(TCO 2) Match each of the six following terms with the phrase that most closel

(TCO 2) Match each of the six following terms with the phrase that most closely describes it. Each answer may be used only once.

_____ 1. Direct costs

_____ 2. Fixed costs

_____ 3. Incremental costs

_____ 4. Economic resource planning system

_____ 5. Noncontrollable costs

_____ 6. Opportunity costs

(A) Costs that increase or decrease in total in response to increases or decreases in the level of business activity

(B) Costs that are directly traceable to a product activity or department

(C) Costs that a manager can influence

(D) The difference in costs between decision alternatives

(E) Costs incurred in the past that are not relevant to present decisions

(F) Costs that cannot be influenced by a manager

(G) Financial plans prepared by management accountants

(H) Value of the benefits foregone when one decision alternative is selected over another

(I) Costs that cannot be directly traced to a product activity or department or are not worth racing

(J) Costs that do not change in total with changes in the level of business activity

Systems that prepare a master production system and all of the support across the company