For Each Item Listed, Select the Appropriate Purpose of Cost

question 122

Short Answer

For each item listed, select the appropriate purpose of cost allocation from the list below.A purpose may be used more than once.
A)To provide information for economic decisions
B)To motivate managers and other employees
C)To measure income and assets for reports to external parties
D)To justify costs or compute reimbursement amounts
-To decide on an appropriate selling price for a special-order product

• A)To provide information for economic decisions
• B)To motivate managers and other employees
• C)To measure income and assets for reports to external parties
• D)To justify costs or compute reimbursement amounts
• -To decide on an appropriate selling price for a special-order product

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Definitions:

Standard Error

A statistical measure that quantifies the accuracy with which a sample distribution represents a population by describing the dispersion of sample means around the population mean.

Population Standard Deviation

A measure of the dispersion of a population’s values from the mean, indicating how spread out the data points are.

Sample Size

The number of observations or elements selected from a population to study certain characteristics.

Standard Error

A statistical measure that estimates the accuracy with which a sample distribution represents a population, often used in the calculation of confidence intervals.