Directions: Choose the Best Answer Based on the Information You

question 20

Multiple Choice

Directions: Choose the best answer based on the information you read in Chapter 14. ​ Identify the adverb: The waiter acted quickly when the soup spilled.

• A)soup
• B)waiter
• C)spilled
• D)quickly

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Definitions:

Opportunity Cost

The cost of forgone alternatives when one option is chosen over another.

Administrative Expense

Costs related to the general operation and administration of a business, including salaries of executive personnel, office supplies, and utilities.

Direct Labor Cost

The total cost of wages paid to labor directly involved in the production of goods or services.

Manufacturing Overhead Cost

Expenses related to manufacturing that are not directly tied to a specific product, such as factory rent and utilities.