Which of the following statements are true? 1. Wages paid to production supervisors would be classified as manufacturing overhead. 2. Indirect costs, such as manufacturing overhead, are variable costs. 3. Selling costs are indirect costs. 4. Administrative costs are indirect costs.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 4?
QUESTION 4
Which of the following statements are true?
1. Wages paid to production supervisors would be classified as
manufacturing overhead.
2. Indirect costs, such as manufacturing overhead, are variable
costs.
3. Selling costs are indirect costs.
4. Administrative costs are indirect costs.
All statements are true.
Only statement I is true.
None of the statements are true.
Statements I and III are true.
Transcribed Image Text:QUESTION 4 Which of the following statements are true? 1. Wages paid to production supervisors would be classified as manufacturing overhead. 2. Indirect costs, such as manufacturing overhead, are variable costs. 3. Selling costs are indirect costs. 4. Administrative costs are indirect costs. All statements are true. Only statement I is true. None of the statements are true. Statements I and III are true.
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