What term is commonly used to describe the concept whereby the cost of

What term is commonly used to describe the concept

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7.What term is commonly used to describe the concept whereby the cost of manufactured products is composed of direct materials cost, direct labor cost, and variable factory overhead cost? Standard costingVariable costingDifferential costingAbsorption costing 8.Under variable costing, which of the following costs would notbe included in finished goods inventory? 9.A business operated at 100% of capacity during its first month and incurred the following costs:Production costs (20,000 units):Direct materials$180,000Direct labor240,000Variable factory overhead280,000Fixed factory overhead100,000$800,000Operating expenses:Variable operating expenses$130,000Fixed operating expenses50,000180,000If 1,500 units remain unsold at the end of the month, what is the amount of inventory that would be reported on the variable costing balance sheet? 10.What term is commonly used to describe the concept whereby the cost of manufactured products is composed of direct materials cost, direct labor cost, and all factory overhead cost?
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