The following information relates to the manufacturing operations of the JNR Printing Company for the year: 
The raw materials used in manufacturing during the year totaled $118,000.Raw materials purchased during the year amount to:
Definitions:
Variable Cost
Expenses that change in proportion to the activity of a business, such as raw materials and direct labor costs.
Contribution Margin
The remaining amount of revenue after variable costs have been subtracted, indicating how much revenue is contributing to fixed costs and profits.
Incremental Manufacturing Cost
The additional cost incurred to produce an extra unit of output, excluding fixed costs.
Contribution Format
A method of income statement preparation that separates fixed costs from variable costs.
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