Use the Following to Answer Questions

question 38

Multiple Choice

Use the following to answer questions
Gillette razors were first manufactured in 1895.Over the years, Gillette made improvements on their razors offering many 'firsts', such as the Mach3, the Sensor, and the Fusion.For many years, women were forced to use razors designed primarily for men but often marketed to women by offering them in different colours and with minimal modifications.In 1998, Gillette developed the Venus razor, based on the Mach3 but made specifically for women.Gillette promoted the Venus razor heavily, with ads on television and in other forms of media.The Gillette product line, now owned by Procter & Gamble, continues to introduce new versions of the Venus, such as the Venus Embrace, which has additional blades and other modifications.
-Razors fall into which classification of consumer products?

• A)Convenience products
• B)Shopping products
• C)Substitute products
• D)Specialty products
• E)Accessory equipment

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Definitions:

Variable Costing

An accounting method that only includes variable costs (costs that change with production levels) in product costs.

Fixed Costs

Expenses that do not change regardless of the level of production or sales, such as rent, salaries, and insurance.

Cost Control

A process of managing and regulating the expenses of operating a business to maximise profitability.

Traditional Income Statement

A traditional income statement is a financial document that reports a company's financial performance over a specific period, showing revenues minus expenses to reveal net income or net loss.