Subject== General Account Which of the following are included in product costsunder variable costing?I. Variable manufacturing overhead.II. Fixed manufacturing overhead.III. Selling and administrative expenses.a. I, II, and IIIb. I and IIIc. I and IId. I onlye. None of the above

Hello student! Under Variable Costing, the cost of a product would only include the following:Direct…

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Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 4SEQ: For which cost concept used in applying (he cost-plus, approach to product pricing are fixed...

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Which of the following is not considered a product cost? A. direct materials B. direct labor C. indirect materials D. selling expense
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
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 type of manufacturing cost (direct materials, direct labor, variable factory overhead, fixed factory overhead) is included in the cost of goods manufactured under the absorption costing concept but is excluded from the cost of goods manufactured under the variable costing concept?
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
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.
Product costs are also called Select one: O a. Indirect material costs. O b. Indirect Labor costs. O c. Manufacturing overhead costs. O d. None of the answers are correct O e. Non-manufacturing costs.
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
5. ABC differs from traditional product costing in which of the following ways? a. Overhead is allocated to products in ABC b. Estimated costs are used c.) Diverse cost drivers are used d. It is completely accurate 0.002
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.

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Which of the following are included in product costs under variable costing? I. Variable manufacturing overhead. II. Fixed manufacturing overhead. III. Selling and administrative expenses. a. I, II, and III b. I and III c. I and II d. I only e. None of the above