Hello, Please help me answer this. Thank you (WEEK 18 C.A) P.S This is a multiple choice but all the answer needs a JUSTIFICATION. 1. It is the recording of all the costs incurred in a business in a way that can be used to improve its management. A. Managerial Accounting B. Cost Accounting C. Financial Accounting D. None of the above 2. Is the system for assigning costs to an element of a business? A. Costing B. Analyzing C. Organizing D. Producing 3. Cost accounting is important for decision making of internal users. A. True B. FALSE 4. A business expense that fluctuates based on how much the organization produces or sells. A. Fixed cost B. Variable cost C. Mixed cost D. All of the above 5. A cost is one that does not vary as the quantity of goods or services produced or sold increases or decreases. A. Fixed cost B. Variable cost C. Mixed cost D. All of the above 6. The costs of producing a product are referred to as product cost. A. Period cost B. Product cost C. Operational cost D. Cost 7. All costs not included in product costs are referred to as period costs. A. Period cost B. Product cost C. Operational cost D. Cost 8. This cost is based on the most efficient utilization of labor and materials to create a good or service under normal operating conditions, and they are essentially the budgeted amount. A. Lean cost B. Standard cost C. Marginal cost D. Actual cost 9. It represents the true total and final costs accrued during the process of completing all work of production. a. Lean cost b. Standard cost c. Marginal cost d. Actual cost 10. It is a costing system that takes place when customers order small, unique batches of p A. Job-Order Costing B. Process Costing C. Mixed costing D. All of the above 11. In this cost system the costs incurred during production are charged to processes and average over the total units manufactured. A. Job-Order Costing B. Process Costing C. Mixed costing D. All of the above 12. Raw materials that physically become the finished product at the end of the manufacturing process A. Direct Labor B. Indirect Labor C. Direct Materials D. Indirect Materials 13. It refers to the salaries and wages paid to workers directly involved in the manufacture of a specific product or in performing a service. A. Direct Labor B. Indirect Labor C. Direct Materials D. Indirect Materials 14. All indirect costs incurred during the production process. This overhead is applied to the units produced within a reporting period. A. Direct Labor B. Direct material C. Manufacturing overhead D. Product cost 15. The process or activities by which a company adds value to an article, including production, marketing, and the provision of after-sales service. A. Cost assignment B. Value chain C. Cost chain D. Market chain