QuestionQuestion 1 (2 points) A cost that remains constant over a limited range of volume, b

Question 1 (2 points)
A cost that remains constant over a limited range of volume, but increases by a lump sum when volume increases beyond a maximum amount, is a(n):
Question 1 options:
Step-wise cost.
Fixed cost.
Curvilinear cost.
Incremental cost.
Opportunity cost.
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Question 2 (2 points)
Curvilinear costs always increase:
Question 2 options:
With decreases in volume.
In constant proportion to changes in production levels.
When management performs break-even analysis.
When volume increases, but not at a constant rate.
On a per unit basis when volume of activity goes down.
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Question 3 (2 points)
An important tool in predicting the volume of activity, the costs to be incurred, the sales to be earned, and the profit to be received is:
Question 3 options:
Target income analysis.
Cost-volume-profit analysis.
Least-squares regression of costs.
Variance analysis.
Process costing.
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Question 4 (2 points)
A company’s normal operating range, which excludes extremely high and low volumes that are not likely to occur, is called the:
Question 4 options:
Margin of safety.
Contribution range.
Break-even point.
Relevant range.
High-low point.
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Question 5 (2 points)
A target income refers to:
Question 5 options:
Income at the break-even point.
Income from the most recent period.
Income planned for a future period.
Income only in a multiproduct environment.
Income at the minimum contribution margin.
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