Examlex
Computers and communication systems use _____ to represent information between computers and network systems.
Total Variable Costs
The sum of all costs that vary directly with the level of production or sales volume, such as materials and labor costs.
Variable Costing Income Statement
An income statement format that only includes variable costs as cost of goods sold and uses contribution margin to analyze profitability.
Absorption Costing Format
An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.
Gross Margin
Gross margin is a company's net sales revenue minus its cost of goods sold, representing the efficiency of a company in managing its direct costs.
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