6. Under variable costing, fixed manufacturing overhead costs would be classified as:a. Product costs.b. Period costs.c. Selling costs.d. Inventory costs.7. A 10% internal rate of return (IRR) on a proposed capital investment indicates all of the following except:a. The economic rate of return on the project is expected to be 10%.b. Use of a 10% discount rate would result in an estimated project NPV of zero.c. A positive net present value (NPV) if the company required rate of return is less than 10%.d. The project would be "accepted" if the company required rate of return is greater than 10%.8. Any system of compensation:a. May encourage unethical behavior.b. Should be designed by top management.c. Must be approved by the auditor.d. Must include bonuses.9. A firm with a declining market share percentage may still earn a higher operating income if the:a. Market as a whole is declining.b. Market as a whole is stable.c. Market as a whole is shifting.d. Market as a whole is growing.10. The manager acting independently in such a way as to simultaneously achieve top management'sobjectives is exhibiting:a. Performance evaluation.b. Operational control.c. Goal congruence.d. Management control.

Name: 6. Under variable costing, fixed manufacturing overhead costs would b
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 6. Under variable costing, fixed manufacturing overhead costs would be classified as:a. Product costs.b. Period costs.c. Selling costs.d. Inventory costs.7. A 10% internal rate of return (IRR) on a proposed capital investment indicates all of the fo

The question is based on the concept of Cost Accounting. As per the Bartleby guidelines we are…

Answered: 6. Under variable costing, fixed…

Business

Accounting

6. Under variable costing, fixed manufacturing overhead costs would be classified as: a. Product costs. b. Period costs. c. Selling costs. d. Inventory costs.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please indicate which are product costs and which are period costs. Under Absorption Costing: Direct Materials are considered a Direct Labor is considered a Variable overhead is considered a Fixed overhead is considered a Under Variable Costing: Direct Materials are considered a Direct Labor is considered a Variable overhead is considered a Fixed overhead is considered a
Activity based Costing enables overhead cost to be ___________assigned to cost objects. a. Over b. Under c. Accurately d. Highly
Variable costing can also be referred to as: Select one: a. Internal costing b. Cost-plus costing c. Absorption costing d. Marginal costing
5) Activity based costing system differs from traditional costing systems in the treatment of A) direct labor costs B) direct material costs C) prime costs D) indirect costs
Which of the following statements is true of ABC systems? A) ABC systems are time-driven cost systems. B) ABC systems classify some direct costs as indirect costs and some indirect costs as direct costs. C) ABC systems provide valuable information to managers beyond accurate product costs. D) ABC systems assume all costs are variable costs.
Under variable costing, all fixed manufacturing costs are treated as a a. product cost included in the cost of goods manufactured. b. product cost included in the cost of ending inventory. c. period expense deducted from manufacturing margin. d. period expense deducted from contribution margin.
The primary difference between variable costing and absorption costing is a. in variable costing, fixed manufacturing overhead is a product cost. b. in absorption costing, fixed manufacturing overhead is a product cost. c. in variable costing, variable selling and administrative costs are product costs. d. in absorption costing, fixed selling and administrative costs are product costs.
В. Explain the following: Product costs and Period costs and one example of each. Distinguish clearly between Financial Accounting and Management Accounting under 3 (THREE) different factors, which are: i. Stakeholders, ii. Time frame and iii. Regulations. С. Before calculating costs we need to understand how different costs behave. In cost accounting we typically classify costs by three types of behaviour: Fixed costs - costs which don't change as the activity level changes Variable costs - costs which change in direct proportion to changes in the activity level Semi-variable costs- costs which have both fixed and variable elements. Explain the purpose classifying costs into the behavior patterns. D.
What is absorption costing and marginal costing in the context of overhead costs? Discuss the following in your answer: • The difference between absorption costing and marginal costing. • Two reasons for absorption costing.
When materials costs differ significantly among products in a value stream, the valuestream product cost is calculated by which of the following?a. Unit Materials Cost + Value-Stream Costs/Units Shippedb. Unit Materials Cost + Value-Stream Conversion Costs/Units Shippedc. Value-Stream Costs/Units Producedd. Value-Stream Costs/Units Shipped
why is adjustment necessary for under and over absorption of overheads in the absorption costing model.
What is the key difference between Absorption and Variable Costing? A Full Costing treats Manufacturing Overhead as a period cost B Variable Costing treats Fixed Manufacturing Overhead as a period cost C Absorption Costing only considers variable costs to calculate net income D Variable Costing only considers variable costs to calculate net income