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1. It is the classifying, recording, and appropriate allocation of expenditures for the determination of the costs of products.
A. Costing
B. Mark-down
C. Mark-up
D. Selling price
2. It is the difference between how much an item cost you.
A. Selling price
B. Mark-Up
C. Mark-down
D. Costing
3. It refers to the total cost of production divided by the number of units produced. It can also be obtained by summing the average variable costs and the average fixed costs.
A. Average Cost
B. Fixed Cost
C. Total cost
D. Variable Cost
4. It considers all the costs incurred in the production process or when offering a service.
A. Variable cost
B. Total cost
C. Fixed cost
D. Average cost
5. Refers to the total sum of money needed to produce a particular quantity of output.
A. Food cost percentage
B. selling price
C. Total cost
D. Unit cost
6. These are the expenses that do not change with the amount of output produced.
A. Variable cost
B. Total cost
C. Fixed cost
D. Average cost
7. It is a market value or agreed exchange value that enables a buyer to purchase goods or services
A. Average cost
B. Breakeven price
C. Fixed cost
D. Total cost
8. It is defined as the increase on the cost price
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