For Product-Costing Purposes, Which of the Following Statements Is True

Multiple Choice

For product-costing purposes, which of the following statements is true?

A) Under the absorption or full-costing approach it is necessary to "unitize" fixed overhead costs.
B) The amount of standard fixed overhead costs for product-costing and for control purposes is the same.
C) Only standard variable overhead costs are included since these costs change in response to cost drivers.
D) Standard costing is not permissible under generally accepted accounting principles (GAAP) .
E) Total fixed overhead costs are applied to production (output) as a "lump-sum" amount.