HCML 320 - Quiz 5 with verified answers
graded A+
Cost accounting is defined as the - correct answer ✔✔analysis of costs
Methods of classifying costs include classification by - correct answer ✔✔All of
the above
What are sunk costs? - correct answer ✔✔Costs that have already been incurred
Direct apportionment involves - correct answer ✔✔a onetime allocation of all
costs from non-revenue-generating departments to revenue-generating
departments.
Methods of assembling costs include - correct answer ✔✔All of the above
What is a relative value unit (RVU)? - correct answer ✔✔A measure of the
resources consumed by a product
Activity-based costing uses _______ to assign indirect costs. - correct answer
✔✔cost drivers
Expressed as a dollar amount, the breakeven point is the point at which - correct
answer ✔✔total costs equal total revenue.
graded A+
Cost accounting is defined as the - correct answer ✔✔analysis of costs
Methods of classifying costs include classification by - correct answer ✔✔All of
the above
What are sunk costs? - correct answer ✔✔Costs that have already been incurred
Direct apportionment involves - correct answer ✔✔a onetime allocation of all
costs from non-revenue-generating departments to revenue-generating
departments.
Methods of assembling costs include - correct answer ✔✔All of the above
What is a relative value unit (RVU)? - correct answer ✔✔A measure of the
resources consumed by a product
Activity-based costing uses _______ to assign indirect costs. - correct answer
✔✔cost drivers
Expressed as a dollar amount, the breakeven point is the point at which - correct
answer ✔✔total costs equal total revenue.
