Which of the following costing methods charges all the manufacturing costs to the products?
A) variable costing
B) direct costing
C) absorption costing
D) contribution costing
C) absorption costing
You might also like to view...
Direct materials cost that varies with the number of units produced is an example of a fixed cost of production
Indicate whether the statement is true or false
____ decides how much inventory should be kept on hand by the business
A) Finance manager B) Operations/production manager C) Marketing manager D) Human resource manager
Rather than a single good for the exchange rate, economists use the concept of ________ as the price base for the exchange rate
A) a pair of shoes B) the price of a barrel of oil C) a basket of goods D) the S&P 500 Index
Wears Corporation uses a job-order costing system and has provided the following partially completed T-account summary for the past year.
The Cost of Goods Manufactured for the year was $537,000.Required:What was the Cost of Goods Sold for the year?
What will be an ideal response?