Cost Management Paper 8

1

Costs that arise from periodic budgeting decisions that have no strong input-output relationship are commonly called






2

The costs included in Huronís fixed overhead are






3

A cost that may be eliminated by performing an activity more efficiently is a(n)






4

Spoilage that is not expected to occur under normal, efficient operating conditions is considered






5

Products of relatively small total value that are produced simultaneously from a common manufacturing process with products of greater value and quantity are






6

A company produces stereo speakers for automobile manufacturers. The automobile manufacturers reject approximately 3% of the stereo speakers received as being of unacceptable quality. The company inspects the rejected speakers to determine which ones should be reworked and which ones should be discarded. The discarded speakers are classified as






7

A joint process is a manufacturing operation yielding two or more identifiable products from the resources employed in the process. The two characteristics that identify a product generated from this type of process as a joint product are that it






8

Abnormal spoilage






9

Johnson waits two hours in line to buy a ticket to an NCAA Final Four Tournament. The opportunity cost of buying the $200 ticket is






10

The advertising expense estimated by Gleason for the introduction of the new products is an example of a(n)






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