Question: Managers can use variable costing information for internal decision making, but they must use absorption costing for external reporting purposes. True or False

Managers can use variable costing information for internal decision making, but they must use absorption costing for external reporting purposes. True or False

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!

Which of the following statements is not true? a . A break - even point can be calculated either in units or in dollars of sales. bCost - volume - profit analysis can be used by management to predict...

Which of the following statements is not true? a. A break-even point can be calculated either in units or in dollars of sales. b. Cost-volume-profit analysis can be used by management to predict how...

COST ACCOUNTING I. THEORIES Cost and management accounting a . Require an entirely separate group of accounts than financial accounting uses. b . Provide product / service cost information as well as...

Hi, i attached two attachments, in order to answer the 6 questions please read or review the reading assignment. thank you. ASSIGMENT # 306 Q : 1 What is meant by the "possible states of nature? (...

Hi, i attached my assignment , in order to answer of these questions you need to review or you can take help from reading assignment. thank you. ASSIGMENT # 306 Q : 1 What is meant by the "possible...

Problem 18.30 Absorption- and Variable-Costing Income Statements Objective 4 San Mateo Optics, Inc., specializes in manufacturing lenses for large telescopes and cameras used in space exploration. As...

(1) The Quality of Financial Information Referencing this week?s readings and lecture, describe the quality issues related to reporting revenue. What is the importance of understanding various...

List four basic financial statement analysis procedures, describe how you would calculate each procedure and discuss why you would use each procedure. In your initial response, please do not use...

1 For external reporting purposes, your company uses Absorption Costing with Actual Costing. For internal reporting purposes, your company uses Variable Costing with Standard Costing. Which of the...

A block of mass m slides upward along a frictionless incline of length D and angle of inclination 0. While on the incline the block encounters a force of air resistance given by F. = kmv?. The block...

For a normal distribution, a. Find the z -score for which a total probability of 0.02 falls more than z standard deviations (in either direction) from the mean, that is, below - z or above + z. b....

Question True or false? Fermanent tax culs cannot be changed in the flature. Select the correct answer below: Thue Talse

Q What is the function of anti-pumping in the circuit breaker?