actors affecting the classification of a cost as direct or indirect include: OA. cost behaviour patterns, cost drivers, and relevant ranges. B. materiality of the cost, available information-gathering technology, and design of operations C. materials, labour, and factory overhead D. unit costs, inventory production stage, and contractual agreements.

actors affecting the classification of a cost as direct or indirect include: OA. cost behaviour patterns, cost drivers, and relevant ranges. B. materiality of the cost, available information-gathering technology, and design of operations C. materials, labour, and factory overhead D. unit costs, inventory production stage, and contractual agreements.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter7: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 4MTC

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Similar questions

Product (or manufacturing) costs consist of a. direct materials, direct labor, and selling costs. b. direct materials, direct labor, manufacturing overhead, and operating expense. c. administrative costs and conversion costs. d. prime costs and manufacturing overhead. e. selling and administrative costs.
How are standards for materials and labor costs determined?
Accumulating costs means that a. costs must be summed and entered on the income statement. b. each cost must be linked to some cost object. c. costs must be measured and tracked. d. costs must be allocated to units of production. e. costs have expired and must be transferred from the balance sheet to the income statement.
What are the basic elements of production cost?
Describe the product life cycle. How do unit-level costs behave in relation to the product life cycle? Batch-level costs? Product-level costs? Facility-level costs?
Why are product costs assigned to the product and period costs immediately expensed?
What conditions are necessary to designate an activity as a cost driver?
Which of the following are prime costs? A. indirect materials, indirect labor, and direct labor B. direct labor, indirect materials, and indirect labor C. direct labor and indirect labor D. direct labor and direct materials
What is the primary difference between the two cost accounting systems regarding the accumulation of costs and the calculation of unit costs?
Under absorption costing, a unit of product includes which costs? A. direct material, direct labor, and manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and fixed manufacturing overhead D. direct material, direct labor, and all variable manufacturing overhead
Explain the difference between a period cost and a product cost.
The ability to assign a cost directly to a cost object by means of a causal relationship is a. allocation b. traceability c. separability d. value chain process