Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".) Possible terms:Activity-Based CostingAppraisal or Inspection CostsBatch-Level ActivitiesExternal Failure CostsFacility-Level ActivitiesJust-in-Time SystemNone of These are CorrectPrevention CostsUnit-Level ActivitiesValue ChainValue-Added Activity DefinitionTermA. Activities that are performed to benefit the organization as a whole.B. Activities that are independent of the of the number of units, but are performed for a group all at once.C. Activities that vary in direct proportion to the number of units produced or customers served.D. An activity, which if eliminated, would not change the perceived worth of the product or service.E. An activity, which if eliminated, would change the perceived worth of the product or service.F. A demand-pull system.G. A demand-push system.H. A report that provides details about internal failure costs.1. Costs incurred to keep quality problems from happening.J. Costs incurred to identify defective products before they get to customers.K. Costs that result from the defects caught during the inspection process.L. Warranty costs, recalls, and product replacement costs.A linked set of activities required to design, develop, produce, market, deliver the product to customers, andM.aftermarket service.N. A process that involves analyzing the feasibility of a product to meet a projected life cycle cost.A method that identifies the major activities that place demands on a company's resources and then assigns indirectO.costs to the products/services that create those demands.

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Answered: Possible terms: Activity-Based Costing…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".)

Possible terms:

Activity-Based Costing

Appraisal or Inspection Costs

Batch-Level Activities

External Failure Costs

Facility-Level Activities

Just-in-Time System

None of These are Correct

Prevention Costs

Unit-Level Activities

Value Chain

Value-Added Activity

Definition
Term
A. Activities that are performed to benefit the organization as a whole.
B. Activities that are independent of the of the number of units, but are performed for a group all at once.
C. Activities that vary in direct proportion to the number of units produced or customers served.
D. An activity, which if eliminated, would not change the perceived worth of the product or service.
E. An activity, which if eliminated, would change the perceived worth of the product or service.
F. A demand-pull system.
G. A demand-push system.
H. A report that provides details about internal failure costs.
1. Costs incurred to keep quality problems from happening.
J. Costs incurred to identify defective products before they get to customers.
K. Costs that result from the defects caught during the inspection process.
L. Warranty costs, recalls, and product replacement costs.
A linked set of activities required to design, develop, produce, market, deliver the product to customers, and
M.
aftermarket service.
N. A process that involves analyzing the feasibility of a product to meet a projected life cycle cost.
A method that identifies the major activities that place demands on a company's resources and then assigns indirect
O.
costs to the products/services that create those demands.

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