1. What costs are incurred when making a product? How are they recorded when incurred? 2. What inventory accounts are used by a manufacturer? In what financial statement will appear? 3. What is the basic difference between job order costing and process costing? 4. What is a fixed cost? A variable cost? A mixed cost? Give an example of each 5. What is a special order? How does operating capacity affect a special order? In what scenario would a special order be accepted? 6. With negotiated transfer pricing, what is the minimum transfer price if operating at capacity? What is the minimum transfer price if not at capacity? 1. What costs are incurred when making a product? How are they recorded when incurred? 2. What inventory accounts are used by a manufacturer? In what financial statement will appear? 3. What is the basic difference between job order costing and process costing? 4. What is a fixed cost? A variable cost? A mixed cost? Give an example of each 5. What is a special order? How does operating capacity affect a special order? In what scenario would a special order be accepted? 6. With negotiated transfer pricing, what is the minimum transfer price if operating at capacity? What is the minimum transfer price if not at capacity