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

What is an indirect cost?

An indirect cost cannot be directly attributable or traceable to a product or service.

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banana

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gift

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fairy

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baam

Lose 25 points!

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What is an example of a fixed cost?

Example Rent, Insurance or any flat charges that does not change with activity or production levels

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What is the formula used to find unit cost of production?

Total Cost of production/Number of units produced.

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boom

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shark

Other team loses 25 points!

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gift

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lifesaver

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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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What are material costs? and give one example of such cost

Materials costs are the tangible goods used in producing the product example using plastic to make water bottles

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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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lifesaver

Give 15 points!

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fairy

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gift

Win 25 points!

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banana

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What is a markup?

Markup pricing refers to a pricing strategy wherein the price of a product or service is determined by calculating the sum of the products and a percentage of i

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What is an example of a variable cost?

materials used in production, labor wages if they are based on change in production or activity etc.

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What is costing?

Costing is ascertaining the cost of a product or service and providing information to be used by management

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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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