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prime cost fixed cost inventoriable cost period cost indirect cost conversion cost variable cost relevant...

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Accounting

prime cost

fixed cost

inventoriable cost

period cost

indirect cost

conversion cost

variable cost

relevant cost

1. _______are incurred during the process of transforming direct materials into finished goods ready for sale.
2. A _______ remains unchanged for a given time period, despite wide changes in the related level of total activity or volume of output.
3. _______ are all costs of a product that are considered as assets on the statement of financial position when they are incurred.
4. _______ are all direct manufacturing costs.
5. _______ are all costs in the statement of profit and loss other than cost of goods sold.
6. A _______ changes in proportion to changes in the related level of total activity or volume.
7. _______ of a cost object are related to the particular cost object but cannot be traced to it in an economically feasible (cost-effective) way.
8. _______ information is cost information that will change a decision. It is needed to identify and remedy different cost-management problems.

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