Under full absorption costing, which of the following are included in product costs? A. Only conversion...
Under full absorption costing, which of the following are included in product costs?
A. Only conversion costs.
B. Only variable manufacturing costs.
C. Only direct materials and direct labor.
D. All fixed and variable manufacturing costs.
Homework Answers
Answer
- The correct answer is Option ‘D’ All fixed and variable manufacturing costs are included in Product costs under Full absorption costing.
- Product cost includes Direct material, Direct Labor, Variable manufacturing overheads, and fixed manufacturing overheads.
- Selling & Administrative costs ARE NOT INCLUDED [whether fixed or variable]
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Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
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