Enter the letter : Matching Terms and Definitions (10 point iches each of the fa

Question

Enter the letter : Matching Terms and Definitions (10 point iches each of the fallowing definitions in the space provided A. Gross margin B. Product costs E. Break- even point C. Period costs D. Contribution margin 1. Di rect labor, direct materials, and manufacturing 2. Sales less variable expenses 3. Costs that are expensed in the period they are incurred. 4. Sales less cost of goods sold. 5. A sales level at which the company neither eams an income notr sales level Terms E. Contribution margin ratio A. Contribution margin B. Gross margin C. Absorption costing D. Variable costing Definitions: 6. Contribution margin divided by sales. 7. Sales less cost of goods sold 8. A costing method that includes only variable manufacturing costs. 9. A costing method that includes all manufacturing costs. 10. Sales less variable expenses.

Explanation / Answer

Prob 4) part I B. Product costs 1. Direct labor, direct materials and manufacturing overhead D. Contribution margin 2. Sales less Variable expenses C. Period costs 3. Costs that are expensed in the period they are incurred A. Gross margin 4. Sales less COGS E. Break even point 5. A sales level at which the company neither earns an income nor incurs a loss. part II E. contribution margin ratio 6. Contribution margin divided by sales B.Gross margin 7.Sales less COGS D. Variable costing 8. A costing method that includes only variable manufacturing costs C.Absorption costing 9. A costing method that includes al manufacturing costs A. contribution margin 10. Sales less variable expences

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