Chapter 9: Absorption/Variable Costing
Chapter 9: Chapter 9: Absorption/Variable CostingH 13 1Horngren 13eABSORPTION Costing Absorption Costing is required for external financial reports and for tax reporting. Under absorption Costing , product costs include allmanufacturing costs: Direct materials. Direct labor. variable manufacturing overhead. Fixed manufacturing overhead. Under absorption Costing , the following costs are treated as period expenses and are excluded from dproduct costs: variable selling and administrative costs. Fixed selling and administrative COSTINGVARIABLE Costing variable Costing is an alternative for internal management reports. Under variable Costing , product costs include only the variablemanufacturing costs: Direct l b ( lfi d) Directlabor(unlessfixed).
Chapter 9: Absorption/Variable Costing 3 H 1 1 Horngren 13e ABSORPTION COSTING • Absorption costing is required for external financial reports and for tax reporting.
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