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3 years ago

Consider the following statements about absorption- and variable-costing income:_______.

Business

1 answer:

-Dominant- [34]3 years ago

8 0

Answer:

Absorption and Variable Costing Income:

The true statements are:

D) I and II.

Explanation:

If these two figures (production and sales volumes) are equal, the implication is that there are no beginning and ending inventories of goods. Therefore, the yearly income reported under the two costing systems will be the same.

The claim of statement II is that it is only in the long-run that the total income reported under the two systems will be close to each other. This holds true where there are beginning and ending inventories of goods as established earlier.

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