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3 years ago

14

Which of the following are considered to be product costs under absorption costing? I. Variable manufacturing overhead. II. Fixe

d manufacturing overhead. III. Selling and administrative expenses.

1 answer:

gavmur [86]3 years ago

8 0

Answer:

I and II

Explanation:

The key costs assigned to products under an absorption costing system are:

Direct materials. Those materials that are included in a finished product.

Direct labor. The factory labor costs required to construct a product.

Variable manufacturing overhead. The costs to operate a manufacturing facility, which vary with production volume. Examples are supplies and electricity for production equipment.

Fixed manufacturing overhead. The costs to operate a manufacturing facility, which do not vary with production volume. Examples are rent and insurance.

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Answer:

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