A cost received by a subsequent process from a prior process is referred to as a: a. cost of goods sold. b. cost of ending work in process. c. transferred-in cost. d. cost of beginning work in process.

On a cost-volume-profit graph, a firm earns a profit where the total revenue line is:

a. above the total cost line.

b. above the total fixed cost line.

c. below the contribution margin line.

d. below the total cost line.

If actual sales equal the break-even sales: a. the margin of safety is negative. b. the margin of safety equals zero. c. the margin of safety is positive. d. it is impossible to say anything about the margin of safety.

Future costs that differ across alternatives and are very important for decision making are called:

a. sunk costs.

b. product costs.

c. variable costs.

d. segment costs.

e. relevant costs.