Match each of the six following terms with the phrase that most closely describe
ID: 2351351 • Letter: M
Question
Match each of the six following terms with the phrase that most closely describes it. Each answer may be used only onc(E)_____ 1. Economic Resource Planning system
_____ 2. Direct costs
_____ 3. Noncontrollable costs
_____ 4. Opportunity costs
_____ 5. Fixed costs
_____ 6. Incremental costs
(A) Costs that increase or decrease in total in response to increases or decreases in the level of business activity
(B) Costs that are directly traceable to a product, activity, or department
(C) Costs that a manager can influence
(D) The difference in costs between decision alternatives
(E) Costs incurred in the past that are not relevant to present decisions
(F) Costs that cannot be influenced by a manager
(G) Financial plans prepared by management accountants
(H) Value of the benefits foregone when one decision alternative is selected over another
(I) Costs that cannot be directly traced to a product, activity, or department or are not worth tracing
(J) Costs that do not change in total with changes in the level of business activity
(K) These systems prepare a master production systems and all the support across the company.
(L) Allows companies and suppliers to share information to improve efficiency in getting inputs.
(M) Allows customer data analysis and support, often in online format for customers.
Explanation / Answer
1 (E) Costs incurred in the past that are not relevant to present decisions 2 (K) These systems prepare a master production systems and all the support across the company. 3 (I) Costs that cannot be directly traced to a product, activity, or department or are not worth tracing 4 (D) The difference in costs between decision alternatives 5 (B) Costs that are directly traceable to a product, activity, or department 6 (M) Allows customer data analysis and support, often in online format for customers.