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Cost Accounting Final exam

?

For setting long-term prices, a company should ideally use full product costs. Full product costs for pricing purposes typically should

include all direct costs plus an appropriate allocation of the indirect costs of all business functions
include all costs that are traceable to the product
include all manufacturing and administrative costs
allow for the highest possible product prices

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (A)

include all direct costs plus an appropriate allocation of the indirect costs of all business functions

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