How do absorption costing and variable costing differ in how they treat fixed manufacturing overhead costs?
Question:
How do absorption costing and variable costing differ in how they treat fixed manufacturing overhead costs?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Under absorption costing fixed manufacturing overhead costs are considered to ...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Introduction to Managerial Accounting
ISBN: 978-1259105708
5th Canadian edition
Authors: Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan
Question Posted:
Students also viewed these Business questions
-
How are absorption costing and variable costing the same? How are they different?
-
Consider the following information for Presidio Inc.'s most recent year of operations. Additional information for Presidio's most recent year of operations follows: Number of units...
-
Game Store manufactures video games that it sells for $38 each. The company uses a fixed manufacturing overhead allocation rate of $3 per game. Assume all costs and production levels are exactly as...
-
Goods 1 and 2 are available at dollar prices of p1 per unit of Good 1 and p2 per unit of Good 2. A utility function U(x 1 , x 2 ) is a function representing the utility or benefit of consuming xj...
-
Describe a situation and sketch a histogram to reflect each condition named below. a. Mound-shaped and symmetric b. Skewed left c. Skewed right d. Rectangular
-
A hospital made 225 medication errors last year. Of these errors, 30 percent were errors with the prescription, while 70 percent were errors made while dispensing the medication. The hospital...
-
Analyze how we communicate and interpret sophisticated information.(pp. 132134)
-
The December 31, 2011, balance sheet of Copepper's Inc. and additional information follow. These are the only accounts on Copepper's balance sheet. Amounts indicated by a question mark (?) can be...
-
A company issued 5,10-year bonds with a face amount of $600,000. The market yleld for bonds of similar risk and maturity is 6% Interest is paid semiannually. At what price did the bonds sell? 3
-
Decide whether each subset of R3 is linearly dependent or linearly independent. (a) (b) (c) (d) 4 3 5 277 104 00-I 221 4 5 20 990
-
A company purchased a new machine for $12,400. The expected useful life of this machine is six years with no salvage value . The new machines CCA rate is 17%. The company has a minimum after-tax...
-
Give an example of a direct exchange, and explain how such exchanges are handled when preparing a cash flow statement.
-
In Exercises 712, use the Quotient Rule to calculate the derivative. dw| dz |z=9 W = z z+z
-
Idenfity whether the following book - tax adjustments are permanent or temporary differences. ( a ) Federal Income Tax Expense ( b ) Depreciation Expense ( c ) Accrued Compensation ( d ) Dividends...
-
2 . ) Pozycki, LLC has reported losses of $ 1 0 0 , 0 0 0 per year since its founding in 2 0 1 6 . For 2 0 2 3 , Pozycki anticipates a profit of about $ 1 0 0 , 0 0 0 . There are 3 equal members of...
-
Elena is a single taxpayer for tax year 2023. On April 1st, 2022, Elena's husband Nathan died. On July 13, 2023, Elena sold the residence that Elena and Nathan had each owed and used as their...
-
Rodriguez Corporation issues 12,000 shares of its common stock for $56,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The...
-
Problem 3: A large rectangular plate is loaded in such a way as to generate the unperturbed (i.e. far-field) stress field xx = Cy; yy = -C x; Oxy = 0 The plate contains a small traction-free circular...
-
If E[X] = 1 and Var (X) = 5, find a. E[(2 + X)2]; b. Var(4 + 3X).
-
Consider the reaction of acetic acid in water CH 3 CO 2 H(aq) + H 2 O(l) CH3CO 22 (aq) + H 3 O + (aq) where Ka 5 1.8 3 1025. a. Which two bases are competing for the proton? b. Which is the stronger...
-
Describe the four key steps shown in a production cost report assuming the weighted average method is used.
-
What two important amounts are determined in step 4 of the production cost report?
-
Describe the basic cost flow equation and explain how it is used to reconcile units to be accounted for with units accounted for.
-
Which of the following statements regarding traditional cost accounting systems is false? a. Products are often over or under cost in traditional cost accounting systems. b. Most traditional cost...
-
Bart is a college student. Since his plan is to get a job immediately after graduation, he determines that he will need about $250,000 in life insurance to provide for his future wife and children...
-
Reporting Financial Statement Effects of Bond Transactions (please show me how you got the answers) Lundholm, Inc., which reports financial statements each December 31, is authorized to issue...
Study smarter with the SolutionInn App