Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question text you have been provided with the foll

Question text You have been provided with the following statements regarding the absorption costing method...

90.2K

Verified Solution

Question

Accounting

image
image
Question text You have been provided with the following statements regarding the absorption costing method which is used for IFRS purposes. (i) Absorption costing is superior to variable costing method and results in continuous growth of the company (ii) Absorption costing method includes both variable and fixed manufacturing costs in the product cost (ii) Absorption costing may be used to manage and control effectively selling and administration costs of the company (iv) When absorption costing method is used, budgeted fixed manufacturing costs are recovered on the basis of budgeted number of units manufactured during the period or budgeted total production hours. Indicate which of the following statements are true

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students