Comp Opp #3 - Cost Accounting

2. The ________ spiral is a situation that businesses might find themselves in when they price their products too high in relation to their costs, and thus the demand for the product decreases.
3. A disadvantage to this service allocation method, is that the results depend on the order in which the allocation is done.
5. A hybrid costing system that assigns uniform costs to all products and also assigns specific costs to unique projects or jobs.
9. The department allocation method uses a separate cost pool for each _______________.
11. What we allocate costs based on because they drive or cause the costs.
13. _______-order costing is a costing system that is usually used for more discrete, unique projects or jobs.
16. Costs of a manufacturing process that has two or more outputs.
18. A process costing method that separates the costs of beginning inventory and WIP, & assumes inventory started first is finished first.
19. Examples of these failure costs are warranty expenses, marketing costs, and lost sales.

1. The cost pool is the entire plant, when the __________________ allocation method is used.
4. ___________ costing is usually used for homogenous products, such as juice.
6. Activity Based Costing assigns costs to different _____________.
7. Failure costs associated with low quality or defective units that are identified before the product is sold.
8. These departments use the services from other departments within the organization.
10. Activity Based Costing is a _______ stage allocation method.
12. These departments provide services to other departments within an organization.
14. This method of allocating costs to other departments, recognizes that the costs provided by different departments are a two way street.
15. A process costing method that uses the costs of current costs in WIP and the beginning inventory and averages them.
17. The point of a production process where two products are separated.