Describe a Pie Chart and a Doughnut Chart and Explain

question 179

Essay

Describe a pie chart and a doughnut chart and explain the difference between the two chart types.

---

Definitions:

Net Income

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

Variable Costing

A costing method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of a product.

Absorption Costing

A system for determining product costs that encompasses all manufacturing expenses, including direct materials, direct labor, and overheads, regardless of them being fixed or variable.

Ending Inventory

The value of goods available for sale at the end of an accounting period.