Which of the following statement is false?         Multiple Choice   a)The contribution margin income statement format separates costs according to cost

Q: 1.Choose all of the following statements that are true. a. Opportunity costs and sunk costs are not…

A: a. Opportunity costs are not shown in the financial statements of companies. While, sunk costs…

Q: Choose the letter of the correct answer 1. Statement 1: Product cost under Variable costing are…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: When units sold exceeds, units produced, basis a. net income under absorption costing is higher than…

A: Absorption is an important method of costing in Accounting System. It refers to those costs which…

Q: 9) Which of the following is true with activity based cost accounting? A) Activity-based costing…

A: Correct option is C c) The focus is on activities that account for a sizable fraction of indirect…

Q: Which of the following is not a true statement about variable costs? O a. Total cost is known to…

A: Variable Cost Variable cost which is described as the cost which are incurred to the business entity…

Q: Which of the following is not a potential advantage of variable costing relative to absorption…

A: Variable costing is a method in which only variable cost is considered in product cost. Absorption…

Q: A downside to absorption casting is: A. not including fixed manufacturing overhead in the cost of…

A: Absorption costing demonstrates that all the expenses related to manufacturing a product are…

Q: Listed below are nine technical accounting terms introduced in this chapter:Variable costs Relevant…

A:

Q: Management Accounting) If fixed production costs are not allocated to manufactured products, this…

A: SOLUTION FIXED COST INCLUDES THE RENT OR MORTGAGE PAYMENT YOU PAY FOR YOUR FACTORY AND OFFICE…

Q: Which of the following statements is true regarding a company's segment margin? It is primarily used…

A: Solution: The true statement regarding a company's segment margin is that "It is primarily used to…

Q: Which of the following is NOT true about the cause-and-effect criterion when estimating a cost…

A: The cause and effect analysis is one of the factors for making cost allocation decisions. The cost…

Q: Which of the following statements is false ? a. Volume-based costing has typically resulted in…

A: There are two methods of costing that are in place generally. One is volume based costing and other…

Q: Which of the following is NOT true regarding an income statement organized according to the…

A: An income statement is a financial statement that tracks both corporate revenue and expenses over a…

Q: Consider the following statements about absorption costing and variable costing: Variable costing…

A: Absorption costing and variable costing are managerial accounting and financial reporting cost…

Q: First: The inventory value shown on the balance sheet is generally higher under absorption costing…

A: Under variable costing, product cost consists of only variable manufacturing costs.  Under…

Q: When the number of units sold exceed the number of units produced, income reported under absorption…

A: Fixed overhead costs include those costs which shall not vary with the production output. In…

Q: TRUE OR FALSE When absorption costing is used for external reporting, variable costing can still be…

A: There are various approaches which can be prepared for reporting purpose. Two of which are variable…

Q: Which of the following is NOT a problem associated with standard cost accounting? a. Standard…

A:

Q: Why is variable costing not in compliance with generally accepted accounting principles? a. Fixed…

A: The generally accepted accounting principles are following the absorption method for the valuation…

Q: ?Which of the following statements is false Activity-based costing typically provides less…

A: In order to solve in this question, we need to analyse the given statement one-by-one.

Q: All these statements are true for Marginal costing except this O Costs are segregated based on…

A: Marginal costing refers to the costing approach in which, variable costs are considered as the…

Q: When production exceeds sales, the net operating income reported under absorption costing generally…

A: The income statement is prepared to estimate the net profit or loss incurred during the period.

Q: First: When reconciling variable costing and absorption costing net operating income, fixed…

A: Answer: option c. Only the second statement is true Explanation: Under absorption costing, a portion…

Q: d in the cost of the product b) that it is not really useful for managerial decisions c) that it…

A: A cost accounting system is a system of accounting that is helpful for the internal management to…

Q: Which of the following statements is not true regarding the use of variable and absorption costing…

A: Absorption costing: It refers to the method of product costing in which the price of the product is…

Q: One disadvantage of activity-based costing is that it cannot be used for external reporting. This is…

A: ABC or Activity based costing is a technique in which various cost divers are used to calculate the…

Q: What will be the difference in net earnings computed using variable costing as opposed to absorption…

A: Under variable costing, whole amount of fixed overhead will be charged in the income statement.…

Q: The following are nine technical accounting terms introduced or emphasized in this chapter. Transfer…

A: Contribution Margin = Sales -Variable Cost

Q: The following are nine technical accounting terms: Responsibility margin Contribution margin…

A: Responsibility accounting is a term that asserts that each expenditure incurred in the organization…

Q: A range of costing methods have been considered in the module. Which of the following statements is…

A: Following is the answer to the given question

Q: Which of the following statements is not true regarding the use of variable and absorption costing…

A: Answer:   Option d.

Q: Marginal costing is a technique that distinguishes between variable costs and fixed costs. In this…

A: Cost-volume-profit (CVP) analysis is an important and systematic method that provides useful…

Q: Which of the following statements is true?   a. When production is greater than sales, operating…

A: The question is based on the concept of Cost Accounting.

Q: Which of the following is not a potential advantage of variable costing relative absorption costing?…

A: Cost volume profit analysis is calculated by dividing the fixed cost by the unit contribution…

Q: T, F. In a make or buy short-run decision situation, the critical element to consider is whether the…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: This best accounts for the difference in profit between the absorption and variable costing *…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Explain the meaning of (a) differential revenue, (b) differential cost, and (c) differential income.

A: Solution:- Explaining of meaning of  (a) differential revenue, (b) differential cost, and (c)…

Q: 1. The amount of increase or decrease in revenue that is expected from a particular course of action…

A: Differential costing is a technique where differential costs are considered relevant. Differential…

Q: When production exceeds sales, the net operating income reported under absorption costing generally…

A: The absorption costing includes the per unit cost of fixed overheads as well as variable overheads…

Q: Which of the following statements regarding activity-based costing (ABC) is false?   A.   ABC is…

A: Overheads are the indirect cost involved in the production process of the company. It is charged to…