Question: With one exception, the differences between variable and full absorption costing are listed below. Which answer is the exception? Variable costing has Cost of Goods

With one exception, the differences between variable and full absorption costing are listed below. Which answer is the exception?

  • Variable costing has Cost of Goods Sold (COGS) as a component.
  • Variable costing expenses manufacturing overhead when the manufactured product is sold.
  • Full absorption costing falls under GAAP.
  • Full absorption costing expenses manufacturing overhead when the manufactured product is sold.

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