Choose best option . Subject general account Under variable costing, fixed manufacturing overhead is:A) carried in a liability account.B) carried in an asset account.C) ignored.D) immediately expensed as a period cost.

Understanding the QuestionThe treatment of fixed manufacturing overhead (FMOH) differs between…

Answered: Under variable costing, fixed…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 16MC: Under variable costing, a unit of product includes which costs? direct material, direct labor, and...

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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 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
In the variable costing income statement, how are the fixed manufacturing costs reported, and how are the fixed selling and administrative expenses reported?
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
What are the distinguishing characteristics of variable, fixed, and semivariable factory overhead costs?
Under what conditions may the unit costs of materials, labor, and overhead be computed by using only one equivalent production figure?
Under variable costing, fixed manufacturing overhead is: a) expensed immediately when incurred. b) never expensed. c) applied directly to Finished-Goods Inventory. d) applied directly to Work-in-Process Inventory. e) treated in the same manner as variable manufacturing overhead.
Under variable costing, fixed manufacturing overhead is Select one: a. never expensed b. expensed immediately when incurred. c. applied directly to Work-in-Process Inventory d. treated in the same manner as variable manufacturing overhead e. applied directly to Finished-Goods Inventory.
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, fixed manufacturing overhead is expensed at the time the units are produced. Under absorption costing, fixed manufacturing overhead is expensed at the time the units are sold. True or False True False
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

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Under variable costing, fixed manufacturing overhead is: A) carried in a liability account. B) carried in an asset account. C) ignored. D) immediately expensed as a period cost.