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Questions and Answers
What is the main basis for product pricing according to the text?
What is the main basis for product pricing according to the text?
- Costing (correct)
- Admin
- Product marketing
- R&D
Which costs are included in prime costs?
Which costs are included in prime costs?
- Direct labor and total manufacturing overhead
- Direct materials and total manufacturing overhead
- Direct materials, direct labor, and total manufacturing overhead
- Direct materials and direct labor (correct)
What does activity-based costing aim to do?
What does activity-based costing aim to do?
- Allocate costs based on fixed and variable classifications
- Allocate costs based on responsibility
- Allocate costs based on product details
- Allocate costs based on activities performed (correct)
Which cost classification differentiates between variable and fixed costs?
Which cost classification differentiates between variable and fixed costs?
$ ext{WIP (Beg)} + ext{Direct Mat. (Beg)} + ext{Direct Mat. Purchases} - ext{Direct Mat. (End)} = ext{Direct Mat. Used} + ext{Fin Goods (Beg)} + ext{Direct labor incurred} + ext{Tot. Mfg.}$ What does this equation represent?
$ ext{WIP (Beg)} + ext{Direct Mat. (Beg)} + ext{Direct Mat. Purchases} - ext{Direct Mat. (End)} = ext{Direct Mat. Used} + ext{Fin Goods (Beg)} + ext{Direct labor incurred} + ext{Tot. Mfg.}$ What does this equation represent?
What is the main function of price in the marketing mix?
What is the main function of price in the marketing mix?
What is the definition of pricing according to the text?
What is the definition of pricing according to the text?
What is a profit-oriented pricing goal mentioned in the text?
What is a profit-oriented pricing goal mentioned in the text?
What is a sales-oriented pricing goal mentioned in the text?
What is a sales-oriented pricing goal mentioned in the text?
What is emphasized as the strategic importance of pricing in the text?
What is emphasized as the strategic importance of pricing in the text?
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