Costing - Study Mode

[#91] Target price is subtracted from per unit target operating income to calculate
Correct Answer

(D) target cost per unit

[#92] Standard costing is more widely applied in . . . . . . . . industries.
Correct Answer

(A) process and engineering

[#93] A technique, which accumulates and tracks costs of business function in value chain attributed to each market, offering from R and D to final customer support, is called
Correct Answer

(C) life cycle costing

[#94] When actual loss is . . . . . . . . than the estimated loss, the difference between the two is considered to be abnormal gain.
Correct Answer

(B) less

[#95] What is the basic difference between a static budget and a flexible budget?
Correct Answer

(A) A static budget is based on one specific level of production and a flexible budget can be prepared for any production level within a relevant range