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Nội dung bài làm

Marginal costing and absorption costing are different techniques for assessing profit
in a period. If there are changes in inventory during a period, marginal costing and
absorption costing give different results for profit obtained.
Which of the following statements are true?
I. If inventory levels increase, marginal costing will report the higher profit.
II. If inventory levels decrease, marginal costing will report the lower profit.
III. If inventory levels decrease, marginal costing will report the higher profit.
IV. If the opening and closing inventory volumes are the same, marginal costing and
absorption costing will give the same profit figure.
Answer: III , IV
I. If inventory levels increase, marginal costing will report the higher profit.
- FASLE
EXPLAIN : If inventory levels increase, absorption costing gives the higher profit. If
inventory levels decrease, marginal costing gives the higher profit. If inventory levels are
constant, both methods give the same profit.
II. If inventory levels decrease, marginal costing will report the lower profit.
- FASLE
EXPLAIN : This is because fixed overheads held in closing inventory are carried forward
(thereby reducing cost of sales) to the next accounting period instead of being written off
in the current accounting period (as a period cost, as in marginal costing). If inventory
levels decrease, marginal costing gives the higher profit.
III. If inventory levels decrease, marginal costing will report the higher profit.
-TRUE
EXPLAIN : The marginal cost of each subsequent unit of output is smaller than the
previous unit of output. Marginal cost decreases with increasing output. Later, when
these advantages are fully exploited, new costs arise due to the large scale of output,
marginal costs will inevitably increase as output increases.
IV. If the opening and closing inventory volumes are the same, marginal costing and
absorption costing will give the same profit figure.
-TRUE
EXPLAIN : Marginal costing is an alternative method of costing to absorption costing. In
marginal costing, only variable costs are charged as a cost of sale and a contribution is
calculated (sales revenue minus variable cost of sales). Closing inventories of work in
progress or finished goods are valued at marginal (variable) production cost. Fixed costs
are treated as a period cost, and are charged in full to the profit and loss account of the
accounting period in which they are incurred.