Economies of Scale in a mass production environment refer to

a. standardization of workers tasks.

b. the Industrial Revolution.

c. the revolutionary production process using a moving assembly line.

d. lowering fixed cost per unit by overproduction.

Product costs under the variable costing method includes:

a. Direct materials cost, direct labor cost, but no factory overhead cost.

b. Direct materials cost, direct labor cost, and variable factory overhead cost.

c. Prime cost but not conversion cost.

d. Prime cost and all conversion cost.

. Capital budgeting is a process of ________.

a. tracing overhead costs to products by focusing on the activities that drive costs

b. assigning identified costs to specific cost objectives or cost centers

c. measuring an organization's operations, products, and services against those of competitors recognized as market leaders

d. making long-term planning decisions about investments in projects