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Under the Absorption Costing Method,what Was the Dollar Value of the Company's

Question 101
Multiple Choice

Under the absorption costing method,what was the dollar value of the company's inventory on August 31? A) $27,000. B) $36,000. C) $42,000. D) $47,000.FOH = 105,000/35,000 = $3/unit.EI = $27,000/9 = 3,000 units * (9 + 3)= $36,000.

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Q 102
Under absorption costing,what operating income (loss)did the company report for the month ending August 31? A) ($5,000). B) $5,000. C) $20,000. D) $25,000.Op.Inc.= $20,000 + 3,000 * 3 - 8,000 * 3 = $5,000.
Q 103
In the preparation of financial statements using variable costing,fixed manufacturing overhead is treated as a period cost.
Q 104
Variable costing is sometimes referred to as direct costing or marginal costing.
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