Variable Costing MCQs

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When production exceeds sales, the net income reported under absorption costing generally will be:






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Over an extended period of time, the net income figures reported under absorption costing will be:






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A company using the Just-in-Time (JIT) inventory methods likely would show the same net income under both absorption and variable costing because:






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During 2000, Jackson, Inc. produced 10,000 units of Zippy. Costs incurred by Jackson during 2000 were as follows: Direct materials, $10,000; Direct la...






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Product cost under variable costing includes:






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Selling and administrative expenses are considered to be:






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Westburg, Inc. manufactures a single product. Assume the following data for 2000: Variable costs per unit: Selling and administrative, $14; Product...






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Westburg, Inc. manufactures a single product. Assume the following data for 2000: Variable costs per unit: Selling and administrative, $14; Product...






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Westburg, Inc. manufactures a single product. Assume the following data for 2000: Variable costs per unit: Selling and administrative, $14; Product...






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During 2000, RonCo’s income under absorption costing was $2,000 lower than its income under variable costing. The company sold 8,000 units during th...