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Answer:
Under variable costing, fixed manufacturing overhead is expensed as period expenses.
Explanation:
Option <em>A</em> is wrong because under absorption costing, fixed manufacturing overhead is expensed as product expenses.
Option <em>B</em> is incorrect because Under variable costing, direct materials and direct labor are expensed as product expenses.
Option <em>C</em> is false because Fixed manufacturing overhead costs are treated as product cost under absorption costing and period cost under variable costing.
Therefore, option E is correct as fixed manufacturing overhead is expensed as period expenses under variable costing.
Answer:
A) Bruce's basis in the land at the time of the sale = $100,000 (same as his father's)
B) When computing his realized gain, what amount does Bruce use as the selling price and as the contract price?
Selling price= $360,000.
Contract price = $360,000 (selling price) - $120,000 (assumed mortgage) = $240,000.
C) Bruce's total realized gain on the sale = $360,000 - $10,000(selling costs) - $230,000(land + improvements) = $120,000
But his recognized gain in the year of the sale is = ($120,000 / $240,000) x $90,000 = $45,000
Answer:
Product development.
Explanation:
The product development stage is the initial part of a product life cycle. Market research is carried out at this stage to determine how well the product will sell in the market.
Product development stage involves the creation of a particular product from an idea and then introducing it into the market. Getting feedback about the product from test users is very important in this stage.
