is TRUE?
Student Answer:
These costs are recorded routinely by cost accounting
systems.
These costs relate to the benefit lost or foregone when a
chosen option (course of action) precludes the benefits from
an
alternative option.
These costs are generally deductible for federal income tax
purposes.
In terms of most short-run decisions, they are irrelevant.
Question 5. Question : A useful device for solving production
problems involving
multiple products and limited resources is:
Student Answer:
Gross profit per unit of product.
Contribution per unit of scarce resource.
Value-stream costing.
Relevant cost pricing.
The contribution income statement.