Match each of the six following terms with the phrase that most closely describe
ID: 2364313 • Letter: M
Question
Match each of the six following terms with the phrase that most closely describes it. Each answer may be used only once. _____ 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. (Points : 6)Explanation / Answer
Direct Cost B
Fixed Cost J
Incremental Cost D
Enterprise Resource Planning system K
Noncontrollable cost F
Opportunity Cost H