13. If, instead of ABC, Ernie Ltd used an absorption costing system based on a single machine hour overhead absorption rate, the production cost of one square metre of shelving would be: a) 5.15 b) 3.28 4.64 d) 5.48 14. Which of the following costs is relevant in decision-making? a) Committed costs b) Cash costs c) Accounting costs d) Historical costs 15. An opportunity cost is the cost of a) Lost business b) Unplanned new business c) The next best alternative course of action d) Obtaining new business opportunities