Estimating costs requires information • analysis, interpretation, decision-making • measurement, creation of data, negotiation • utilization, historical trends, fixed costs • projection, estimation, monitoring Cost structures are used by managers in __________. Group of answer choices planning, control, decision making activity-based costing, relative value unit method, variable cost rating estimating, forecasting, projecting allocating, averaging costs, performance testing Costs that are unique to a particular department, and would disappear if the department was abolished are known as ____. Group of answer choices indirect costs fixed costs direct costs variable As a manager you must consider _______. Group of answer choices benefits vs. costs benefits vs. overhead benefits vs. cost drivers benefits vs. time Even though fixed costs remain the constant, total costs will _______. Group of answer choices vary based on total fixed costs never vary vary based on volume always be more than estimated Costs that are shared across an organization are ______. Group of answer choices indirect costs variable costs direct costs fixed costs A cost driver is ________. Group of answer choices the basis for allocating variable costs the basis for determining overhead the basis for determining fixed costs the basis for allocating a cost pool At which level is it important for managers to understand costs? Group of answer choices cost containment level overall level micro level macro level The assignment of overhead costs, from one department to another is known as ______. Group of answer choices cost containment cost centering cost allocation cost of debt Understanding costs at a micro level allows managers to _______. (Select all that apply) Group of answer choices forecast future overhead with accuracy prepare budgets that are precisely accurate focus on cost containment determine percentages of cost of living raises for employees allocate money for bonuses make better decisions when negoatiating contract
Estimating costs requires information • analysis, interpretation, decision-making • measurement, creation of data, negotiation • utilization, historical trends, fixed costs • projection, estimation, monitoring Cost structures are used by managers in __________. Group of answer choices planning, control, decision making activity-based costing, relative value unit method, variable cost rating estimating,
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