1)Which of the following best describes ABC costing?

Only manufacturing costs are assigned to products

Only non-manufacturing costs are assigned to products

All manufacturing and non-manufacturing costs are applied to products

Some but not all manufacturing and non-manufacturing costs are applied to products

Suppose production is less than sales volume. What is the relationship between net income

2) Calculating price and quantity variances will tell us: (chpt 10)

when the variance should be investigated

who specifically is responsible for each variance

that actual does not match planned performance

the precise cause of the variance