Question: 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

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 because absorption costing is required by GAAP and the IRS.

Why is absorption costing not used for CVP analysis?

CAN YOU EXPAND THIS SENTENCE: Absorption costing is not used in break-even analysis because it presents a classification of costs by function rather than by behavior. Without a behavioral classification of costs, it is impossible to predict how total costs change as volume changes.

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!

Would like your help. Need help with study guides. Thanks. FINANCIAL AND MANAGERIAL ACCOUNTING - Fifth Edition E22-32 Requirements 1. Prepare a budgeted income statement with columns for 1,300 units,...

I need some help with both Case 1 and Case 2 of this assignment. See attached document for full assignment. Here is an excerpt from each. Case 1: Purchase Point Media Corporation (PPMC) Media...

Write an engagement letter of no more than 1,050 words for a Section 404 audit of Apollo Shoes. Assume that Apollo Shoes is a publicly traded company for which the SEC requires an audit of internal...

Apollo case studies the question is on page 44 Apollo case studies the question is on page 44 Apollo case studies the question is on page 44 APOLLO SHOES, INC. An Audit Case to Accompany AUDITING AND...

Hi! I need help for this assignment, please let me know if WEEK 6 WILEYCPA Ownership of 51% of the outstanding voting stock of a company would usually result in The use of the cost method. The use of...

In December 1995, the flamboyant entrepreneur Michael "Mickey" Monus, formerly president and chief operating officer (COO) of the deep-discount retail chain PharMor, Inc., was sentenced to 19 years...

Need help with Management Accounting assignment (need excel part completed)!!! AYB225 ASSIGNMENT SEMESTER 1 2015 ALL DATA RELATES TO THE PERIOD UNDER CONSIDERATION IN THIS REVIEW, AND ACTUAL AND...

Looking for accounting tutor to complete this assignment. Need and A grade for reasonable price given easy deadline. AYB225 ASSIGNMENT SEMESTER 1 2015 ALL DATA RELATES TO THE PERIOD UNDER...

I am stuck with schedule 2 and 3 for this assignment. I've tried many times but my answers are always wrong for the two schedules. Please help me. - Schedule 2: ? Calculation of standard costing cost...

Please make a report under YOUR REPORT section: the 3 questions that are needed to answer were encircled. Product Costing at Fine Foods: Is It a Symptom or the Problem? David Axelsson is the...

Situation The Perry Park Company (a privately-held company) was searching for a way to expand its operating capacity even though it was short of cash. The president of the company was playing golf...

An interested student used the method of least squares to fit the straight line = 850.7 + 320.3 x to gross domestic product, y, in real dollars. The results for 26 recent years, x = 1,2,..., 26,...

In calculating the profit margin, net income is a . subtracted from cost of goods sold. b . added to profits. c . divided by sales. d . subtracted from sales.

Elizabeth Island Airways scher. Ellermalogenal airine serving the New England area, recently suffered a major cras. As a result passengers are considered to be shy choose As there comer when making...

Set up a debate between yourself and three other colleagues with two of you arguing in favour of your pay being affected by the performance management scheme and the other two arguing that it should...

Imagine you are a manager at Sainsburys (case study 5.1) at the meeting where the scheme is being explained. Make a list of questions that you would want to ask to satisfy yourself that the scheme is...

Discuss with two of your colleagues which benefi ts are the most important ones to offer, putting them in a league table of importance. Justify your decisions.