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

_____ 5) Opportunity cost e) cost easily and conveniently traced to a specified cost object

_____ 6) Sunk costs f) changes in direct proportion to changes in activity (constant per unit)

_____ 7) Product costs g) cost incurred and unchangeable by any future decision or event

_____ 8) Period costs h) taken directly to the income statement when incurred

_____ 9) Fixed cost i) potential benefit given up when one alternative is selected over another

_____ 10) Costs of goods sold j) remains constant through changes in activity within the relevant range

_____ 11) Variable cost k) incurred to secure customer orders and deliver goods or services

_____ 12) Differential cost l) manufacturing costs direct materials direct labor =