Which statements accurately compare the advantages of absorption costing and marginal costing?
- Aabsorption costing: avoids the need to separate fixed costs and variable costs; marginal costing: useful when there is a limiting factor affecting production
- Babsorption costing: is a recognised method of valuing inventory; marginal costing: ensures fixed costs are attributed to cost centres
- Cabsorption costing: useful for determining selling price; marginal costing: is a recognised method of valuing inventory
- Dabsorption costing: useful for short-term decision-making; marginal costing: useful for determining selling price