The three most common cost behavior classifications are

	variable costs, period costs, and differential costs
	fixed costs, variable costs, and mixed costs
	variable costs, sunk costs, and opportunity costs
	variable costs, product costs, and sunk costs

Under variable costing, which of the following costs would not be included in finished goods inventory?

	fixed factory overhead cost
	direct materials cost
	variable factory overhead cost
	direct labor cost

If budgeted beginning inventory is $8,000, budgeted ending inventory is $9,400, and budgeted cost of goods sold is $10,260, budgeted production should be

	$1,400
	$11,550
	$9,600
	$11,660

Principal components of a master budget include

	sales budget
	all of these
	capital expenditures budget
	production budget

Standard costs are divided into which of the following components?

	variance standard and quantity standard
	quality standard and quantity standard
	materials standard and labor standard
	price standard and quantity standard