15) The costing approach that meets the requirements of financial accounting and tax reporting requirements is: Variable costing. absorption costing Throughput costing Standard costing 39) Why was labour hours used to allocate overheads Your answer 10) The main idea underlying of the lean business model is the elimination of waste and improving quality True False 1) Name one difference between ABC Costing and Single Plantoverhead rate method Your answer 45) If the per-unit Selling Price has been increased and all other costs remain the same. Yet, the Manager realizes that profits are decreasing. Provide an explanation as to why this would be so? Your answer 5) ABC Costing is not as accurate as Single Plant overhead rate True False 35) Name a document to transfer goods from Storeroom to Production or WIP Your