Matching
Match each of the following terms with the best definition given.
Premises:
Normal selling price
Variable cost concept
Setup
Engineering Change Order
Total cost concept
Responses:
Changing tooling when preparing for a new product.
Target selling price to be achieved in the long term.
Includes manufacturing cost plus selling and administrative expenses.
Variable manufacturing costs plus variable selling and administrative costs are included in cost per unit.
A document that initiates a product or process change.
Correct Answer:
Premises:
Responses:
Variable cost concept
Variable manufacturing costs plus variable selling and administrative costs are included in cost per unit.
Normal selling price
Target selling price to be achieved in the long term.
Setup
Changing tooling when preparing for a new product.
Total cost concept
Includes manufacturing cost plus selling and administrative expenses.
Engineering Change Order
A document that initiates a product or process change.
Premises:
Variable cost concept
Normal selling price
Setup
Total cost concept
Engineering Change Order
Responses:
Variable manufacturing costs plus variable selling and administrative costs are included in cost per unit.
Target selling price to be achieved in the long term.
Changing tooling when preparing for a new product.
Includes manufacturing cost plus selling and administrative expenses.
A document that initiates a product or process change.
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