Which of the Following Are Considered to Be Product Costs

question 191

Multiple Choice

Which of the following are considered to be product costs under variable costing?
I.Variable manufacturing overhead.
II) Fixed manufacturing overhead.
III) Selling and administrative expenses.

• A)I.
• B)I and II.
• C)I and III.
• D)I,II,and III.

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Definitions:

Capital Market

A financial market in which long-term debt or equity-backed securities are bought and sold, crucial for raising capital.

Entrepreneurs

Individuals who initiate, manage, and assume the risks of starting and running new businesses.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured by GDP.

Economic Development

The approach a nation takes to boost the economic, political, and social welfare of its inhabitants.