Select the Appropriate Definition for Each of the Items Listed

question 106

Multiple Choice

Select the appropriate definition for each of the items listed below.
-A cost that can be easily traced to a cost object

• A)period cost
• B)direct cost
• C)opportunity cost
• D)variable cost
• E)indirect cost
• F)fixed cost
• G)product cost

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Definitions:

L.L.Bean

An American retail company that specializes in clothing and outdoor recreation equipment.

Exponentially Distributed

describes a continuous probability distribution often used to model the time between independent events that happen at a constant average rate.

Standard Deviation

A measure of the dispersion or spread of a set of numbers, indicating how much each number differs from the mean.

Mean

The average of a set of numbers, calculated by dividing the sum of all the values by the number of values.