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Which statements about marginal costing are correct?
1. The marginal cost of a product involves an allowance for fixed overheads.
2. The marginal cost of a product presents the additional cost of making one extra unit.
3. If inventory decreases throughout a period, the profits under absorption costing will be lower than under marginal costing.
A. 1 only
B. 1, 2 and 3
C. 2 only
D. 2 and 3 only
A time of 12 consecutive months used by an organization to account for and report the results of its operations.
How do you round up to one decimal point using percentages? Example 0.207 Thanks
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