Exam 30: Cost-Revenue Analysis for Decision Making

The inventory costing system not acceptable for financial reporting is ____________________ costing.

Which of the following would not be relevant to a decision about whether to continue making a part or whether to buy it from an outside supplier?

Opportunity costs are earnings or potential benefits foregone because a certain course of action is taken.

Under ____________________ costing procedures,fixed manufacturing costs are included in the cost of goods manufactured.