Question Details

Which cost estimation method analyzes accounts



1) The conference method estimates cost functions ________.
A) using quantitative methods that can be very time consuming and costly 
B) based on analysis and opinions gathered from various departments 
C) using time-and-motion studies 
D) by mathematically analyzing the relationship between inputs and outputs in physical terms


2) The account analysis method estimates cost functions ________.
A) by classifying cost accounts as variable, fixed, or mixed based on qualitative analysis 
B) using time-and-motion studies 
C) at a high cost, which renders it seldom used 
D) in a manner that cannot be usefully combined with any other cost estimation methods 


3) Quantitative analysis methods estimate cost functions ________.
A) using the time-and-motion studies
B) based on analysis and opinions gathered from various departments 
C) using a formal mathematical method to fit cost functions to past data observations
D) using the pooling of knowledge from each value chain function 

4) Variable cost per labor-hour is $8.50. Fixed cost is $10,500. Calculate the total cost for 350 labor hours. Machine hours during the period are 50.
A) $10,925
B) $13,475
C) $13,900
D) $3,400

5) Which cost estimation method analyzes accounts in the subsidiary ledger as variable, fixed, or mixed using qualitative methods? 
A) the account analysis method 
B) the conference method 
C) the marginal costing method 
D) the incremental costing method 





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