This best accounts for the difference in profit between the absorption and variable costing * a.) Difference in sales revenue b.) Difference in fixed costs incurred c.) Difference in inventory valuation d.) Difference in variable costs incurred
Choose the letter of the correct answer:
1.) This best accounts for the difference in profit between the absorption and variable costing *
a.) Difference in sales revenue
b.) Difference in fixed costs incurred
c.) Difference in
d.) Difference in variable costs incurred
2.) Variable selling expenses are *
a.) Product costs under variable costing but period costs under absorptions costing
b.) Period costs under variable costing but product cost under absorption costing
c.) Product costs under both costing methods
d.) period costs under both costing methods
3. Which of the following types of cost do not appear on a variable costing income statement? *
a.) Direct labor
b.) Direct materials
c.) Variable selling expenses
d.)Fixed factory
4.) All of the following costs are included as product costs under absorption costing except *
a.) Direct labor
b.) Direct materials
c.) Fixed selling expenses
d.) Fixed factory overhead
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
