These involve items in a batch that are similar in nature.

These are costs resulting from a management decision.

This pricing strategy involves assessing various cost and adding a standard percentage above the total cost, which will serve as profit.

Which of these represents the overhead considerations based on floor area?

Which of these represents the distribution of manufacturing overheads based on direct materials?

RMB Corporation desires to determine the gross margin associated with their production using marginal and absorption costing. The operating statistics of the company were as follows: Total units produced – 17,000 units Direct Materials – P15 Total units sold – 9,000 units Direct Wages – P15 Selling price per unit – P200 Variable Overhead – P15 Total Fixed overheads – P70,000 Fixed Overhead – P17 Determine the opening and closing stock using marginal costing.

It pertains to the price point that allows supply to reasonably serve the potential customers.

Which of the following describe a premium-price company?

The ABC system feature involves overhead costs, which can be identified easily.

Which statement describes project-based pricing?

Analyze the following questions: Statement I: Support activities include scheduled production. Statement II: Production process activities include assembled products.

This assumption of break-even analysis represents the relationship between the contribution and selling price of a product in terms of percentage.

This is the difference between the selling price of a product or service and its marginal cost.

Which of the following is a feature of job costing?

This pricing model involves a consumer buying a card or loading up a complimentary card with a certain amount of money and then drawing the balance down with each purchase.

This refers to the cost procedure used for determining the cost per unit of functions rendered.

These costs are not inventoriable and are immediately charged against revenue.

Which group of items represent monetary benefits?

Which group of items represent variable costs?

Which of the following describe a low-price company?

Which of the following represents the overhead considerations based on floor area?

It refers to the expenditure which results in the acquisition of an asset.

This is the difference between the sales value and the marginal cost of particular transactions.

Which group of items represent fixed costs?

This pricing model is also called "name your price."

Which of the following gives the main objective of job costing?

Analyze the following statements: Statement I: There will be a decrease in carrying cost because of the decline in set-up costs. Statement II: Set-up cost is incurred irrespective of the size of the batch.

This product expenditure covers credit back programs of sellers to induce additional sales.

It denotes the number of products or services the market can provide.

Analyze the following questions: Statement I: In output unit-level costs, the cost of activities decreases in proportion to the volume of production or sales. Statement II: Facility-sustaining costs support the entire activities of an organization.

This is the accumulated total of all costs used to create a product or service, which has already been sold.

It exists when unsold goods pile up in warehouses, factory lots, or resellers.

It exists when customers try to take advantage of the new balance of power or when competitors start undercutting each other.

This is the amount of money equivalent to a sold product or service.

This pricing strategy involves setting the price of a product or service at a level, which will yield an expected return on investment.

This classification of overhead comprises the indirect expenses incurred for making appearance products available to customers.

Which statement describes "step" costs?

Which of the following is a feature of unit costing?

This pricing strategy involves building a profit margin directly into the price of a product or service.

It refers to the ongoing business expenses not including or related to direct labor or direct materials.

This inventory valuation method assumes that goods are sold or used in the same chronological order in which they are bought.

Analyze the following questions: Statement I: The overhead cost pool is traced by identifying the activities. Statement II: Using pool rates to compute overhead rates is the first stage in the ABC system.

Star Belly are sold at a price of P1,499 per piece with a variable cost of P550. The fixed expense of the business is P150,000 per year. Compute for the profit- volume (P/V) ratio.

These costs are part of the inventory and are charged against revenue.

This pricing model is the modern term fora lump-sum price.

A manufacturing organization is interested in knowing the cost per unit of its product while a service firm desires to determine the cost of its rendered services which aspect of cost assessment is demonstrated?

It is the additional cost incurred for the production of an additional unit of output.

Analyze the following statements: Statement I: In job costing, work is undertaken to customer's specific requirements on the basis of orders. Statement II: Job costing is supposed to determine the cost of production of every order.

These are events, tasks, or units of work with a special purpose.

Which group of items represent deferred monetary benefits?

The level of cost hierarchy cannot be traced to individual products.

This is also known as storage costs, which consist of the interest on capital, defective work, storage loss, obsolescence, and premium, among others.

Mangga Bags employs two (2) production processes relevant to their bag making, which are cutting and sewing. In June 201B, the company produces 20,000 pieces of tote bags. The management of the company wants to determine the product cost per bag for each stage of their manufacturing process. Compute for the total cost of sewing process. Operating Expense Amount Materials purchased P200,000 Maintenance of materials 40,000 Sewing supplies 67,000 Labor expense in sewing 55,000 Normal spoilage (rejects) 8,000

This pricing model eliminates the seller's risk of non-payment and the buyer's risk of exceeding his budget.

It exists when the sales force gets pushed harder and harder to sell more units while customer buying resistance grows.

Which of the following describe a high-price company?

Which of the following is the pricing model used by Netflix?

This inventory valuation method involves recalculating each inventory item after every purchase.

Which statement describes rate-based pricing?

It is the increase in portion related to cost and selling price.

This classification of overhead comprises indirect expenses incurred concerning the management of an organization.

Mangga Bags employs two (2) production processes relevant to their bag making, which are cutting and sewing. In June 201B, the company produces 20,000 pieces of tote bags. The management of the company wants to determine the product cost per bag for each stage of their manufacturing process. What is the net volume of production given the following data? Operating Expense Amount Materials purchased P200,000 Maintenance of materials 40,000 Sewing supplies 67,000 Labor expense in sewing 55,000 Normal spoilage (rejects) 8,000

It exists when a company's production capacity and employees are underutilized, resulting in job cuts or wage cuts.

This is the overall cost of producing a unit of output, which includes direct materials, direct labor, and overheads.

In this pricing model, the seller is entirely at the buyer's mercy.

This objective of cost-volume-profit (CVP) analysis assists in framing pricing policies.

This type of cost is based on past experiences, budgeted amounts, and industry averages.

It states that successful high-priced companies are hesitant to offer promotions.

Walmart minimizes the costs associated with marketing and production of their products to keep the prices relatively low. Which pricing strategy is demonstrated?

This is the method used to determine the cost of products at each operation.

Which of the following is an example of high-price company?

These are activities used as cost drivers in computing overhead prices.

This involves the appropriate reallocation of the total cost to the various materials that share a common costing.

These are the cost of keeping the materials for buffer use or holding.

This objective of cost-volume-profit (CVP) analysis helps in evaluating the relationship among profits, costs, and volume to predict expected income.

Walmart minimizes the costs associated with its marketing and production activities to keep the prices of its products relatively low. Which pricing strategy is demonstrated?

Which statement describes premium pricing?

This objective of cost-volume-profit (CVP) analysis assists in evaluating profit and cost incurred.

This type of cost can be influenced by a supervisor or manager for a given period.

Which of the following describes cost classification?

This pricing model is also called metered services.

It means a collapse in demand.

This objective of cost-volume-profit (CVP) analysis is essential in estimating revenue or loss at different activity levels.

This pricing model combines the words "free" and "premium." In this price strategy, a customer can either get a basic version of a service for free or purchase a premium version of the service.

This consideration assembles a pricing group bases on business segment, customer type, region, etc.

This pricing model lets the buyer determine the price of a product or service, but the seller is obligated to accept whatever price the buyer is willing to pay.

The decrease in value of a product's original retail price and its actual selling price.

It pertains to the cost which remain constant per unit