Question

Costs that have already incurred Cost of goods available for sale minus ending (finished goods) inventory Selling, general and administrative expenses Triple bottom line 1. Materials used in manufacturing Raw materials inventory 2. Can be traced to a cost object Work in process inventory 3. Total manufacturing costs to account for minus ending work in process inventory Finished goods inventory 4. Value chain 5. Goods that are partway through the manufacturing process, but not complete Cost object 6. Costs incurred during the production 0000

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Answer 1

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Costs that have already incurred.	Sunk Cost
Cost of goods available for sale minus ending finished goods inventory	Cost of goods sold
Selling, general and administrative expenses	Period costs
Materials used in manufacturing	Raw material inventory
Can be traced to a cost object	Direct cost
Total manufacturing cost to account for minus ending work in process inventory	Cost of goods manufactured
Goods that are partway through manufacturing process, but not complete	Work in process inventory
Costs incurred during the production or purchases stage of the value chain	Product costs
Completed goods that have not been sold	Finished goods inventory
Activities that add value to the company’s products and services	Value chain
Indirect materials, indirect labor and other indirect manufacturing costs	Indirect cost
Relates to a cost object but cannot be traced to it	Manufacturing overhead
Stay the same over a wide range of activity levels	Non controllable costs
Beginning inventory + purchases OR Beginning Finished Goods Inventory+ Cost of goods manufactured	Cost of goods available for sale
Sales revenue minus Cost of goods sold	Gross profit
Costs that are locked in by previous management decisions	Fixed cost
Direct materials, Direct labor and manufacturing overhead	Types of Product costs
Divide indirect costs over all units produced	Allocating a cost
Company performance is evaluated in terms of its impact on propel and the planet as well as profitability	Triple bottom line
The difference in cost between two alternatives	Differential costs
Direct labor and manufacturing overhead	Conversion costs
Item that has a separate measurement of cost	Cost object
Materials available for use minus ending raw materials inventory	Direct Materials used
Costs that can be influence/changed by the management	Controllable costs
Change as volume changes	Variable cost
Costs that have already incurred.	Sunk Cost
Cost of goods available for sale minus ending finished goods inventory	Cost of goods sold
Selling, general and administrative expenses	Period costs
Materials used in manufacturing	Raw material inventory
Can be traced to a cost object	Direct cost
Total manufacturing cost to account for minus ending work in process inventory	Cost of goods manufactured
Goods that are partway through manufacturing process, but not complete	Work in process inventory
Costs incurred during the production or purchases stage of the value chain	Product costs
Completed goods that have not been sold	Finished goods inventory
Activities that add value to the company’s products and services	Value chain
Indirect materials, indirect labor and other indirect manufacturing costs	Indirect cost
Relates to a cost object but cannot be traced to it	Manufacturing overhead
Stay the same over a wide range of activity levels	Non controllable costs
Beginning inventory + purchases OR Beginning Finished Goods Inventory+ Cost of goods manufactured	Cost of goods available for sale
Sales revenue minus Cost of goods sold	Gross profit
Costs that are locked in by previous management decisions	Fixed cost
Direct materials, Direct labor and manufacturing overhead	Types of Product costs
Divide indirect costs over all units produced	Allocating a cost
Company performance is evaluated in terms of its impact on propel and the planet as well as profitability	Triple bottom line
The difference in cost between two alternatives	Differential costs
Direct labor and manufacturing overhead	Conversion costs
Item that has a separate measurement of cost	Cost object
Materials available for use minus ending raw materials inventory	Direct Materials used
Costs that can be influence/changed by the management	Controllable costs
Change as volume changes	Variable cost