A_____________ Accumulates and Reports Costs and Expenses That a Manager

question 63

Short Answer

A_____________ accumulates and reports costs and expenses that a manager is responsible for, including budgeted amounts.

---

Definitions:

Product Cost

The total expense incurred to produce and make ready for sale a product, including direct materials, labor, and overhead costs.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision.

Total Expected Cost

A projection of the total costs associated with a project or business activity, including both fixed and variable costs.

Variable Costs

Costs that vary depending on the amount of production or business operations.