

The contribution margin income statement presents ________ below the contribution margin line.

Question 3 options:

	all fixed expenses
	only variable expenses relating to selling and administrative activities
	only fixed expenses relating to selling and administrative activities
	all variable expenses

Question 4 (1 point)

Which of the following costs is an example of a fixed cost?

Question 4 options:

	Delivery costs
	Direct materials
	Salary of plant manager
	Sales commissions

Question 5 (1 point)

Fixed costs per unit increase as production levels increase.

Question 5 options:

	True
	False

Question 6 (1 point)

Using account analysis, what type of cost is the rental of a space at $2,000 per month?

Question 6 options:

	Step
	Mixed
	Variable
	Fixed

Question 7 (1 point)

The tennis club where you play tennis charges $35.00 per month and $12.00 per hour of court time. If your current bill is $131.00, how many hours did you use?

Question 7 options:

	11 hours
	8 hours
	12 hours
	3 hours

Question 8 (1 point)

Contribution margin income statements organize costs by behaviour rather than by function.

Question 8 options:

	True
	False

Question 9 (1 point)

The contribution margin income statement presents ________ above the contribution margin line.

Question 9 options:

	all variable expenses
	only variable expenses relating to selling and administrative activities
	only fixed expenses relating to selling and administrative activities
	all fixed expenses

Question 10 (1 point)

If production increases by 15%, how will total variable costs likely react?

Question 10 options:

	Increase by 15%
	Increase by 7.5%
	Decrease by 15%
	Remain the same