What does traceability mean what is tracing what is, Managerial Accounting

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What does traceability mean what is tracing what is

1. What is meant by "product costing accuracy"?

2. What is a cost object? Give some examples.

3. What is an activity? Give some examples of activ- ities within a manufacturing firm.

4. What is a direct cost? An indirect cost?

5. What does traceability mean? What is tracing?

6. What is allocation?

7. What are drivers? Give an example of a driver.

8. Explain the difference between direct tracing and driver tracing.

9. Explain how driver tracing works.

10. What is a tangible product?

11. What is a service?

12. Explain how services differ from tangible products.

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