When Determining the Necessity of Primary Data Collection, a Decision

question 11

Multiple Choice

When determining the necessity of primary data collection, a decision to determine the need for additional data and information should be based on a reevaluation and possible refinement of the assessment goals, an analysis of the findings from the existing data sources, and which of the following?

• A) Available resources to support future assessment activities
• B) A marketing study
• C) A follow-up survey after 2-3 years
• D) An analysis of the reasons for percentage gains or losses

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Definitions:

Unit Product Cost

Unit product cost is the total cost (including materials, labor, and overhead) divided by the total number of units produced, representing the cost per unit.

Activity-Based Costing

A costing methodology that assigns overhead and indirect costs to specific activities, providing more accurate product costing.

Unit Product Cost

The total expense incurred to produce, store, and sell one unit of a product.

Traditional Costing

A costing method that allocates overhead based on a single predetermined rate.