________ and ________ Are Product Costs That Can Be Directly

question 2

Essay

________ and ________ are product costs that can be directly traced to the product.

---

Definitions:

Budgeting

The process of creating a financial plan for a defined period, usually a year, which includes revenue forecasts and expense allocations.

Tenant-days

A measure used in the hospitality or real estate industry to calculate the total number of days all units were occupied by tenants.

Wages and Salaries

Payments made to employees for their services within a specific time period, including both hourly wages and fixed salaries.

Activity Variance

The difference between actual activity levels and planned or standard activity levels, often analyzed in budgeting and performance management.