Some fixed manufacturing costs of the current period are deferred to future periods through ending inventory under varia...
Some fixed manufacturing costs of the current period are deferred to future periods through ending inventory under variable costing. True False
Homework Answers
| False | |
| Fixed manufacturing overheads of the current period are deferred to future periods through the ending inventory under the absorption costing system. Not variable costing |
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Some fixed manufacturing costs of the current period are deferred to future periods through ending inventory under varia...
Fixed manufacturing overhead costs are recognized as: A-product costs under variable costing. B-part of ending inventory...
Fixed manufacturing overhead costs are recognized as: A-product costs under variable costing. B-part of ending inventory costs under both absorption and variable costing. C-period costs under absorption costing. D-product costs under absorption costing.
Under variable costing, the units in the beginning Finished Goods Inventory contain fixed manufacturing overhead costs....
Under variable costing, the units in the beginning Finished Goods Inventory contain fixed manufacturing overhead costs. a) True b) False
Last year, Silver Company's total variable production costs were $7,500, and its total fixed manufacturing overhead...
Last year, Silver Company's total variable production costs were $7,500, and its total fixed manufacturing overhead costs were $4,500. The company produced 3,000 units during the year and sold 2,400 units. There were no units in the beginning inventory. Which of the following statements is true? Under variable costing, the average cost of the units in the ending inventory will be $4 each. The operating income under absorption costing for the year will be $900 lower than the operating income...
Identify the true statement about variable costing. a. It treats fixed manufacturing overhead as a period...
Identify the true statement about variable costing. a. It treats fixed manufacturing overhead as a period cost. b. It is the most acceptable product-costing method for external reporting, c. It assigns all manufacturing costs to the product. Od. It treats fixed selling overhead as a product cost. blem #3 of 12 The following data relates to Alpha Company. Units in beginning inventory Units produced 24,000 Units sold ($250 per unit) 20,000 Variable costs per unit: Direct materials Direct labor Variable...
A portion of the total fixed manufacturing overhead cost incurred during a period may: A) be...
A portion of the total fixed manufacturing overhead cost incurred during a period may: A) be included below the gross margin line as a period cost under absorption costing. B) be charged as a period cost with the remainder deferred under variable costing. C) be temporarily excluded from cost of goods sold under absorption costing. D) never be excluded from cost of goods sold under variable costing.
The following information pertains to SeaSpan Inc for a period: Selling price per unit Standard fixed...
The following information pertains to SeaSpan Inc for a period: Selling price per unit Standard fixed manufacturing costs per unit Variable selling and administrative cost $41 $20 $4 per unit $16,000 Fixed selling and administrative costs Beginning inventories: Units Standard fixed manufacturing cost Standard variable manufacturing cost Units produced Units sold ? $40,000 $20,000 10,000 units 9,600 units a) Assume the unit standard costs data for the beginning and ending inventories remained constant during the period. What was the total...
The following information pertains to SeaSpan Inc for a period: Selling price per unit Standard fixed...
The following information pertains to SeaSpan Inc for a period: Selling price per unit Standard fixed manufacturing costs per unit Variable selling and administrative cost $41 $20 $4 per unit $16,000 Fixed selling and administrative costs Beginning inventories: Units Standard fixed manufacturing cost Standard variable manufacturing cost Units produced Units sold ? $40,000 $20,000 10,000 units 9,600 units a) Assume the unit standard costs data for the beginning and ending inventories remained constant during the period. What was the total...
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
Last year, Jaquet Corporation's variable costing net operating income was $58,000. The fixed manufacturing overhead costs...
Last year, Jaquet Corporation's variable costing net operating income was $58,000. The fixed manufacturing overhead costs deferred in inventory under absorption costing amounted to $9,000. Required: Determine the absorption costing net operating income last year. Show your work!
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
Identify the true statement about variable costing. a. It treats fixed manufacturing overhead as a period cost. b. It is the most acceptable product-costing method for external reporting, c. It assigns all manufacturing costs to the product. Od. It treats fixed selling overhead as a product cost. blem #3 of 12 The following data relates to Alpha Company. Units in beginning inventory Units produced 24,000 Units sold ($250 per unit) 20,000 Variable costs per unit: Direct materials Direct labor Variable...
The following information pertains to SeaSpan Inc for a period: Selling price per unit Standard fixed manufacturing costs per unit Variable selling and administrative cost $41 $20 $4 per unit $16,000 Fixed selling and administrative costs Beginning inventories: Units Standard fixed manufacturing cost Standard variable manufacturing cost Units produced Units sold ? $40,000 $20,000 10,000 units 9,600 units a) Assume the unit standard costs data for the beginning and ending inventories remained constant during the period. What was the total...
The following information pertains to SeaSpan Inc for a period: Selling price per unit Standard fixed manufacturing costs per unit Variable selling and administrative cost $41 $20 $4 per unit $16,000 Fixed selling and administrative costs Beginning inventories: Units Standard fixed manufacturing cost Standard variable manufacturing cost Units produced Units sold ? $40,000 $20,000 10,000 units 9,600 units a) Assume the unit standard costs data for the beginning and ending inventories remained constant during the period. What was the total...
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
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