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Indicate whether each of the following descriptions applies only to variable costing (V), only to...

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Accounting

Indicate whether each of the following descriptions applies only to variable costing (V), only to absorption costing (A), to both variable and absorption costing (B), or to neither variable nor absorption costing (N). (For overall assignment grading purposes, this question will not be marked as "incorrect," if eight of the ten component parts are correctly answered.)

Shows gross profit as a major subtotal.

Inventories direct materials costs.

Is the basis for CVP analysis.

Treats fixed selling and administrative expenses as period costs.

Inventories fixed overhead

Is influenced by the number of units produced.

Treats fixed overhead as a period cost.

Inventories direct labor costs.

Capitalizes variable selling and administrative costs.

Capitalizes variable overhead costs.

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