Matching Questions 117. Match each of the following terms (a) through (j) with the appropriate definitions 1 through 10.(a) Absorption costing(b) Variable costing(c) Contribution margin(d)...

Matching Questions

117. Match each of the following terms (a) through (j) with the appropriate definitions 1 through 10.
(a) Absorption costing
(b) Variable costing
(c) Contribution margin
(d) Contribution format
(e) Manufacturing margin
(f) Contribution margin ratio
(g) Break-even point
(h) Product costs
(i) Period costs
(j) Gross margin
_____ (1) Sales less cost of goods sold.
_____ (2) A specific number of units sold that produces total income equal to zero.
_____ (3) Sales less variable production costs.
_____ (4) A costing method that includes all manufacturing costs.
_____ (5) Costs that are expensed in the period they are incurred.
_____ (6) Sales less variable expenses.
_____ (7) A costing method that includes only variable manufacturing costs.
_____ (8) Direct labor, direct materials, and manufacturing overhead.
_____ (9) An income statement format that focuses on cost behavior.
_____(10) Contribution margin divided by sales.