Which One of the Following Is One of the Components

question 108

Multiple Choice

Which one of the following is one of the components of cost accounting?

• A)It requires GAAP to be applied.
• B)It requires cost minimizing principles.
• C)It involves measuring product costs.
• D)It involves the determination of company profits.

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Definitions:

Prime Cost

The direct costs of manufacturing a product, which include the raw materials and direct labor expenses.

Plant Janitor's Wages

The wages paid to janitorial staff within a manufacturing plant, considered part of factory overhead costs.

Machine Operator Wages

Compensation paid to workers who operate machinery as part of the manufacturing process.

Product Costs

Expenses directly associated with the production of goods, including materials, labor, and factory overhead.