$16.$ Relevant costs are

A$)$ all fixed and variable costs

B$)$ past costs that are expected to be different in the future

C$)$ anticipated future costs that will differ among various alternatives

D$)$ all costs that would be incurred within the relevant range of production

Which of the following is a cost that requires a future outlay of cash that is relevant for future decision$-$making?

A$)$ Opportunity cost

B$)$ Out$-$of$-$pocket cost

C$)$ Relevant benefits

D$)$ Incremental revenue

Profits that are lost by moving an input from one use to another are referred to as

A$)$ Out$-$of$-$pocket costs.

B$)$ Cannibalization charges.

C$)$ Replacement costs.

D$)$ Opportunity costs.

Which of the following costs are always irrelevant in decision making?

A$)$ avoidable costs

B$)$ sunk costs

C$)$ opportunity costs

D$)$ fixed costs

In a joint manufacturing process, joint costs incurred prior to a decision as to whether to process the products after the split$-$off point

should be viewed as:

A$)$ Sunk costs.

B$)$ Relevant costs.

C$)$ Standard costs.

D$)$ Differential costs.

In joint$-$product costing and analysis, which one of the following costs is relevant when deciding the point at which a product should

be sold to maximize profits?

A$)$ B$)$ C$)$ D$)$ Joint costs to the split$-$off point.

Separable costs after the split$-$off point.

Sales salaries for the period when the units were produced.

Purchase costs of the materials required for the joint products.

How does a company determine whether to sell a product $$as is$$ or process it further?

A$)$ B$)$ C$)$ If the costs to process further exceed the costs of current production, the product should be sold $$as is$.$

If the costs to process further exceed the costs of current production, the product should be processed further.

If the increase in revenue from selling the product after further processing is greater than the additional costs incurred in further

processing, the company should opt for further processing.

D$)$ If the revenues generated by processing the product further exceed the revenues from selling the product $$as is$,$ the company

should process further.