The 5w2h Questions Should Be Viewed in the Context of a Process

question 92

True/False

The 5w2h questions should be viewed in the context of a process.

Distinguish between different types of costs (direct materials, direct labor, factory overhead).

Recognize the role and preparation of managerial accounting reports for internal decision-making.

Calculate and understand conversion costs and prime costs.

Classify costs as product costs or period costs and understand their implications on financial statements.