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APSC 221 Cost Concepts Questions with complete solution 2024/2025 $12.99   Add to cart

Exam (elaborations)

APSC 221 Cost Concepts Questions with complete solution 2024/2025

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  • APSC 221

APSC 221 Cost Concepts Questions with complete solution 2024/2025 APSC 221 Cost Concepts fixed costs - correct answer Costs that do not vary with the quantity of output produced variable costs - correct answer costs that vary with the quantity of output produced Incremental cost - co...

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  • October 6, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • APSC 221
  • APSC 221
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Carzola98
APSC 221 Cost Concepts
fixed costs - correct answer ✔Costs that do not vary with the quantity of
output produced


variable costs - correct answer ✔costs that vary with the quantity of output
produced


Incremental cost - correct answer ✔Additional Cost (or rev) that results from
increasing the output of a system


Direct Costs - correct answer ✔costs that can be easily and accurately
traced to a cost object


indirect costs - correct answer ✔Costs that cannot be easily and accurately
traced to a cost object.


cash cost/cash flow - correct answer ✔a cost that involves a payment of
cash


Book Cost (Noncash Cost) - correct answer ✔a cost that does not involve a
cash transaction but is reflected in the accounting system


sunk cost - correct answer ✔a cost that has already been committed and
cannot be recovered


oppurtunity cost - correct answer ✔the most desirable alternative given up as
the result of a decision

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