Managerial Accounting Ch 5

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14 Terms

1
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How do costs behave when there is a change in volume: What are the 3 types of costs?

  1. Variable costs

  2. Fixed costs

  3. Mixed costs

2
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How do costs behave when there is a change in volume: Variable costs

3
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How do costs behave when there is a change in volume: How to find the total variable cost of batteries?

4
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How do costs behave when there is a change in volume: Fixed cost

Ex:

5
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How do costs behave when there is a change in volume: summary of variable and fixed cost

6
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How do costs behave when there is a change in volume: Mixed cost

A cost that has both fixed and variable components. (Not all costs are fixed or variable. Some are a combination of both.

  • Compensation for sales representatives

  • Use of vehicles

7
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How do costs behave when there is a change in volume: High- Low method

8
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How do costs behave when there is a change in volume: 

9
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How do costs behave when there is a change in volume: 

10
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How do costs behave when there is a change in volume: 

11
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How do costs behave when there is a change in volume: Regression Analysis

12
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How do costs behave when there is a change in volume: Scatter Chart

13
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How do costs behave when there is a change in volume: Relevant Range

14
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How do costs behave when there is a change in volume: Variable and fixed cost activity