fixed costs (F), variable costs (V), or mixed costs(M).

Shop rags purchased and used to clean production equipment are classified as what type of cost? Multiple Choice period cost. direct material cost. indirect material cost. opportunity cost.

What is meant by Activity Based Costing? How does it differ from Absorption costing? Is it suitable for an insurance services company?

Under variable costing, all fixed manufacturing costs are treated as a a. product cost included in the cost of goods manufactured. b. product cost included in the cost of ending inventory. c. period expense deducted from manufacturing margin. d. period expense deducted from contribution margin.