Indications That a Product Cost System Needs Revision Include

question 36

Multiple Choice

Indications that a product cost system needs revision include

• A)the product line consists of a products which are produced at different locations.
• B)the product costing computer system does not use the latest technology.
• C)the company uses a single allocation base system developed long ago.
• D)prime cost represent the vast majority of product cost.
• E)managers lose bids they expected to win and win bids they expected to lose.

Understand the conditions for a firm to continue or cease production in the short run.

Distinguish between short-run and long-run decisions in competitive markets.

Recognize the characteristics and implications of being in a perfectly competitive market.

Grasp the concept of maximizing profits through marginal analysis in competitive markets.

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