Financial Account Subject Which of the following does NOT appear on anincome statement prepared using variablecosting?A. Fixed production costsB. Contribution marginC. Gross marginD. Variable production costs

In variable costing, gross margin does not appear because it is calculated using absorption costing,…

Answered: Which of the following does NOT appear…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 17MC: In the cost equation Y=a+bx, Y represents which of the following? A. fixed costs B. variable costs...

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In the cost equation Y=a+bx, Y represents which of the following? A. fixed costs B. variable costs C. total costs D. units of production
For which cost concept used in applying (he cost-plus, approach to product pricing are fixed manufacturing costs, fixed selling and administrative expenses, and desired profit allowed for in determining the markup? A. Total cost B. Product cost C. Variable cost D. Standard cost
Under the weighted average method, how are prior-period costs and output treated? How are they treated under the FIFO method?
Under the weighted average method, how are prior-period costs and output treated? How are they treated under the FIFO method?
Which of the following does NOT appear on an income statement prepared using variable costing? A. Fixed production costs B. Contribution margin C. Gross margin D. Variable production costs
A cost which changes in proportion to changes in volume of activity is called a: * a. fixed cost b. controllable cost c. variable cost d. opportunity cost
Which of the following best describes a fixed cost? a.Cost representing a fixed proportion of total costs b.Cost directly related to output c.Cost that remains at the same level up to a particular level of output . d.Cost that remains at the same level when output increases.
2. The following total cost graphs indicate which type of cost behavior? A. VARIABLE COST B. FIXED COST C. MIXED COST D. STEP COST
Which of the following best describes a variable cost? A cost that: a. Represents a fixed proportion of total costs b. Has a direct relationship with outputc. Is sometimes also known as an indirect cos d. Falls on average, as output increases.
Following GAAP, the income statement issued to investors and creditors must OA. be prepared in the contribution margin format OB. be prepared using variable costing OC. show the value of contribution margin OD. be prepared in the traditional format
Which of statements about the contribution income statement is correct? Group of answer choices Costs are classified as being either product or period. Costs are classified as being either fixed or variable. It is required by GAAP. It is intended for external users.
d. Perpetual system, LIFO cost flow. e. Periodic system, weighted-average cost flow. f. Perpetual system, moving-average cost flow.

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Which of the following does NOT appear on an income statement prepared using variable costing? A. Fixed production costs B. Contribution margin C. Gross margin D. Variable production costs