The three basic elements of the cost of a manufactured product are:

Related MCQs

• ………. Is the increase or decrease in total cost which results from producing or selling additional or fewer units of a product or from a change in the method of production or distribution such as the use of improved machinery, addition or exclusion of a product or territory or selection of an additional sales channel.
• A 'product' cost is a cost that is classified by:
• ………..is the process of accounting for cost which includes the application of cost control methods and ascertainment of profitability of activities
• Marginal cost and differential cost are the same when ……..costs do not change with change in output
• Marginal cost is the ……….cost of producing an additional unit of output
• Marginal cost is the aggregate of prime cost and ……………….
• A 'direct' cost is a cost that is classified by:
• ………………. are prepared so as to provide time perspective to the consideration of various elements of financial position embodied in such statements.
• The basic function of Management Accounting is to ……………………….
• Which of the following are basic inventories for a manufacturer?