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The Adkerson Company  assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. They has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation. Cost Hours $24,700 5,000 26,000 5,500 34,000 7,500 45,370 10,300 38,000 9,500 What is the cost function?

In evaluating different alternatives, it is useful to concentrate on ________.

Wes and Whit Inc. planned to use $147 of material per unit but actually used $150 of material per unit, and planned to make 1,100 units but actually made 900 units.The flexible-budget variance for materials is ________.

Trinkle Corporation uses activity-based costing. The company produces two products: Snaps and Pops. The expected annual production of Snaps is 1,000 units, while the expected annual production of Pops is 3,000 units. There are three activity cost pools: Assembly, Testing, and Packing. The estimated costs and activities for each of these three activity pools follows: Expected activity: Activity cost pool Estimated cost Snaps Pops Total Assembly  $ 4,550  600  100  700 Testing  $ 22,320  1,100   700 1,800 Packing  $ 1,738  60 160 220 The overhead cost of Pops would be closest to:

The Jackson Cotton Candy Company had the following information available regarding last year’s operations: Sales(100,000 units)  $200,000 Variable costs  $120,000 Contribution margin  $80,000 Fixed costs  $50,000 Net Income  $30,000 If sales were to increase by 10%, what would be the effect on net income?

When deciding to lease a new cutting machine or continue using the old machine, the irrelevant cost is ________.

What is the minimum number if accounts that must be involved in any transaction?

Apex sold 2,000 of services to Gray Co on credit. Gray promised to pay for it next month. Apex will report a 2,000

Operating income plus total fixed costs equals the contribution margin.

Texas Computer Repair uses accrual basis accounting. A computer was repaired on May 15. The customer picked up the computer on June 1 and mailed the payment on June 5. On time computer repair received the check in the mail on June 10. The revenues should be recognized as earned on which date?