(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
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Indirect costs cannot be traced to a particular cost object in an economically feasible way.
Assigning indirect costs is easier than assigning direct costs.
Work-in-process inventory are goods partially worked on but not yet completed
Opportunity cost influences the make or buy decision to the company
A cost object is anything for which a cost measurement is desired
A company can incur a cost without it being recorded in the accounting system.
Cost Tracing the assignment of direct costs to the chosen cost object
Administrative salaries is a fixed cost for an automobile manufacturing plant
Overtime premium is normally considered as a component of indirect labor
Manufacturing overhead costs are also referred to as indirect manufacturing costs
if the volume of sales increases (within a relevant range) total variable cost decrease
Fixed cost per unit falls with an increase in production volume
A cost may be direct for one cost object and indirect for another cost object.
if the volume of sales increases (within a relevant range) total fixed cost decrease
Indirect costs are always allocated.
if the volume of sales increases (within a relevant range) total fixed cost increase
Wood used to manufacture chairs is considered a direct variable cost when the cost object is the chair
if the volume of sales increases (within a relevant range) total variable cost increases
Because of a cost-benefit tradeoff, some direct costs may be treated as indirect costs.
Marketing cots is included in product cost for pricing and product-mix decisions
Rework labor time is considered an overhead cost and not a direct labor cost
Cost behavior refers to how costs react to a change in the level of activity
Indirect manufacturing cost may include both variable and fixed
The smaller the amount of a cost the more likely it is economically feasible to trace it to a particular cost object
Inventoriable costs become expensed (cost of goods sold) when goods are sold.
Electricity expenses is a variable cost for an insurance company
Period costs are expensed as incurred and are not part of inventory costs.
The income statement of a service-sector firm reports period costs only
Department stores, ie. Macy's and Khols, are examples of a merchandising company
