1.     Another name for inventoriable costs is product costs

2.     Anything for which management wants to accumulate or collect costs is known as a cost object

3.     As production increases what does variable cost do on a per-unit basis remains constant

4.     The assumed range of activity that reflects the company's normal operating range is referred to as the relevant range

5.     Costs incurred for monitoring or inspecting products are known as appraisal costs

6.     Costs that are incurred to improve quality by precluding defects and improper processing are referred to as prevention costs

7.     Costs that can be conveniently traced to a cost object are referred to as direct costs

8.     Costs that cannot be conveniently trace to a cost object are known as indirect costs

9.     Costs that result from defective units, product returns, and complaints are referred to as failure costs

10. A cost that has both fixed and variable components is known as a mixed cost

11. A cost that remains constant on a per unit basis within the relevant range is a variable cost

12. A cost that remains unchanged in total within the relevant range is known as a fixed cost

13. A cost that shifts upward or downward when activity changes by a certain interval is referred to as a step cost

14. A cost that varies in total in direct proportion to changes in activity is known as a variable cost

15. A cost that varies inversely with the level of production is known as a fixed cost

16. A cost the shifts upward or downward when activity changes by a certain interval is referred to as a step cost

17. Distribution costs are an example of period costs

18. If the cost of an additive is $5,000 _ $0.50 for every unit of solvent produced, the cost is classified as a mixed cost

19. The portion of an asset that was consumed during a period is referred to as an expired cost

20. A predictor which has an absolute cause and effect relationship to a cost is referred to as a cost driver

21. The term 'relevant range' as used in cost accounting means the range over which cost relationships are valid

22. The three stages of production for a manufacturing firm are raw materials, WIP, finished goods

23. What type of cost is an effective cost driver: variable cost

24. What type of relationship is there between prevention costs and failure costs: inverse

25. Where are unexpired costs reflected? balance sheet