Use the Following to Answer Questions -(Table: Costs of Birthday Cakes)Use Table: Costs of Birthday Cakes

question 45

Multiple Choice

Use the following to answer questions : $$\begin{array}{l}\text { Table: Costs of Birthday Cakes }\\\begin{array} { c c } \hline \text { Quantity of cakes } & \text { Variable cost, } \boldsymbol { V C } \\\hline 0 & 0 \\1 & 15 \\2 & 25 \\3 & 30 \\4 & 38 \\5 & 50 \\6 & 70 \\\hline\end{array}\end{array}$$
-(Table: Costs of Birthday Cakes) Use Table: Costs of Birthday Cakes.Assume that fixed costs are $10.What is the average total cost of two cakes?

• A) $35.00
• B) $25.00
• C) $17.50
• D) $12.50

Recognize and define dependent and independent variables in a bi-variable relationship.

Explain the graphical representation of interval variables relationships.

Describe features that indicate a strong or weak linear relationship in scatter diagrams.

Understand the limitations and appropriate usage of graphical techniques in data representation.

---

Definitions:

Financial Accounting

The field of accounting focused on the summary, analysis, and reporting of financial transactions related to a business.

Managerial Accounting

This is a form of accounting that creates financial reports specifically designed to inform the internal decision-making processes of business managers.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.

Payroll Scheme

A system or plan for managing the process of paying employees, including calculating wages, withholding taxes, and distributing paychecks.