1. Where a specific product is the cost object the materials used to manufacture the product would probably be classified as a(n) _____.a. direct variable costb. direct fixed costc. indirect variable costd. indirect fixed cost2. _____ is a name for a system that first accumulates overhead costs for each of the activities of an organization and then assigns the costs of activities to the products services or other cost objects that caused that activity. a. Activity based costing b. Cost driver accounting c. Transaction based accounting d. Transaction costing3. _____ is the process of measuring products services and activities against the best levels of performance.a. Value-addingb. Activity-based costingc. Benchmarkingd. Continuous improvement4. Couch Company can produce either product A or product B. If Couch Company produces product A expected direct material cost would be $24000. If Couch Company produces product B expected direct material cost would be $24000. In choosing between these alternatives the $24000 direct material cost is _____.a. relevant because it is an expected future costb. relevant because it is a product costc. irrelevant because it is an estimated costd. irrelevant because it does not differ between alternatives
