Matching
Match the following definitions with the appropriate terms
Premises:
Sales less cost of goods sold.
A specific number of units sold that produces total income equal to zero.
Sales less variable production costs.
A costing method that includes all manufacturing costs.
Costs that are expensed in the period they are incurred.
Sales less variable expenses.
A costing method that includes only variable manufacturing costs.
Direct labor, direct materials, and manufacturing overhead.
An income statement format that focuses on cost behavior.
Contribution margin divided by sales.
Responses:
Absorption costing
Variable costing
Contribution margin
Contribution format
Manufacturing margin
Contribution margin ratio
Break-even point
Product costs
Period costs
Gross margin
Correct Answer:
Premises:
Responses:
Sales less cost of goods sold.
A specific number of units sold that produces total income equal to zero.
Sales less variable production costs.
A costing method that includes all manufacturing costs.
Costs that are expensed in the period they are incurred.
Sales less variable expenses.
A costing method that includes only variable manufacturing costs.
Direct labor, direct materials, and manufacturing overhead.
An income statement format that focuses on cost behavior.
Contribution margin divided by sales.
Premises:
Sales less cost of goods sold.
A specific number of units sold that produces total income equal to zero.
Sales less variable production costs.
A costing method that includes all manufacturing costs.
Costs that are expensed in the period they are incurred.
Sales less variable expenses.
A costing method that includes only variable manufacturing costs.
Direct labor, direct materials, and manufacturing overhead.
An income statement format that focuses on cost behavior.
Contribution margin divided by sales.
Responses:
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