Which of the following statements is true?
A. Under absorption costing, fixed manufacturing overhead is expensed as period expenses.
B. Fixed manufacturing overhead costs are treated the same under both absorption costing and variable costing.
C. Under variable costing, direct materials and direct labor are expensed as period expenses.
D. Reported income under absorption costing is not affected by production level changes.
E. Under variable costing, fixed manufacturing overhead is expensed as period expenses.
Answer: E
You might also like to view...
Which of the following statements about call centers in the United States is true?
A. Call center functions have largely been returned to the U.S. from countries like India and Mexico. B. Call centers have replaced instant messaging as the technology of choice for resolving the complaints of younger customers. C. Call center functions have largely been brought back in-house from third-party companies that specialize in call center operations. D. There has been some shrinkage in the number and size of call centers due to the rise in self-service web or speech recognition technologies.
What is a microsite? Provide an example of a firm that is likely to benefit from the use of a microsite
What will be an ideal response?
Use the function ExpValue, defined below. If you apply this function to the data in the image, where Values = B2:B4, and Weights = A2:A4, what is the value of EV when t=2?
Public Function ExpValue(Values As Range, Weights As Range)
Dim t As Integer, VarCount As Integer, EV As Single
VarCount = Values.Count
EV = 0
For t = 1 To VarCount
EV = EV + Values(t) * Weights(t)
Next t
ExpValue = EV
End Function
a) $25
b) $50
c) $125
d) $225
e) $250
Which of the following is true about restraints of trade?
A) Some acts are illegal per se, but other actions must be judged by the rule of reason. B) Under the rule of reason, all restraints of trade are illegal. C) Under the per se rules, all restraints of trade are illegal. D) Price fixing is always judged by the rule of reason. E) Tying agreements are always illegal per se.