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How is the contribution margin calculated when utilizing variable costing? a. Sales less variable cost of goods sold b. Sales less cost of goods sold c. Sales less variable cost of goods sold, less variable selling and administrative expenses, less fixed cost of goods sold, less fixed selling, and administrative expenses. d. Sales less variable cost of goods sold, less variable selling and administrative expenses.

How is the contribution margin calculated when utilizing variable costing? a. Sales less variable cost of goods sold b. Sales less cost of goods sold c. Sales less variable cost of goods sold, less variable selling and administrative expenses, less fixed cost of goods sold, less fixed selling, and administrative expenses. d. Sales less variable cost of goods sold, less variable selling and administrative expenses.

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 5MC: In the application of lower-of-cost-or-market, market is the (a) lowest sales price. (b) highest...
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How is the contribution margin calculated when utilizing variable costing? a. Sales less variable cost of goods sold b. Sales less cost of goods sold c. Sales less variable cost of goods sold, less variable selling and administrative expenses, less fixed cost of goods sold, less fixed selling, and administrative expenses. d. Sales less variable cost of goods sold, less variable selling and administrative expenses.
Transcribed Image Text:How is the contribution margin calculated when utilizing variable costing? a. Sales less variable cost of goods sold b. Sales less cost of goods sold c. Sales less variable cost of goods sold, less variable selling and administrative expenses, less fixed cost of goods sold, less fixed selling, and administrative expenses. d. Sales less variable cost of goods sold, less variable selling and administrative expenses.
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