ETS ;Business Exam Study Guide with all Possible Questions and Answers

ETS Business Exam Study Guide Accounting: What costs should be considered when making non-routine decisions? (3) The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? The difference between variable costs subtracted from sales Accounting: In a continuous budget plan how many months are generally planned? 12 months Accounting: Which of the following is not one of the weaknesses of standard costing It makes accounting for price increases more accurate Accounting: What are the potential ways to find the price of what a produced products should cost? (3) Product cost concept, total cost concept, and variable cost concept