describe three manufacturing cost terms. Provide an
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- Describe the term “cost driver” and give an example. Describe the term “relevant range” and give an example.Please define THREE of the following terms and provide an example of each one you have selected: • Conversion Costs• Direct Costs• Direct Labor Cost• Direct Materials Cost• Factory Overhead Cost• Indirect Costs• Period Costs• Prime Costs• Product CostsChoose the most appropriate answer(s): Terms used in manufacturing cost systems are: manufacturing costs prime costs conversion costs both B and C
- List any four functions of management. Explain what type of cost management information is appropriate for each.Classifying costs Classify each cost by placing an X in the appropriate columns. The first cost is completed as an example.Discuss four frequently encountered problems when collecting cost data on variables included in a cost function.