Answered: TRUE OR FALSE When absorption costing…

TRUE OR FALSE When absorption costing is used for external reporting, variable costing can still be used for internal reporting purposes.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 15MC: Absorption costing is also referred to as: A. direct costing B. marginal costing C. full costing D....

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TRUE OR FALSE

When absorption costing is used for external reporting, variable costing can still be used for internal reporting purposes.

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Similar questions

How does absorption costing differ from variable costing? When will absorption-costing operating income exceed variable-costing operating income?
When might activity-based costing be preferred over using a relative amount of product sales in allocating selling and administrative expenses to products?
Which statement is correct? A. Activity-based cost systems are less costly than traditional cost systems. B. Activity-based cost systems are easier to implement than traditional cost systems. C. Activity-based cost systems are more accurate than traditional cost systems. D. Activity-based cost systems provide the same data as traditional cost systems.
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Under variable costing, a unit of product includes which costs? direct material, direct labor, and manufacturing overhead Direct material, direct labor, and variable manufacturing overhead Direct material, direct labor, and fixed manufacturing overhead D. Direct material, direct labor, and all variable manufacturing overhead
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