Question: Why is variable costing used for internal reports? A. It can also be used for external reports. B. It is readily available through most computer

Why is variable costing used for internal reports?

It can also be used for external reports.

It is readily available through most computer systems.

It removes the impact of changing inventory levels from the financial results.

B and C

Step by Step Solution

★★★★★

3.47 Rating (150 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

D is the correct answer Variable cost is constant if expressed on ... View full answer

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

Document Format (2 attachments)

PDF file Icon

608c00a388294_208698.pdf

180 KBs PDF File

Word file Icon

608c00a388294_208698.docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Q:

Why is variable costing a better support for short-term planning and decision making than absorption costing?

Q:

Why is variable costing used only for internal reporting and not for external financial reporting?

Q:

A firm uses variable costing for internal reports and updates these reports daily. It must convert the variable costing results to absorption costing results for external reports. How can this...

Q:

Reviews for movies are readily available through newspapers, magazines, blogs, and other print sources. Metacritic.com provides full reviews for a multitude of movies. Find a review for a film,...

Q:

Reviews for movies are readily available through newspapers, magazines, blogs, and other print sources. Metacritic.com provides full reviews for a multitude of movies. Find a review for a film,...

Q:

Responsibility Center Presentation Imagine you have been selected by your manager to present a training session to a group of new employees. The new hires do not have accounting backgrounds and have...

Q:

Mastery Problem: Variable Costing for Management Analysis Absorption vs. Variable Operating income is one of the most important items reported by a company. Depending on the decision-making needs of...

Q:

Listen to the following videos and then complete the assignments using the changed numbers on the guidance report. Place your answers on the guidance report. Open the Guidance Report and rework the...

Q:

Mastery Problem: Variable Costing for Management Analysis Absorption vs. Variable Operating income is one of the most important items reported by a company. Depending on the decision-making needs of...

Q:

Weeks 3-4 - Chs 7-10 Mastery MP.07.01.ALGO MP.08.01.ALGO MP.09.01.ALGO MP.10.01.ALGO Hide or show questions Progress:1/4 items Mastery Problem: Variable Costing for Management Analysis Absorption vs....

Q:

1. Snacks Inc. has a mean expected return of 15%, with a standard deviation of 2%. The CFO is going to the bank to discuss a large loan. The banker asks what range of returns, with a 99% confidence...

Q:

W A planar wall (kw = 10- mK' , Lw = 0.5 m) is insulated on one side (q(0) = 0), with a known temperature on both sides (T(0) = 200C, T(L) = 50C). You know that the temperature profile is as follows:...

Q:

A county government hires lawyers to defend itself in lawsuits. The local government provides its legal staff with an office building. The table below shows how many cases can be handled with...

Q:

We are at the halfway point of this course and nearly through your time with SDI. It is the perfect time to pause and reflect. Reflect upon the learning experiences you have had so far in your SDI...

Q:

You are a project manager at Unisa Mining Solutions (UMS) and you are in a fairly good mood. Your firm develops systems to help miming firms reduce their exploration costs, and you have just returned...

Q:

For the following data, draw (by hand) the histograms for X1 and X2 and the scatterplot for X1 versus X2. Which variable(s) do think is (are) normal? Explain. X1 X2 3.9 2.5 2.7 5.1 3.4 5.6 3.3 7 3.4...

Q:

11) Larry Matt complet estas transacciones durante diciembre del ao en curso: 1 de diciembre Comenz una prctica de servicios financieros al invertir $15,000 en efectivo y equipo de oficina con un...

Q:

After looking at the resources, explain what a spirit image is. Why might looking at a god and/or a human in terms of their spirit be helpful if you want to eliminate some of the divisions between...

Q:

The head of the Warehousing Division of the Lackton Co. was concerned about some cost-behaviour information given to her by the new assistant controller, who was hired because of his recent training...

Q:

Gloria Cosmetics uses a normal cost system and has the following balances at the end of its first years operations: Work-in-process inventory ....................$200,000 Finished-goods inventory...

Q:

The managing partner of Brenda McCoy Accounting is considering the desirability of tracing more costs to jobs than just direct labour. In this way, the firm will be better able to justify billings to...

Q:

A T-bill with 125 days remaining to maturity is discounted to yield 4.6% simple interest. What is the effective annualized rate of return on the T-bill?

Q:

A companys annual report states that its common shares had price gains of 23%, 10%, -15%, and 5% during the preceding four fiscal years. The share price stood at $30.50 after last years 5% gain. a....

Q:

If the S&P/TSX Composite Index declined from 14,614 to 14,238 over a 50-day period, what were the simple and effective annualized rates of decline in the index during the period?