Identify the Treatment of Each of the Following Costs Under

question 62

Essay

Identify the treatment of each of the following costs under variable costing and absorption costing:
$$\begin{array} { | l | l | l | l | l | } \hline & \text { Variable Costing } & &\text { Absorption Costing } \\\hline & \text { Product Cost } & \text { Period Cost } & \text { Product Cost } & \text {Period Cost } \\\hline \text { 1. Direct materials } & & & & \\\hline \text { 2. Direct labor } & & & & \\\hline \text { 3. Variable manufacturing overhead } & & & & \\\hline \text { 4. Fixed manufacturing overhead } & & & & \\\hline \text { 5. Variable selling } & & & & \\\hline \text { 6. Fixed selling } & & & & \\\hline \text { 7. Variable administrative } & & & & \\\hline \text { 8. Fixed administrative } & & & & \\\hline\end{array}$$

Understand the role of strategic management principles in shaping organizational objectives and competitive scopes.

Describe the strategic planning process as dynamic and responsive to changes in the environment.

Identify and illustrate types of objectives (long-term, short-term, soft, hard) and their implications for organizational strategy.

Explain the significance of value propositions in determining customer targets and product/service differentiators.

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Definitions:

Copper Wire

A conductive wire made from copper, commonly used in electrical wiring due to its high conductivity and flexibility.

Rosin Core

A type of solder with a core of rosin flux, used in electrical soldering to improve the solder's adhesion and electrical conductivity.

Silver Solder

An alloy used in soldering that contains silver, providing stronger joints compared to traditional solder due to its higher melting point.

Fluorescent Lights

A type of lighting that utilizes a phosphor coating inside a glass tube to produce light when an electric current causes a gas in the tube to glow.