Cost concepts

Question 1 of 10

Using the high-low method: at 1,000 units cost is GH¢7,000; at 1,500 units GH¢9,000. Variable cost per unit is

Question 2 of 10

A cost centre is

Question 3 of 10

A unit of product or service for which costs are collected is a

Question 4 of 10

Costs that change in total with the level of output are

Question 5 of 10

Opportunity cost in costing refers to

Question 6 of 10

Total cost is GH¢7,000 at 1,000 units and GH¢9,000 at 1,500 units. Using the high-low method, the fixed cost is

Question 7 of 10

A cost that stays the same in total but falls per unit as output rises is

Question 8 of 10

The three elements of cost are

Question 9 of 10

A cost unit is

Question 10 of 10

Indirect costs that cannot be traced to a specific product are