For each item below,identify whether the item applies to an absorption costing or variable costing income statement by marking an "X" in the appropriate column.
$$\begin{array} { | l | l | l | }
\hline & \text { Absorption } & \text { Variable } \
\hline \text { Gross profit } & & \
\hline \text { Expenses separated by variable and fixed } & & \
\hline \text { Expenses separated by product and period } & & \
\hline \text { Contribution margin } & & \
\hline \text { All fixed costs expensed in period incurred } & & \
\hline
\end{array}$$

Question

For each item below,identify whether the item applies to an absorption costing or variable costing income statement by marking an "X" in the appropriate column.
 $$\begin{array} { | l | l | l | } 
\hline & \text { Absorption } & \text { Variable } \
\hline \text { Gross profit } & & \
\hline \text { Expenses separated by variable and fixed } & & \
\hline \text { Expenses separated by product and period } & & \
\hline \text { Contribution margin } & & \
\hline \text { All fixed costs expensed in period incurred } & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of For each item below,identify whether the item applies to an absorption costing or variable costing income statement by marking an "X" in the appropriate column.
 $$\begin{array} { | l | l | l | } 
\hline & \text { Absorption } & \text { Variable } \
\hline \text { Gross profit } & & \
\hline \text { Expenses separated by variable and fixed } & & \
\hline \text { Expenses separated by product and period } & & \
\hline \text { Contribution margin } & & \
\hline \text { All fixed costs expensed in period incurred } & & \
\hline
\end{array}$$

For Each Item Below,identify Whether the Item Applies to an Absorption