Question: For internal reporting costing is used; while for external reporting costing is used. a . Internal: variable; External: variable or absorption b . Internal: variable

For internal reporting costing is used; while for external reporting costing is used.
a.
Internal: variable; External: variable or absorption
b.
Internal: variable or absorption; External: absorption
c.
Internal: variable or absorption; External: variable
d.
Internal: absorption; External: variable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

PLEASE EXPAND THESE SENTENCES/ANSWERS Why is variable costing not used extensively in external reporting? CAN YOU EXPAND THIS SENTENCE: Variable costing is not used extensively outside of the firm...

Q:

Daveco, Inc. manufactures cylindrical automotive cell batteries used in electrical vehicles ( EV ) , under the brand name Lumix 0 . After several years of manufacturing and selling Lumix 0 , the...

Q:

Requirements: To determine Daveco Inc.'s risks and opportunities surrounding Lumb0. perform the following: 1. Using an absorption costing approach and a variable costing approach, prepare income...

Q:

Mastery Problem: Variable Costing for Management Analysis Question Content Area Absorption vs. Variable Operating income is one of the most important items reported by a company. Depending on the...

Q:

Question 12: TRANSFER PRICING Exercise 2 from Week 9 Tutorial is an excellent example of transfer pricing method variations. This is repeated here for your consideration. Solutions have been provided...

Q:

What is the difference between full absorption costing and variable costing? Variable costing must be used for external financial reports while full absorption costing can only be used for internal...

Q:

when absorption costing is used ? Net relevant costs are $3 per unit. Question 4 (1 point) When absorption costing is used: and production exceeds sales, absorption costing reports a lower net income...

Q:

QUESTION 1 Super Drive is a computer hard drive manufacturer. The company's balance sheet for the fiscal year ended on November 30 appears below: Super Drive Statement of Financial Position (Balance...

Q:

When absorption costing is used a for external reporting variable costing can still be used for internal reporting purposes B management may be tempted to overproduce in a given. Period in order to...

Q:

can you please help me with number 70,69,68,67 Question 70 (2 points) ABC Company produces 1,000 parts per year for use in its own finished goods. The variable product cost of these parts is $15 per...

Q:

Gigi and Sue started Granny Apple Delicious, Inc., on January 1, 2011, to sell their famous applesauce. The following transactions occurred during the year: a. Gigi and Sue started the business by...

Q:

Using the future values tables, solve the following: Required 1. What is the future value on December 31, 2016 of 10 cash flows of $20,000 with the first cash payment made on December 31, 2007 and...

Q:

Josh asked the neighbor to help sell his single - family house in Houghton and promised to pay $ 1 , 0 0 0 to the neighbor if: i . the neighbor can find a seller within 3 months; ii . the selling...

Q:

What process and tools can be used to measure, track and evaluate the impact, results and outcomes of this project / program.

Q:

1. As a class, discuss how you communicate with people both online and face to face. What differences can you identify in how you communicate in each medium? What differences can you identify in how...

Q:

How many people share a car in your family? How many cars are there in the United States?

Q:

How is seating arranged in restaurants? Are there large communal eating areas or private tables and booths for individuals or small groups?