1. Which of the following is not a method used in cost estimation? A) High-low method B) Least-squares regression C) Account analysis D) Time-driven activity-based costing Correct Answer: D) Time-driven activity-based costing Rationale: Time-driven activity-based costing is a method of cost accounting used in managerial accounting that allows businesses to gather data about their operating costs. 2. In cost-volume-profit analysis, what does the contribution margin ratio signify? A) The percentage of each sales dollar available to cover fixed costs and profit B) The total fixed costs divided by the contribution margin per unit C) The change in total costs due to a one-unit change in production volume D) The ratio of variable costs to sales revenue Correct Answer: A) The percentage of each sales dollar available to cover fixed costs and profit Rationale: The contribution margin ratio is the percentage of