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How did functionalist theory in sociology support the status quo?
Contribution Format
An income statement format that separates fixed and variable costs, showing the contribution margin which covers fixed costs and profits.
Absorption Costing
A bookkeeping strategy that encompasses all production expenses, including direct materials, direct labor, and variable plus fixed overhead, into the pricing of a product.
Variable Costing
An accounting method that only includes variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs and treats fixed overhead expenses as period costs.
Variable Costing Income
An accounting method that considers only variable costs—costs that vary with production—when determining cost of goods sold and, ultimately, income.
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