Conversion costs do NOT include

Expired costs used up in the generation of revenues are called __________ .

For beginning work-in-process category using FIFO, the manufacturing cost is the sum of the current-period __________ and the current __________ to complete the BWIP.

Companies using JIT manufacturing do not use __________ inventories for their process costing.

Define activity-based management. In your answer, present the activity-based management model in good form.

Andover,, Inc., has two producing departments. Each producing department is held responsible for a share of the costs of a support department. Actual and budgeted data are as follows: ​ Support department hours used:       Department L 12,000     Department M  4,000         Total hours 16,000     Support department costs:       Actual support department costs $48,000     Budgeted fixed department costs $20,000     Budgeted variable rate per hour $    2.50 ​ Normal support department usage is 8,000 hours each for Department L and Department M. Assuming the direct method is used and the purpose is product costing, support department costs allocated to Department L are

An activity-based costing system uses which of the following procedures?

Costs can display variable, fixed, or mixed behavior, and it important that they are classified accurately.

Costs necessary to market and distribute a product or service are often referred to as order- __________ and order- __________ costs.

Give some examples of reporting feedback that will assist in continuous improvement of a service industry company.