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12)

Which one of the following expenses would most likely appear on a Selling and Administrative Expense Budget?

a.sales commissions

b.machine depreciation

c.indirect labour

d.indirect materials

64)

Which of the following terms would be found on an income statement using variable costing but never not on an income statement prepared using absorption costing?

a.Contribution margin

b.Gross profit

c.Fixed manufacturing overhead

d.Variable manufacturing overhead

Question 62

Which of the following statements if false?

a.Fixed manufacturing overhead is a period cost under absorption costing.

b.In full or absorption costing, all manufacturing costs are charged to the product.

c.Fixed manufacturing costs are not charged to the product under variable costing.

d.Full costing is equivalent to absorption costing.