1. Distinguish between relevant and irrelevant costs.
2. In evaluating a cost reduction proposal, what three alternatives are available to management?
3. When are opportunity costs relevant to the evaluation of special order?
4. Identify some important qualitative considerations in evaluating a decision to make or buy a part.
5. What are the three major product cost elements?
6. How are predetermined overhead rates developed? Why are they widely used?
7. Briefly distinguish between process manufacturing and job order production. Provide examples of products typically produced under each system.

Please respond to all the questions. thank you