12 Which method is used when all fixed manufacturing costs and variable manufacturing costs are included as inventoriable costs: Select one: a. fixed overhead costing b. absorption costing c. variable costing d. direct costing e. manufacturing overhead costing

12 Which method is used when all fixed manufacturing costs and variable manufacturing costs are included as inventoriable costs: Select one: a. fixed overhead costing b. absorption costing c. variable costing d. direct costing e. manufacturing overhead costing

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 17MC: Under absorption costing, a unit of product includes which costs? A. direct material, direct labor,...

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Question

Which method is used when all fixed manufacturing costs and variable manufacturing costs are included as inventoriable costs:

Select one:

a. fixed overhead costing

b. absorption costing

c. variable costing

d. direct costing

e. manufacturing overhead costing

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Similar questions

Under absorption costing, a unit of product includes which costs? A. direct material, direct labor, and manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and fixed manufacturing overhead D. direct material, direct labor, and all variable manufacturing overhead
Under variable costing, a unit of product includes which costs? direct material, direct labor, and manufacturing overhead Direct material, direct labor, and variable manufacturing overhead Direct material, direct labor, and fixed manufacturing overhead D. Direct material, direct labor, and all variable manufacturing overhead
Which is not a step In activity-based costing? A. identify the activities performed by the organization B. identify the cost driver(s) associated with each activity C. compute a cost rate per production D. assign costs to products by multiplying the cost driver rate by the volume of the cost driver units consumed by the product
Which is not a task typically associated with ABC systems? A. calculating the overhead application rate for each cost pool B. applying a single cost rate C. identifying a cost driver D. more correctly allocating overhead costs
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Cost classifications used for assigning costs to cost objects include: Multiple Choice Variable cost and fixed cost. Direct cost and indirect cost. Product cost and period cost. Relevant cost and irrelevant cost.
Classifying costs Classify each cost by placing an X in the appropriate columns. The first cost is completed as an example.
Under variable costing, which of the following are costs that can be inventoried Select one: O O a. variable manufacturing overhead b. fixed selling and administrative expense c. variable selling and administrative expense d. fixed manufacturing overhead
Which of the following best describes costs assigned to the product under absorption costing method? O a. DM, DL and variable manufacturing overhead O b. DM and DL O c. DM, DI, variable manufacturing overhead and fixed manufacturing overhead O d. DM, DI, variable selling and administrative costs & variable manufacturing overhead
A costing approach in which all manufacturing costs are product costs." This statement best describe. a. Normal Costing O b. Variable Costing C. Absorption Costing d. Actual Costing
Which of the following statements is true regarding the formula Y = a + bx? Multiple Choice Y = The estimated total fixed manufacturing overhead cost. Y = The estimated total amount of the allocation base. Y = The estimated total manufacturing overhead cost. Y = The actual total amount of the allocation base.
All of the following are names for the product costing method in which bothfixed and variable costs are included in overhead rates, except: A. absorption costingB. conventional costingC. direct costingD. full costing