ACC206
Fixed costs can further be classified into committed and discretionary fixed costs
Fixed costs are sometimes referred to as period costs
In some circumstances, variable costs are classified into
discretionary and engineered
WAM means
Weighted average method
Relevant costs are costs that are
necessary for managerial decision making
Raw materials, WIP and finished goods are parts of
materials also referred to as stock/inventory
Avoidable costs are also referred to as
escapable costs
The method used to determine the value of finished goods is referred to as
costing technique
In organization for overhead control, production cost can be part of …..
overhead
Retail method of valuing stock is part of
none of the above
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