cost-exam 3 cheat sheet

cost-exam 3 cheat sheet - C hapter 9 61) Which of the...

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Chapter 9 61) Which of the following cost(s) are inventoried when using variable costing? A) direct manufacturing costs 62) Which of the following cost(s) are inventoried when using absorption costing? D) Both A and C are correct. 63) ________ is a method of inventory costing in which all variable and fixed manufacturing costs are included as inventoriable costs. C) Absorption costing 64) Absorption costing is required for all of the following EXCEPT: B) determining a competitive selling price 65) Absorption costing: C) includes fixed manufacturing overhead as an inventoriable cost 66) Variable costing: B) treats direct manufacturing costs as a product cost 67) ________ method(s) expense(s) variable marketing costs in the period incurred. D) All of these answers are correct. 68) ________ method(s) include(s) fixed manufacturing overhead costs as inventoriable costs. B) Absorption costing 69) ________ method(s) expense(s) direct material costs as cost of goods sold. D) All of these answers are correct. 71) ________ is a method of inventory costing in which only variable manufacturing costs are included as inventoriable costs. B) Variable costing 72) Variable costing regards fixed manufacturing overhead as a(n): C) period cost 73) The only difference between variable and absorption costing is the expensing of: C) fixed manufacturing costs 89.Andrea’s. What is cost of goods sold per unit when using absorption costing? C) $29 90) What is gross margin when using absorption costing? D) $24,750 91) What is operating income when using absorption costing? B) $16,500 92) An unfavorable production-volume variance occurs when: B) the denominator level exceeds production 93) If the unit level of inventory increases during an accounting period, then: B) more operating income will be reported under absorption costing than variable costing 94) The difference between operating incomes under variable costing and absorption costing centers on how to account for: B) fixed manufacturing costs 95.One possible means of determining the difference between operating incomes for absorption costing and variable costing is by: B) subtracting fixed manufacturing overhead in beginning inventory from fixed manufacturing overhead in ending inventory 96) When comparing the operating incomes between absorption costing and variable costing, and beginning finished inventory exceeds ending finished inventory, it may be assumed that: D) variable costing operating income exceeds absorption costing operating income 114) Given a constant contribution margin per unit and constant fixed costs, the period-to-period change in operating income under variable costing is driven solely by: A) changes in the quantity of units actually sold 115) Companies have recently been able to reduce inventory levels because: D)Both A and B are correct. 116) Many companies have switched from absorption costing to variable costing for internal reporting:
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cost-exam 3 cheat sheet - C hapter 9 61) Which of the...

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