COST Reviews

What does "cost" refer to in a business context?

• What the business pays

• What the customer pays

What does COGS stand for?

• Cost of Goods Sold

• Cost of General Services

• Cost of Generated Sales

• Cost of Goods Services

What are costs associated with in COGS?

• Marketing the product

• Building the product or providing the service

• Distributing the product

• Researching the product

How is COGS always stated?

• As a total amount

• As a per unit amount

• As a percentage

• As a monthly amount

What is a common component of LABOR in COGS?

• Office supplies

• Wages for service providers

• Marketing materials

• Insurance premiums

SG&A costs are crucial for:

• Business expansion

• Day-to-day operations

• Product innovation

• Market research

1 time expense needed to get business off the ground

• SG&A Costs

• Start-Up Costs

• COGS

On going fees to keep businesses up and running

• SG&A

• Start-Up Costs

• COGS

A sheet of metal used to build a product is considered what cost?

• SG&A Costs

• Start-Up Costs

• COGS

refers to the direct costs associated with production of a product, including the raw materials used to make it and any labor costs

• Revenue

• Cost of goods sold (COGS)

• Gross profit

• Operating expenses