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Estimating fixed and variable components of cost

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Question 1. Utilizing the high-low method of estimating fixed and variable components of cost, the variable portion is divided by the difference in activity/consumption between the high and low cost levels to find the variable cost per unit.

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False

Question 2. When performing a CVP analysis the Margin of Safety is the amount by which the sales exceed the break-even sales level.

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False

Question 3. Under CVP & Absorption Cost one of the primary assumptions is that the firm is not a nonprofit organization.

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False

Question 4. Variable (direct) costing is approved for use by public corporations under GAAP.

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False

Question 5. When comparing absorption costing to variable costing the only difference is in the handling of fixed manufacturing overhead.

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False

Reference no: EM131059774

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