Assumptions underlying cost-volume-profit analysis include all the following, except:

a. Selling prices are to be unchanged.

b. Volume is the only relevant factor affecting cost.

c. All costs can be divided into fixed and variable elements.

d. Total costs are directly proportional to volume over the relevant range.

All of the following accounts will appear on a company's balance sheet except:

a. Work-in-Process.

b. Cost of Goods Sold.

c. Raw Materials.

d. Finished Goods.