Philippe Walks the Same Path Every Day at the Same

question 38

Multiple Choice

Philippe walks the same path every day at the same time. To state that he will most likely take the same route at the same time next Wednesday is using the nature of personality traits.

• A)descriptive
• B)explanatory
• C)individualistic
• D)predictive

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Definitions:

Variable Costing

An accounting method that only includes variable production costs—direct materials, direct labor, and variable manufacturing overhead—in product cost.

Unit Product Cost

Unit product cost is the total expense incurred to produce, assemble, and prepare a single unit for sale, encompassing both direct costs and allocated overheads.

Absorption Costing

An accounting method that includes both variable and fixed manufacturing costs in the cost of a product, used for external reporting.

Unit Product Cost

The combined sum of fixed and variable expenses incurred in the creation of one unit of a product.