In plotting of cost functions, the level of activities according to which the charged cost is represented on ____________?
Correct answer: A. x-axis
- A. x-axis
- B. y-axis
- C. unit axis
- D. term axis
Explanation
In a cost-function graph, the activity level is the independent variable, so it is plotted on the x-axis; cost is plotted on the y-axis.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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