For product-costing purposes, which of the following statements is true?
a. Only standard variable overhead costs are included since these costs change in response to cost drivers.
b. Standard costing is not permissible under generally accepted accounting principles (GAAP).
c. Under the absorption or full-costing approach it is necessary to "unitize" fixed overhead costs.
d. Total fixed overhead costs are applied to production (output) as a "lump-sum" amount.
e. The amount of standard fixed overhead costs for product-costing and for control purposes is the same.
c. Under the absorption or full-costing approach it is necessary to "unitize" fixed overhead costs.
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Prior to the introduction of consultative selling and the partnering era, closing was often presented as:
A) less relevant than strategy B) a type of win-win negotiation C) an unnecessary aspect of selling D) a minor component of personal sales E) the most important aspect of the sales process
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Indicate whether the statement is true or false