Under variable costing and absorption costing

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Reference no: EM132144791

1. Under variable costing, which of the following is not considered a product cost?

Direct materials

Direct labor

Fixed manufacturing overhead

Variable manufacturing overhead

2. Under absorption costing, which of the following is not considered a product cost?

Direct labor

Fixed manufacturing overhead

Variable manufacturing overhead

Administrative costs

3. ISO 9000 is a family of standards, developed by the International Organization for Standardization, representing an international consensus on good quality management practices.

true or false

4. The break-even point is the output volume level where the firm realizes a $0 net profit.

true or false

Reference no: EM132144791

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