Matching
Matching
Premises:
Treats fixed manufacturing cost as a period cost.
May be used in a manufacturing company.
Treats fixed selling cost as a period cost.
Generally provides the most useful report for controlling costs.
Includes gross profit on the income statement.
Operating income is impacted by changes in inventory level.
Required by generally accepted accounting principles.
Generally provides the most useful report for setting long-term prices.
Responses:
Absorption costing only
Both absorption and variable costing
Variable costing only
Correct Answer:
Premises:
Responses:
Treats fixed manufacturing cost as a period cost.
May be used in a manufacturing company.
Treats fixed selling cost as a period cost.
Generally provides the most useful report for controlling costs.
Includes gross profit on the income statement.
Operating income is impacted by changes in inventory level.
Required by generally accepted accounting principles.
Generally provides the most useful report for setting long-term prices.
Premises:
Treats fixed manufacturing cost as a period cost.
May be used in a manufacturing company.
Treats fixed selling cost as a period cost.
Generally provides the most useful report for controlling costs.
Includes gross profit on the income statement.
Operating income is impacted by changes in inventory level.
Required by generally accepted accounting principles.
Generally provides the most useful report for setting long-term prices.
Responses:
Related Questions
Q42: At EOM Inc.,the beginning inventory is 20,000
Q58: On October 31, the end of the
Q59: Tony's Company has the following information for
Q62: Which of the following would be included
Q62: A business operated at 100% of capacity
Q65: The level of inventory of a manufactured
Q66: A business operated at 100% of capacity
Q71: The amount of income under absorption costing
Q134: Which of the following causes the difference
Q145: In which of the following types of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents