What Cost Concept Used in Applying the Cost-Plus Approach to Product

question 101

Multiple Choice

What cost concept used in applying the cost-plus approach to product pricing covers selling expenses, administrative expenses, and desired profit in the markup?

• A) total cost concept
• B) product cost concept
• C) variable cost concept
• D) sunk cost concept

---

Definitions:

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, transforming economies from primarily agrarian societies into industrialized nations.

Social Era

Describes the period characterized by the widespread use and influence of social media and networking platforms, impacting communication, business, and society.

Business Ethics

The study and examination of moral and ethical problems that may arise in a business environment.

Work Environment

The setting, conditions, and culture in which employees operate, significantly influencing their productivity and satisfaction.