Examlex
Which of the following statements is true about India?
Contribution Margin
The difference between the sales revenue generated from a product or service and the variable costs associated with its production and sales.
Variable Costing
A costing method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold and excludes fixed manufacturing overhead.
Absorption Costing
A costing method that includes both variable and fixed manufacturing overhead costs in the cost of a product.
Net Income
The net income a business realizes once it has subtracted all outgoings and fiscal charges from its revenue.
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