9,10,11

QUESTION 9 3 poi Under absorption costing fixed manufacturing overhead costs are treated as: a. a line item expensed as it is incurred. Ob. inventory until sold. O c. inventory until used in work-in-process. d. a short-term liability on the balance sheet. Oe. a line item expensed immediately QUESTION 10 3 points rates to determine what should have happened at the actual activity level. Flexible budgets use actual activity at a. historical b. budgeted c. spending d. actual QUESTION 11 3 points The variable costing method is required by GAAP when preparing financial statements for external reporting True False