Use the Following to Answer Questions

question 84

Multiple Choice

Use the following to answer questions:
Select from the following list of terms to match the item with the best answer.Some terms may be used more than once or not at all.
-I Love Lucy

• A)Domestic comedy
• B)DirecTV
• C)Above-the-line cost
• D)Catch-up service
• E)Evergreen

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Definitions:

Variable Cost

Costs that change in proportion to the level of goods or services that a business produces.

Variable Costing

A pricing approach that incorporates only variable production expenses—such as direct materials, direct labor, and variable manufacturing overhead—into the cost of products.

Absorption Costing

A costing method that assigns all manufacturing costs, both fixed and variable, to products.

Net Income

The total earnings of a company after subtracting all expenses from revenue.