1.

For absorption costing the product cost per unit equals

		Direct materials , fixed overhead & variable overhead divided by units produced
		Direct materials, direct labor &, variable overhead divided by units produced
		Direct labor, fixed overhead &, direct materials divided by units produced
		Direct labor, direct materials, fixed and variable overhead divided by units produced

2.

If ABC costing is a way of

		allocating materials
		allocating direct materials
		allocating overhead
		saving time

3.

In absorption income statements

		fixed overhead is part of product costs
		fixed costs are deducted from the contribution margin
		fixed costs are ignored
		fixed costs are part of product costs

4.

Fixed overhead is a period cost deducted in the period in which it is incurred.

		constant costing
		absorption costing
		variable costing
		GAAP statement