Luke Works as a Marketing Researcher and Goes Online to Obtain

question 24

Multiple Choice

Luke works as a marketing researcher and goes online to obtain information from government publications for census data and demographics.What type of data is Luke researching?

• A) Internal data
• B) Secondary data
• C) Peripheral data
• D) Primary data

Identify activities classified as back office in service organizations.

Classify types of service organizations (e.g., car hire companies, auto repairers).

Identify characteristics of service organizations including intangible outputs, inventory levels, and labour costs.

Differentiate between various costing methods applicable to service entities (job costing, process costing, activity-based costing).

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Definitions:

Marginal Cost

The expenditure involved in creating an additional product unit.

Total Variable Cost

The sum of all costs that vary with the level of output, including costs like raw materials and direct labor.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the quantity of output, representing the cost per unit including all expenses.

Average Variable Cost

The unit variable cost, determined by dividing the total variable expenses by the amount of output generated.