Fill in the Blank QuestionFill in the blank question.Under the (absorption,variable) costing method only variable costs are assigned to products.

VARIABLE COSTING

Fill in the Blank QuestionFill in the blank question.In costing, only costs that change in total with changes in production levels are included in product costs.

Multiple Choice QuestionThe formula to convert income from variable to absorption costing is:Multiple choice question.income under variable costing plus variable overhead in ending finished goods inventory minus variable overhead in beginning finished goods inventory.income under variable costing plus fixed overhead in beginning finished goods inventory minus fixed overhead in ending finished goods inventory.income under variable costing plus fixed overhead in ending finished goods inventory minus fixed overhead in beginning finished goods inventory.

Fill in the Blank QuestionFill in the blank question.Regardless of whether variable costing or absorption costing is used, if quantity produced differs from quantity sold, income will be (similar, different, indeterminable).

Multiple Choice QuestionWhich costing method can be helpful to management in setting prices because it reflects full costs that sales must exceed for the company to be profitable?Multiple choice question.Absorption costingVariable costing