Asked by Natalia Montenegro on May 28, 2024
Verified
In the standard cost formula Y = a + bX, what does the "Y" represent?
A) total cost
B) total fixed cost
C) total variable cost
D) variable cost per unit
Standard Cost Formula
A predetermined cost of manufacturing a single unit or a number of product units during a specific period under normal conditions, used for budgeting and cost control.
Total Cost
The aggregate amount of all costs involved in producing a product or delivering a service, including direct materials, labor, and overhead expenses.
- Utilize the standard cost formula for total, fixed, and variable costs.
Verified Answer
RT
Ribaraoi TekieraMay 30, 2024
Final Answer :
A
Explanation :
In the standard cost formula Y = a + bX, Y represents the total cost, which includes a combination of fixed and variable costs.
Learning Objectives
- Utilize the standard cost formula for total, fixed, and variable costs.
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