In the following equations, based on the variable costing income statement, identify the items designated by X: a. Sales – X = Manufacturing Margin b. Manufacturing Margin – X = Contribution Margin c....

In the following equations, based on the variable costing income statement, identify the items designated by X:

a. Sales – X = Manufacturing Margin

b. Manufacturing Margin – X = Contribution Margin

c. Contribution Margin – X = Income from Operations