Which of the Following Statements Is False Regarding Variable Costing

question 36

Multiple Choice

Which of the following statements is false regarding variable costing?

• A) Variable overhead is treated as a product cost.
• B) Variable costing is required for external financial statements prepared in accordance with generally accepted accounting principles (GAAP).
• C) Fixed manufacturing overhead is treated as a period cost.
• D) Period costs are expensed as they are incurred.

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