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Question: Which term describes costs that can be directly traced to a specific product?Options: Indi..
Question: What is the break-even point in units?Options: Total fixed costs divided by contribution m..
Question: What is the primary objective of cost control?Options: Maximizing revenueMinimizing costsE..
Question: In cost-volume-profit (CVP) analysis, what does the contribution margin represent?Options:..
Question: In budgeting, what does a \'flexible budget\' allow for?Options: Adjusting for actual acti..
Question: Which of the following is a variable cost?Options: Rent of factory buildingSalaries of per..
Question: In a case study, a company has a contribution margin of $40 per unit and fixed costs of $2..
Question: Which of the following is NOT a component of cost control?Options: BudgetingVariance Analy..
Question: In a case study, a company has total fixed costs of $100,000 and sells its product for $25..
Question: If a company has a standard cost of $5 per unit and the actual cost is $6 per unit, what t..
Question: In a case study, a company sells a product for $50, with variable costs of $30 and fixed c..
Question: Which costing method includes both fixed and variable costs in product costing?Options: Ab..
Question: If a company has a budgeted production of 1,000 units and actual production of 1,200 units..
Question: In a case study, a company incurs $10,000 in rent for its factory. How should this cost be..
Question: What type of cost is directly associated with the production of a specific product?Options..
Question: Which of the following is a characteristic of fixed costs?Options: They vary with producti..
Question: What is the primary focus of cost-volume-profit (CVP) analysis?Options: To analyze the imp..
Question: In marginal costing, which costs are treated as period costs?Options: Fixed manufacturing ..
Question: Which of the following is NOT a component of total cost in cost control?Options: Direct ma..
Question: Which costing method includes both fixed and variable costs in product costs?Options: Marg..
Question: In a flexible budget, costs are adjusted based on what factor?Options: Fixed costs onlyVar..
Question: Which of the following best describes the term \'opportunity cost\'?Options: The cost of t..
Question: What is the primary difference between direct and indirect costs?Options: Direct costs can..
Question: Which of the following is a key component of cost control?Options: Setting performance sta..
Question: What does CVP analysis primarily help management to determine?Options: The total cost of p..
Question: In marginal costing, which of the following costs is treated as a period cost?Options: Dir..
Question: Which costing method is most appropriate for a company that produces custom-made products?..
Question: What is the main focus of variance analysis?Options: To compare actual costs to budgeted c..
Question: In a flexible budget, costs are adjusted based on which of the following?Options: Actual s..
Question: What is the primary purpose of cost classification in management accounting?Options: To de..
