At the Top of the System of Inequality in the Former

question 3

Multiple Choice

At the top of the system of inequality in the former Soviet Union were the

• A) intelligentsia, or educated professionals.
• B) industrial capitalists.
• C) hereditary nobility.
• D) apparatchiks, or high government officials.

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Definitions:

Contribution Margin

The difference between sales revenue and variable costs, used to cover fixed costs and generate profit.

Variable Costing

A costing method that only includes variable costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, while fixed costs are expensed in the period they are incurred.

Absorption Costing

An accounting method that includes both variable and fixed manufacturing overhead costs in the cost of a unit of product.

Manufacturing Overhead

All indirect costs related to manufacturing, excluding direct materials and direct labor, such as factory rent, utilities, and equipment depreciation.