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Which costing method assigns all manufacturing costs to the product?

Practice Questions

Q1
Which costing method assigns all manufacturing costs to the product?
  1. Variable costing
  2. Absorption costing
  3. Marginal costing
  4. Activity-based costing

Questions & Step-by-Step Solutions

Which costing method assigns all manufacturing costs to the product?
  • Step 1: Understand what manufacturing costs are. These include all costs related to making a product, such as materials, labor, and overhead.
  • Step 2: Learn about different costing methods. There are various ways to calculate the cost of a product.
  • Step 3: Identify absorption costing. This method includes all manufacturing costs (both fixed and variable) in the total cost of the product.
  • Step 4: Recognize that absorption costing is comprehensive because it captures every cost associated with production.
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