Question 7 Which of the following costs would be applied to manufactured inventory under variable...
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Question 7 Which of the following costs would be applied to manufactured inventory under variable costing? Commissions to sales persons 2) Cost of raw materials 3) Salary of factory manager Rental payments on factory 5) Rental payments on administrative offices Question 8 Which of the following correctly represents how to calculate absorption net income? Variable net income + (Change in Inventory units x Fixed Overhead Rate) 2) Variable net income - (Change in Inventory units x Fixed Overhead Rate) 3) Variable net income + (Change in Inventory units x Variable Overhead Rate) 4) Variable net income - (Change in Inventory units x Variable Overhead Rate) 5) None of the above uestion 9 Question 9 Under absorption costing, which of the following costs are applied to manufactured inventory? 1All period costs All fixed costs 3) All variable costs 4) All administrative costs 5) All manufacturing costs Question 10 -13 Which of the following costs would not be subtracted from Revenue to calculate Gross Profit on an Absorption Income Statement? Direct Materials costs 2) Sales commissions 3) Variable Manufacturing Overhead 4 Direct Labor Wages S All of the above would be subtracted
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