Question 26 (2 points)

When calculating costs using the High-Low method: the highest and lowest dollar points are used.

the highest and lowest unit points are used.

the lowest overall dollar amount and the lowest overall unit amount is used.

the highest overall dollar amount and the highest overall unit amount is used.

Question 27 (2 points)

Which statement about relevant range is true? Production exceeding maximum capacity will not change the relevant range

Relevant range does not affect cost behavior

If the relevant range changes, the initial cost information is still valid.

Purchasing a new building will change the relevant range.

Question 28 (2 points)

Which of the following is used to calculate the contribution margin , in a CVP multiple product problem? Sales mix

Curvilinear costs

Profit

Fixed costs

Question 29 (2 points)

R-squared is

a regression measure of the difference between the variable and fixed costs

a measure of how close the data are to the fitted regression line

a measurement of relevant costs

determine whether the coefficient estimates and predictions are biased

Question 30 (2 points)

Which of the following accounts is not an inventory account?

Raw material

Manufacturing overhead

Work-in-Process

Finished goods