cost

Front

For pricing decisions, full product costs include: include all costs that are traceable to the product., include all manufacturing and selling costs., include all direct costs plus an appropriate allocation of the indirect costs of all business functions., allow for the highest possible product prices.

Back

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

Front

Relevant costs for target pricing are: variable manufacturing costs., variable manufacturing and variable nonmanufacturing costs., all fixed costs., all future costs, both variable and fixed., None

Back

all future costs, both variable and fixed.

Front

Place the following steps for the implementation of target costing in order: B D A C, B A D C, A D B C, A B C D, None

Back

B D A C

Front

The cost-plus pricing approach is generally in the form:

Back

Cost base + Markup component = Prospective selling price.

Front

In cost-plus pricing, the markup component?

Back

is ultimately determined by the market.

Front

What pricing strategy starts with estimated product costs and then adds desired operating income? Options: Cost-plus pricing, Target costing, Kaizen costing, Life-cycle budgeting, None

Back

Cost-plus pricing

Front

The amount of markup percentage is usually higher if demand is strong.

Back

demand is strong.

Front

Which of the following most accurately describes the contrast between process and job costing?

Back

the main difference is the extent of averaging used to compute the unit costs.

Front

The weighted-average process-costing method calculates the equivalent units by:

Back

the equivalent units completed during the current period plus the equivalent units in ending inventory.

Front

Under the weighted-average method, how would you calculate the cost per equivalent units with regards to conversion costs? Options: conversion costs for work done in the current period/units completed and transferred out in the current period, (total conversion costs in beginning work in process)/(units completed and transferred out during the period + equivalent units in ending inventory), (total conversion costs in beginning work in process + conversion cost for work done in the current period)/(units completed and transferred out during the period + equivalent units in ending inventory), (total direct labor costs in beginning work in process + conversion cost for work done in the current period)/(units completed and transferred out during the period + equivalent units in ending inventory), None

Back

(total conversion costs in beginning work in process + conversion cost for work done in the current period)/(units completed and transferred out during the period + equivalent units in ending inventory)