Exam 19: Variable Costing and Performance Reporting
Exam 1: Introducing Accounting in Business262 Questions
Exam 2: Analyzing and Recording Transactions213 Questions
Exam 3: Adjusting Accounts and Preparing Financial Statements230 Questions
Exam 4: Accounting for Merchandising Operations195 Questions
Exam 5: Inventories and Cost of Sales199 Questions
Exam 6: Cash and Internal Controls197 Questions
Exam 7: Accounts and Notes Receivable163 Questions
Exam 8: Long-Term Assets202 Questions
Exam 9: Current Liabilities184 Questions
Exam 10: Long-Term Liabilities185 Questions
Exam 11: Corporate Reporting and Analysis209 Questions
Exam 12: Reporting and Analyzing Cash Flows172 Questions
Exam 13: Analyzing Financial Statements184 Questions
Exam 14: Managerial Accounting Concepts and Principles202 Questions
Exam 15: Job Order Costing and Analysis153 Questions
Exam 16: Process Costing and Analysis185 Questions
Exam 17: Activity-Based Costing and Analysis173 Questions
Exam 18: Cost Behavior and Cost-Volume-Profit Analysis177 Questions
Exam 19: Variable Costing and Performance Reporting175 Questions
Exam 20: Master Budgets and Performance Planning158 Questions
Exam 21: Flexible Budgets and Standard Costing177 Questions
Exam 22: Decentralization and Performance Evaluation128 Questions
Exam 23: Relevant Costing for Managerial Decisions136 Questions
Exam 24: Capital Budgeting and Investment Analysis139 Questions
Exam 25: Investments and International Operations168 Questions
Exam 26: Accounting for Partnerships126 Questions
Exam 27 Appendix : Accounting With Special Journals153 Questions
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Variable costing separates the variable costs from fixed costs and therefore makes it easier to identify and assign control over costs.
(True/False)
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A variable costing income statement focuses attention on the relationship between costs and sales that is not evident from the absorption costing format.
(True/False)
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The data needed for cost-volume-profit analysis is readily available if the income statement is prepared under absorption costing.
(True/False)
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Contribution margin divided by sales equals contribution margin ratio.
(True/False)
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What are the benefits of using variable costing when striving to control costs? Are these benefits available under absorption costing?
(Essay)
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_______________________ is the amount remaining from sales revenues after all variable expenses have been deducted.
(Short Answer)
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Materials Corporation sold 12,000 units of its product at a price of $67 per unit. Total variable cost per unit is $54.94, consisting of $45.05 in variable production cost and $9.89 in variable selling and administrative cost. Compute the contribution margin for the company.
(Essay)
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Reported income is identical under absorption costing and variable costing when the units produced _______________ the units sold.
(Short Answer)
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When units produced are less than units sold, income under absorption costing is higher than income under variable costing.
(True/False)
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________________________ is a costing method that includes all manufacturing costs in unit product costs.
(Short Answer)
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Many companies link manager bonuses to income computed under absorption costing because this is how income is reported to shareholders.
(True/False)
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When units produced exceed the units sold, income under absorption costing is higher than income under variable costing.
(True/False)
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Cost information from both absorption costing and variable costing can aid managers in pricing.
(True/False)
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