A cost that has previously been incurred and can not be recovered by choosing one alternative over another is a(n): allocated cost fixed cost opportunity cost sunk cost avoidable cost

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Q: decision making purposes, relevant costs are: a. variable past costs b. all fixed and variable…

A: Relevant cost is the cost which are relevant in decision making process. Sunk cost are the cost…

Q: Sunk costs should always be included when considering the cost of an activity. True or false, and…

A: Sunk cost are those cost which are already incurred by the business , But business cannot recovered…

Q: Is corrective action always necessary when actual costs are higher than standard costs

A: A company which manufactures products and goods keeps a sharp eye on its costs. When the actual cost…

Q: Indirect costs are known as: (a)  Avoidable costs (b)  Overheads (c)  Incremental costs (d)…

A: 1) Indirect costs means costs which are not directly related to cost of production. Indirect costs…

Q: Any cost that is avoidable is relevant for decision purposes. O A. True O B. False

A: Relevant costs are those costs that are affected by the specific management decision being…

Q: Given the following, the only item that will generally be included in relevant cost analysis is:…

A: Introduction:   The phrase "relevant cost" in managerial accounting refers to avoidable costs that…

Q: For a cost to be relevant to decision-making, it must be:

A: Relevant costs are critical in cost analysis and decision-making because they give a clear picture…

Q: What is the difference between a direct cost and an opportunity cost.  Can you show the difference…

A: Direct cost and opportunity cost are two types of costs used in cost accounting.

Q: What are the challenges of using the incremental cost allocation method when allocating common costs…

A: Cost Allocation Method:   The cost allocation method is the method by which the costs to be assigned…

Q: The total cost of a cost object can only include the direct costs that are directly traced to that…

A: The total cost of a cost object includes both costs i.e costs that are directly traced and…

Q: A sunk cost can be described as which of the following?     A historical cost     Cannot be…

A: Sunk Cost: The sunk cost is the historical cost that already has been incurred previously, which is…

Q: Select all of the following that are the same as a relevant cost: unavoidable cost Oavoidable cost…

A: Relevant cost is a cost that is specifically relevant to a particular decision being made. It is a…

Q: n a decision analysis situation, which one of the following costs is generally not relevant to the…

A: Decision making is the process used to choose one of the various available alternatives. Examples of…

Q: Opportunity costs are always: Multiple Cholce sunk costs. relevant costs. fixed costs. varlable…

A: Sunk Cost - It is a cost that has already been spend , and cannot be recovered back  .  Relevant…

Q: What costs are assigned to a segment under the contribution approach? Distinguish between a…

A: The first part of the question is asking about the costs that are assigned to a segment under the…

Q: What are: Relevant / irrelevant / Differential Costs Relevant / irrelevant / Differential Revenues…

A: Relevant / Irrelevant / Differential Costs: Relevant Costs are the cost which are relevant in…

Q: Which of the following cost behaviors cannot be accurately represented by a single straight line? A.…

A: Cost behaviours break down into four expense classifications as follows…

Q: In incremental analysis, only relevant costs are considered when making a decision among…

A: These are the cost that are specific, pertinent and relevant to a particular decision making of…

Q: he term that refers to costs incurred in the past that are not relevant to a decision is: Multiple…

A: Cost Accounting is a process of identification, classification, measurement, and assignment of costs…