Question: Account Under variable costing, which of the following is not expensed in its entirety in the period in which it is incurred? a. Fixed manufacturing overhead cost. b. Fixed selling and administrative expense. c. Variable selling and administrative expense. d. Variable manufacturing overhead cost.

Question: Account Under variable costing, which of the following is not expensed in its entirety in the period in which it is incurred? a. Fixed manufacturing overhead cost. b. Fixed selling and administrative expense. c. Variable selling and administrative expense. d. Variable manufacturing overhead cost.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 4DQ: In the variable costing income statement, how are the fixed manufacturing costs reported, and how...

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In the variable costing income statement, how are the fixed manufacturing costs reported, and how are the fixed selling and administrative expenses reported?
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 analyzing the cost driver for manufacturing overhead? A. Identify the cost B. identify non-value-added costs C. analyze the effect on manufacturing overhead D. identify the correlation between the potential driver and manufacturing overhead
For which cost concept used in applying (he cost-plus, approach to product pricing are fixed manufacturing costs, fixed selling and administrative expenses, and desired profit allowed for in determining the markup? A. Total cost B. Product cost C. Variable cost D. Standard cost
Why are product costs assigned to the product and period costs immediately expensed?
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
Which of the following is not considered a product cost? A. direct materials B. direct labor C. indirect materials D. selling expense
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.
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
Selling and administrative expenses are considered to be: a. A period cost under variable costing b. A product cost under variable costing c. Part of fixed manufacturing overhead under variable costing O d. A product cost under absorption costing.
Under absorption costing, fixed manufacturing overhead costs are:A. are deferred in inventory when production exceeds sales.B. are always treated as period costs.C. are released from inventory when production exceeds sales.D. none of the above
Under variable costing, which of the following costs are treated as period costs?a) Only fixed manufacturing costsb) Both variable and fixed manufacturing costsc) All fixed costsd) Only fixed selling and administrative costs