Which of the following is true about absorption costing? * No fixed factory overhead is charged to production. O It is also known as direct costing. The term used to designate the difference between...

17

Extracted text: Which of the following is true about absorption costing? * No fixed factory overhead is charged to production. O It is also known as direct costing. The term used to designate the difference between sales and cost of goods sold is the "manufacturing margin" O Over-applied factory overhead is reflected in the income statement as a reduction from cost of good sold.