Question:Which of the following is NOT a valid characteristic of variable costing (direct costing) for inventories for manufacturing firms?
A Production costs are classified into variable manufacturing costs and fixed manufacturing costs.
B The use of the owner's financial and income tax statements is generally accepted.
C Product costs contain only variable costs.
D Unusual patterns of income do not result because the number of units produced differs from the number of units sold.
+ AnswerB
+ Explanation
+ Report
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