Semi-variable costs changes both in total and per unit A. True B. False

In a short run, fixed cost remain constant, but variable cost change with changes in total product.TrueFalse

Whether a cost is fixed or variable with respect to a particular activity is also affected by the length of time A. True B. False

In the cost function y = a + bx; the 'a' represents?Question 14Answera.Variable costb.Fixed costc.Semi-variable costd.Total cost

Choose the term that most appropriately completes the following statements: Blank 1 are costs that can be easily or physically traced to a particular cost object.Direct material and direct labour are combined to form Blank 2Blank 3 is a cost that varies, in total, in direct proportion to changes in the level of activity or volume.Fixed costs per unit will Blank 4 when the level of activity increases.Semi-variable costs include an amount that is fixed within a relevant range of output and an amount that varies Blank 5 with output changes.Blank 6 is a cost that remains constant, in total, regardless of changes in the level of activity within the relevant range.Blank 7 are potential benefit that is given up when one alternative is selected over another.Blank 8 are cost that have already been incurred as a result of past decision and have a zero value when making future decisions.Blank 9 are those costs that are identified with products manufactured.Direct labour and manufacturing overheads are combined to form Blank 10 , which represent the cost of converting direct material into finished products.

VARIABLE COSTING