To Convert Variable Costing Net Income to Absorption Costing Net

question 160

Short Answer

To convert variable costing net income to absorption costing net income,________ the fixed production cost in ending inventory and ________ the fixed production cost in beginning inventory.

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Definitions:

Biological Trait

A characteristic or feature of an organism that is inherited from its parents and can be physically observed or measured.

External

Referring to or situated on the outside of something; coming or deriving from a source outside the subject affected.

Out-Group

A group of people excluded from or not belonging to one's own group, often leading to us vs. them mentality.

In-Group

A social group to which a person psychologically identifies as being a member.