Which of the following types of costs are classified as period costs under absorption costing, but...
Which of the following types of costs are classified as period costs under absorption costing, but not under variable costing? A. All non-manufacturing costs B. Only fixed non-manufacturing costs C. The cost of purchasing long-lived assets for use in manufacturing D. None of the above
Homework Answers
Answer : D) None of the Above
These is no concept of Period cost ( Variable and Fixed cost ) under the absorption Costing. whereas all the Fixed cost are Considered as the Period costs under the Variable costing
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Which of the following types of costs are classified as period
costs under absorption costing, but...
Which of the following costs is classified as a period cost under variable costing? O a....
Which of the following costs is classified as a period cost under variable costing? O a. Fixed manufacturing overhead O b. Variable manufacturing overhead O c. The cost of direct materials O d. The cost of direct labor Which of the following is true of a fixed cost? O a. Fixed costs in total vary in direct proportion to changes in output within the relevant range. O b. The per unit fixed cost increases with an increase in the level...
Under full absorption costing, which of the following are included in product costs? A. Only conversion...
Under full absorption costing, which of the following are included in product costs? A. Only conversion costs. B. Only variable manufacturing costs. C. Only direct materials and direct labor. D. All fixed and variable manufacturing costs.
Which of the following is true of absorption costing? It expenses marketing costs as cost of...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Which of the following statements is true of absorption costing? a. It is used only for...
Which of the following statements is true of absorption costing?a. It is used only for internal reporting purposes.b. It assigns all manufacturing costs to the product.c. It treats fixed selling overhead as a product cost.d. It treats fixed manufacturing overhead as a period cost.Determine the value of ending inventory under variable costing.a. $ 1,050,000b. $ 570,000c. $ 690,000d. $ 750,000Determine the cost of goods sold under absorption costing.a. $ 360,000b. $ 500,000c. $ 400,000d. $ 540,000
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
QUESTION 1 Which of the following is not true about the variable costing and absorption costing...
QUESTION 1 Which of the following is not true about the variable costing and absorption costing methods? Absorption costing treats fixed costs as period costs while variable costing treats it as a product cost. Absorption costing allocates all manufacturing costs as product costs while variable costing only uses direct manufacturing costs. Variable costing and absorption costing both treat selling and administrative costs as period costs. Variable costing is designed to capture only variable overhead costs while absorption costing's meant to...
8) Opponents of variable costing argue that in the long run all costs are variable. (4pts)...
8) Opponents of variable costing argue that in the long run all costs are variable. (4pts) True O False 9) Fixed non-manufacturing costs are classified as period costs under variable costing, but not under absorption costing. True False
Question 21 (1 point) Operating income reported under absorption costing will generally exceed operating income reported...
Question 21 (1 point) Operating income reported under absorption costing will generally exceed operating income reported under variable costing for a given period in which of the following cases? If the variable manufacturing overhead exceeds the fixed manufacturing overhead. If production exceeds sales for that period. None of the options provided are correct. If production equals sales for that period. If sales exceed production for that period. w wwwwwwwwwwwwwwwwwwww wwwwwww Question 22 (1 point) The term "gross margin" for a...
Variable Costing and Absorption Costing - under the traditional costing approach, absorption costing, or full costing,...
Variable Costing and Absorption Costing - under the traditional costing approach, absorption costing, or full costing, products absorb all costs incurred to product them which can result in misleading product cost information for decision-making. Under variable costing only costs that change in total with changes in production level are included in product costs. The difference between the two costing methods is the exclusion of fixed overhead from product cost for variable costing. Post your response and ideas of the following...
Redrock LLC uses variable costing and absorption costing. In the variable cost income statement, which of...
Redrock LLC uses variable costing and absorption costing. In the variable cost income statement, which of the following is a period cost? Select one: a. Direct materials b. Direct labor c. Fixed Manufacturing Overhead d. None of the above
Which of the following costs is classified as a period cost under variable costing? O a. Fixed manufacturing overhead O b. Variable manufacturing overhead O c. The cost of direct materials O d. The cost of direct labor Which of the following is true of a fixed cost? O a. Fixed costs in total vary in direct proportion to changes in output within the relevant range. O b. The per unit fixed cost increases with an increase in the level...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Which of the following statements is true of absorption costing?a. It is used only for internal reporting purposes.b. It assigns all manufacturing costs to the product.c. It treats fixed selling overhead as a product cost.d. It treats fixed manufacturing overhead as a period cost.Determine the value of ending inventory under variable costing.a. $ 1,050,000b. $ 570,000c. $ 690,000d. $ 750,000Determine the cost of goods sold under absorption costing.a. $ 360,000b. $ 500,000c. $ 400,000d. $ 540,000
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
QUESTION 1 Which of the following is not true about the variable costing and absorption costing methods? Absorption costing treats fixed costs as period costs while variable costing treats it as a product cost. Absorption costing allocates all manufacturing costs as product costs while variable costing only uses direct manufacturing costs. Variable costing and absorption costing both treat selling and administrative costs as period costs. Variable costing is designed to capture only variable overhead costs while absorption costing's meant to...
8) Opponents of variable costing argue that in the long run all costs are variable. (4pts) True O False 9) Fixed non-manufacturing costs are classified as period costs under variable costing, but not under absorption costing. True False
Question 21 (1 point) Operating income reported under absorption costing will generally exceed operating income reported under variable costing for a given period in which of the following cases? If the variable manufacturing overhead exceeds the fixed manufacturing overhead. If production exceeds sales for that period. None of the options provided are correct. If production equals sales for that period. If sales exceed production for that period. w wwwwwwwwwwwwwwwwwwww wwwwwww Question 22 (1 point) The term "gross margin" for a...
Variable Costing and Absorption Costing - under the traditional costing approach, absorption costing, or full costing, products absorb all costs incurred to product them which can result in misleading product cost information for decision-making. Under variable costing only costs that change in total with changes in production level are included in product costs. The difference between the two costing methods is the exclusion of fixed overhead from product cost for variable costing. Post your response and ideas of the following...
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