Chapter 7: Variable Costing and Segment Reporting Flashcards
1
Q
is a part or activity of an organization about which managers would like cost, revenue, or profit data.
A
Segment
2
Q
only those manufacturing costs that vary with output are treated
as product costs.
A
Variable Costing
3
Q
treats all manufacturing costs as product costs, regardless of whether
they are variable or fixed.
A
Absorption Costing
4
Q
Used for internal decision making purposes;
A
Variable Costing
5
Q
Accounts costs by function;
A
Absorption costing
