Home / Questions / Match the term on the right with the appropriate definition provided on the right. Defini
Match the term on the right with the appropriate definition provided on the right.
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Definition |
Term |
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1. _____ |
A statistical procedure for determining the line that best fits the data by using all of the historical data points, not just the high and low data points |
A. Outliers |
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2. _____ |
Costs that change, but not in direct proportion to changes in volume |
B. Fixed costs |
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3. _____
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A cost behavior that is not linear (not a straight line) |
C. Contribution margin |
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4. _____ |
A method for determining cost behavior that is based on two historical data points: the highest and lowest volume of activity |
D. Variable costs |
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5. _____
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Costs that do not change in total despite wide changes in volume |
E. Cost behavior |
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6. _____ |
A cost behavior that is fixed over a small range of activity and then jumps to a different fixed level with moderate changes in volume |
F. High-low |
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7. _____
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Sales revenue minus variable expenses |
G. Curvilinear costs |
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8. _____
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Abnormal data points; data points that do not fall in the same general pattern as the other data points |
H. Mixed costs |
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9. _____ |
A method for determining cost behavior that is based on a manager's judgment in classifying each account as to its cost behavior |
I. Cost equation |
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10. _____
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Describes how costs change as volume changes |
J. Regression analysis |
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11. _____ |
A mathematical equation for a straight line that expresses how a cost behaves |
K. Account analysis |
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12. _____ |
Costs that change in total in direct proportion to changes in volume |
L. Step costs |
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