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5 Written questions

5 Matching questions

  1. Cost management system
  2. Direct labor
  3. Price discrimination
  4. operation costing is used in
  5. Short run
  1. a manufacturing goods that have some common characteristics plus some individual characteristics.
  2. b system to provide information about the costs of process, products, and services used and produced by an organization.
  3. c labor that can be identified directly with the product at reasonable cost
  4. d period of time over which capacity will be unchanged, usually one year
  5. e practice of selling identical goods to different customers at different prices

5 Multiple choice questions

  1. an accounting method that assigns costs to cost objects at predetermined amounts
  2. hybrid costing system used in manufacturing goods that have some common characteristics and some individual characteristics
  3. Service, Product that it acquires from anther organization (retailer), A product that it builds using materials from other organization (manufacturer)
  4. expense assigned to products sold during a period.
  5. period costs, should not be affected by activity levels within a relevant range. That is why fixed costs is always the same in the master and flexible budgets

5 True/False questions

  1. T statisticprice based on customers' perceived value for the product and the price that competitors charge


  2. flexible production budgetexpected monthly costs at different output levels.


  3. Target priceequals the target price minus the desired profit margin


  4. Independent variablex term, or predictor, on the right hand side of a regression equation


  5. Marketing costscosts required to obtain customer orders and provide customers with finished products, including advertising, sales commissions, and shipping costs