Costing | Baamboozle - Baamboozle | The Most Fun Classroom Games!

What is financial accounting?

Accounting where financial statements produced through financial accounting are designed to disclose the firm's business performance and financial health

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What are labor costs? and give one example

Labor- Wages and salaries paid to employees involved in manufacturing. For example a grass cutter for a landscaping company

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What is managerial accounting?

Accounting where there is the use of information that encourages strategic planning, helps them set realistic goals, and encourages an efficient directing o

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What is a fixed cost?

A fixed cost is a cost that does not change over the short-term, even if a business experiences changes in its sales volume or other activity levels.

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What are unit costs?

A unit cost is a total expenditure incurred by a company to produce, store, and sell one unit of a particular product or service.

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Which of the following is an example of an indirect expense? Water used in making orange juice, Flour used in baking pastries, electricity used powering a blender for seasoning

electricity used powering a blender for seasoning

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Give one reason why it is important to know the cost of something from the perspective of a business manager

to decisions -controlling expenditure - planning and budgeting for the future

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Which of the following is not an example of a direct cost? Metal used to produce cars, Wood used to make tables, cloth used to make sheets or paper used in the accounting department

Paper used in accounting department

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banana