The better fit between estimated cost and actual observations is represented by ___________?

Related Mcqs:

1. The worse fit between estimated cost and actual observations is shown on regression line with ___________?

   A. larger residual terms B. zero residual terms C. variable residual terms D. smaller residual terms...

2. The cost analysis method, which uses mathematical method to use fit between past data observations and cost functions is termed as ___________?

   A. quantitative analysis method B. qualitative analysis method C. account analysis method D. conference analysis method...

3. Of the cost allocation base, the difference between actual and budgeted variable overhead cost multiplied by actual quantity for actual output is classified as ____________?

   A. variable overhead spending variance B. fixed overhead spending variance C. constant spending variance D. potential spending variance...

4. The vertical difference, which measures distance between estimated and actual cost for every single observation is classified as __________?

   A. residual term B. positive term C. negative term D. squared term...

5. An estimated coefficient, which indicates the degree by which the estimated values are affected by random factors is known as ___________?

   A. standard error of estimated coefficient B. weighted error of estimated coefficient C. average of estimated coefficient D. variance of estimated coefficient...

6. The relationship between cost and cost driver is economically plausible if the goodness of fit _________?

   A. has meaning B. has no meaning C. has index values D. has no index values...

7. In actual costing, an actual quantity of used inputs are multiplied with actual prices to calculate: ___________?

   A. fixed direct manufacturing cost B. variable direct manufacturing cost C. fixed indirect manufacturing cost D. variable indirect manufacturing cost...

8. If an actual selling price is $400, an actual result is $250 and an actual units sold are 500, then the selling price variance will be __________?

   A. $45,000 B. $55,000 C. $75,000 D. $65,000...

9. If the actual selling price is $500, actual result is $250 and the actual units sold are 350, then the selling price variance will be ____________?

   A. $87,500 B. $97,500 C. $67,500 D. $57,500...

10. The line which uses to join observations with lower and highest values of cost driver is called ___________?

    A. straight line B. curved line C. horizontal line D. vertical line...