question archive Which of the following statements are true and which are false? (10 point) 1
Which of the following statements are true and which are false? (10 point) 1
Subject:AccountingPrice: Bought3
Which of the following statements are true and which are false? (10 point) 1. The use of absorption costing can result in misleading product cost information. [ ] 2. Variable costing treats fixed overhead cost as a period cost. [ ] 3. When units produced equal units sold reported income is identical under absorption costing [l and variable costing. 4. To convert variable costing income to absorption costing income, management will need to [] change the way fixed overhead costs are treated. 5. At break-even point, a particular point in which total revenue and total cost are equal [ ] 6. The high-low method involves taking the highest level of activity and the lowest level of [] activity and comparing the total costs at each level. 7. Activity-based costing (ABC) is a method of assigning overhead and indirect costs to [] products and service. 8. Mixed costs are costs that contain both a variable and a fixed cost component and change [] overall, but not in proportion, to changes in the level of activity. 9. Fixed costs are costs that differ directly and proportionately with changes in activity levels. [ ] 10. In cost-volume-profit analysis, the number of units sold is assumed to be equal to the number [ ] of units produced
