APSC 221 Chapter 1 Question and answers correctly solved 2024/2025
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Course
APSC 221
Institution
APSC 221
APSC 221 Chapter 1 Question and answers correctly solved 2024/2025 APSC 221 Chapter 1-6
Fixed cost - correct answer those unaffected by changes in activity level over a feasible range of operations for the capacity or capability available
Ex. Insurance, general management and administration ...
APSC 221 Chapter 1-6
Fixed cost - correct answer ✔those unaffected by changes in activity level
over a feasible range of operations for the capacity or capability available
Ex. Insurance, general management and administration salaries
disbursement - correct answer ✔money spent
receipt - correct answer ✔money recieved
Variable cost - correct answer ✔those associated with an operation that
varies in total with the quantity of output or other measures of activity level
Ex. Cost of material used
Incremental cost - correct answer ✔the additional cost (or revenue) that
results from increasing the output of the system by one (or more) units
Ex. Cost of adding another production line
Direct costs: - correct answer ✔costs that can be reasonably measured and
allocated to a specific output or work activity
Ex. Labour and material costs directly associated with a product
Indirect costs - correct answer ✔costs that are difficult to allocate to a
specific output or work activity
Ex. Cost of common tools, general supplies, equipment maintenance
Overhead - correct answer ✔plant operations costs that are not direct labour
or direct material costs
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