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13 September, 09:41

The major categories or captions that would appear on an income statement prepared in the variable costing format are as follows: Contribution margin Fixed costs Manufacturing margin Operating income Sales Variable cost of goods sold Variable selling and administrative expenses a. Arrange these captions in the proper order in accordance with the variable costing concept. b. Which of the captions represents: 1. The difference between sales and the total of all the variable costs and expenses. 2. The remaining amount of revenue available for fixed manufacturing costs, fixed expenses, and net income

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  1. 13 September, 11:45
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    Income Statement

    Variable Costing

    Sales

    Variable cost of goods sold

    Manufacturing margin

    Variable selling and administrative expenses

    Contribution margin

    Fixed costs

    Net income

    b. 1. Manufacturing margin=Sales less Variable cost of goods sold

    The difference between sales and the total of all the variable costs and expenses is called Contribution Margin.

    The remaining amount of revenue available for fixed manufacturing costs, fixed expenses, is called net income.
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