6. A mixed cost: A. Requires the future outlay of cash and is relevant for future decision making. B. Does not change with changes in the volume of activity within the relevant range. C. Is directly traceable to a cost object. D. Contains a combination of fixed costs and variable costs. E. Has already been incurred and cannot be avoided so it is irrelevant for decision making. 7. A fixed cost: A. Requires the future outlay of cash and is relevant for future decision making. B. Does not change with changes in the volume of activity within the relevant range. C. Is directly traceable to a cost object. D. Changes with changes in the volume of activity within the relevant range. E. Has already been incurred and cannot be avoided so it is irrelevant for decision making. 8. The three major cost components of a manufactured product are: A. Marketing, selling, and administrative costs. B. Indirect labor, indirect materials, and miscellaneous factory expenses. C. Direct materials, direct labor, and factory overhead. D. Differential costs, opportunity costs, and sunk costs. E. General, selling, and administrative costs. 9. Products that have been completed and are ready to be sold by the manufacturer are called: A. Finished goods inventory. B. Work-in-Process inventory C. Raw materials inventory D. Cost of goods sold. E. Factory supplies. 10. Products that are in the process of being manufactured but are not yet complete are called: A. Raw materials inventory. B. Conversion costs. D. Work-in-Process inventory. E. Finished goods inventory. C. Cost of goods sold. 11. A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's: A. Cost of goods sold. B. Cost of goods purchased. C. Cost of goods available. D. Beginning merchandise inventory. E. Ending merchandise inventory