Question : 101.              Which cost charged to the product under variable costing? a.Variable : 1311749

 

101.              Which cost is charged to the product under variable costing?

a.Variable manufacturing overhead

b.Fixed manufacturing overhead

c.Variable administrative expenses

d.Fixed administrative expenses

 

 

a102.Variable costing

a.is used for external reporting purposes.

b.is required under GAAP.

c.treats fixed manufacturing overhead as a period cost.

d.is also known as full costing.

 

 

a103.Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. The per unit manufacturing cost under absorption costing is

a.$8.

b.$9.

c.$13.

d.$14.

 

 

a104.Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. The per unit manufacturing cost under variable costing is

a.$8.

b.$9.

c.$13.

d.$14.

 

 

a105.Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. Cost of goods sold under absorption costing is

a.$450,000.

b.$540,000.

c.$650,000.

d.$520,000.

 

 

a106.Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. Ending inventory under variable costing is

a.$90,000.

b.$130,000.

c.$200,000.

d.$450,000.

 

 

a107.Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. Under absorption costing, what amount of fixed overhead is deferred to a future period?

a.$10,000

b.$40,000

c.$50,000

d.$240,000

 

 

a108.Net income under absorption costing is gross profit less

a.cost of goods sold.

b.fixed manufacturing overhead and fixed selling and administrative expenses.

c.fixed manufacturing overhead and variable manufacturing overhead.

d.variable selling and administrative expenses and fixed selling and administrative  expenses.

 

 

a109.Net income under variable costing is contribution margin less

a.cost of goods sold.

b.fixed manufacturing overhead and fixed selling and administrative expenses.

c.fixed manufacturing overhead and variable manufacturing overhead.

d.variable selling and administrative expenses and fixed selling and administrative expenses.

 

 

a110.The manufacturing cost per unit for absorption costing is

a.usually, but not always, higher than manufacturing cost per unit for variable costing.

b.usually, but not always, lower than manufacturing cost per unit for variable costing.

c.always higher than manufacturing cost per unit for variable costing.

d.always lower than manufacturing cost per unit for variable costing.

 

 

a

 

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