5 Written questions
5 Matching questions
- Cost management system
- Direct labor
- Price discrimination
- operation costing is used in
- Short run
- a manufacturing goods that have some common characteristics plus some individual characteristics.
- b system to provide information about the costs of process, products, and services used and produced by an organization.
- c labor that can be identified directly with the product at reasonable cost
- d period of time over which capacity will be unchanged, usually one year
- e practice of selling identical goods to different customers at different prices
5 Multiple choice questions
- an accounting method that assigns costs to cost objects at predetermined amounts
- hybrid costing system used in manufacturing goods that have some common characteristics and some individual characteristics
- Service, Product that it acquires from anther organization (retailer), A product that it builds using materials from other organization (manufacturer)
- expense assigned to products sold during a period.
- 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
T statistic → price based on customers' perceived value for the product and the price that competitors charge
flexible production budget → expected monthly costs at different output levels.
Target price → equals the target price minus the desired profit margin
Independent variable → x term, or predictor, on the right hand side of a regression equation
Marketing costs → costs required to obtain customer orders and provide customers with finished products, including advertising, sales commissions, and shipping costs