For What Reason Is a Product Cost Primarily Tracked

question 7

Multiple Choice

For what reason is a product cost primarily tracked?

• A)to keep up with current cost trends to bring products to market
• B)to effectively allocate the cost of products to measure profitability
• C)to determine what amounts are necessary for allocating overhead
• D)to keep management's bonuses increasing every year

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Definitions:

Function

A relationship or expression involving one or more variables, where each input value has exactly one output value.

Simplify

To reduce a mathematical expression or equation to its simplest form by performing operations and combining like terms.

Evaluate

To calculate the numerical value of an expression or determine the result of an equation.

Function

A function is a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output.