Which of the following is NOT a valid characteristic of variable costing (direct costing) for inventories for manufacturing firms? - Inventory Management

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Inventory Management MCQs

Which of the following is NOT a valid characteristic of variable costing (direct costing) for inventories for manufacturing firms?

Production costs are classified into variable manufacturing costs and fixed manufacturing costs.

The use of the owner's financial and income tax statements is generally accepted.

Product costs contain only variable costs.

Unusual patterns of income do not result because the number of units produced differs from the number of units sold.

Answer

Correct Answer: The use of the owner's financial and income tax statements is generally accepted.

Explanation:

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