Management accounts are frequently asked to analyze various decision situations including the following: 1) Alternative uses of factory space to be considered in a make versus buy decision. 2) Joint production costs incurred to be considered in a sell or process further decision. 3) Research and development costs incurred in previous months to be considered in a product line decision. 4) The cost of additional machinery that is required if a special order is accepted. 5) The cost of obsolete inventory acquired several years ago to be considered in a keep or disposal decision. The costs described in situations 1 and 4 are: Multiple Choice committed costs O prime costs relevant costs sunk costs conversion costs