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Accounting Fill in the Blanks

0. Managers determine product prices by adding to a cost amount a plus, called a
1. The amount of increase or decrease in revenue expected from a course of action as compared with an alternative is called
2. Costs that have been incurred in the past and are not relevant to a decision are known as
3. Raymond Tile Co. is considering discontinuing a segment of its business. The costs that may not be decreased by discontinuing it are the
4. In deciding whether to lease or sell a piece of equipment, a manager will consider the differential revenues and differential costs associated with the decision. These factors are known as
5. Clooney Manufacturing Co. is considering a decision to make Component 177 or buy it from Brooke Co. The relevant costs that must be determined in this decision are the
6. The amount of income that is forgone from an alternative use of cash is called
7. Belle Co. is deciding whether to sell one of its products at an intermediate stage of development or process it further. The decision will rest on differential revenues and the differential costs of
8. Michelle and Co. is considering doing additional business at a special price. The decision will be based on differential revenues versus differential costs of the
9. The markup percentage for the total cost concept is determined by dividing desired profit by
10-11. Using the product cost concept to price its product, Orlin Co. divided total manufacturing costs into the total of: (10 + 11)
12. The items covered in a markup based on the variable cost concept include desired profit and
13. The manufacturing strategy that focuses on reducing the influence of bottlenecks on a process is the
14. When the demand for the company's product exceeds its ability to produce the product, the resultant difficulty is referred to as a
15. A method of more accurately measuring costs of producing and selling product and focusing on identifying and tracing activities to specific products is known as


Solution Summary

Word file contains fill in the blank answers to accounting problems. Concepts covered include incurred costs, alternative use of cash and amount of income.