Select the incorrect statement from the following. a. The difference between a direct cost and an indirect cost is that a direct cost relates to a given cost object while an indirect cost does not. b. Actual costs are useful for evaluating managerial performance. c. Actual costs are not relevant in many decisions because actual costs cannot be determined until after the decision has been made. d. When accumulating the cost of a specific cost object, the indirect costs are allocated to the cost object.

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money.msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach