Managerial accounting Study Set 9
Quiz 8: Variable Costing: a Tool for Management
Although Variable Costing Is Not Permitted for Income Tax Purposes
Although variable costing is NOT permitted for income tax purposes in Canada,it is widely accepted for external financial reports.
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Sales volume is the only driver of operating income under absorption costing.
When lean production methods are introduced,the difference in operating income calculated using the absorption and variable costing methods is reduced.
Since variable costing emphasizes costs by behaviour,it works well with cost-volume-profit analysis.
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