(Appendix 2A)_________________ Is a Method of Separating a Mixed Cost

question 1

Multiple Choice

(Appendix 2A) _________________ is a method of separating a mixed cost into its fixed and variable elements by fitting a line to the data that minimizes the sum of the squared errors.

• A)Account analysis
• B)Scattergraph
• C)High-low
• D)Least-square regression

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Definitions:

Periodic Inventory System

An inventory accounting method where updates to inventory levels are made at specific intervals, not continuously.

Ending Inventory

The value of the goods still available for sale by a company at the end of an accounting period.

Retained Earnings

The portion of net earnings not paid out as dividends but retained by the company for reinvestment.

Year-end Balance Sheet

A financial statement that lists a company's assets, liabilities, and equity at the end of its fiscal year.