e1 (Chapters 2-3) Open with Matching Match each cost term with its proper meaning 1) Manufacturing overhead a) executive, organizational, and clerical costs costs 2) Selling costs b) beginning inventory+purchases-ending inventory 3) Administrative costs c) costs involved in acquiring or making a product 4) Direct cost d) an increase in costs between two alternatives e) cost easily and conveniently traced to a specified cost object ) changes in direct proportion to changes in activity (constant per g) cost incurred and unchangeable by any future decision or event h) taken directly to the income statement when incurred i) potential benefit given up when one alternative is selected over 5) Opportunity cost 6) Sunk costs unit) 7) Product costs 8) Period costs 9) Fixed cost another 10) Costs of goods sold ) remains constant through changes in activity within the relevant range Page 1 3Q + 11) Variable cost s and deliver goods or services e 1 (Chapters 2-3) 10) Costs of goods sold 11) Variable cost 2) Differential costI Open with t through changes in activity within the relevant range k) incurred to secure customer orders and deliver goods or services I) manufacturing costs- direct materials direct labor Fill in the Blank Specify whether each of the above accounts would appear on the balance sheet or on the income statement at the year end. Raw Materials Inventory Work in Process Inventory- Finished Goods Inventory Cost of Goods Sold- Selling Expense- Page 1 /3-+