true/ false Electricity purchased to operate factory machinery would be included

Question

true/ false Electricity purchased to operate factory machinery would be included as part of the cost of products manufactured under the absorption costing concept. t/f For a period during which the quantity of inventory at the end equals the inventory at the beginning, income from operations reported under variable costing will equal income from operations reported under absorption costing. t/f The taxes on the factory superintendent's salary would be included as part of the cost of products manufactured under the variable costing concept. t/f For a period during which the quantity of inventory at the end was larger than that at the beginning, income from operations reported under variable costing will be smaller than income from operations reported under absorption costing. t/f

Explanation / Answer

True
Electricity purchased to operate factory machinery would be included as part of the cost of products manufactured under the absorption costing concept.

False
For a period during which the quantity of inventory at the end was larger than that at the beginning, income from operations reported under variable costing will be larger than income from operations reported under absorption costing.

False
The taxes on the factory superintendent's salary would be included as part of the cost of products manufactured under the variable costing concept.

True
For a period during which the quantity of inventory at the end was larger than that at the beginning, income from operations reported under variable costing will be smaller than income from operations reported under absorption costing.

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