The Listing or Report Generated from Sales Which Includes the Customer

question 31

Multiple Choice

The listing or report generated from sales which includes the customer name, date, sales, and GST amount, and whether the sale was for cash or accounts receivable, for all sales in a period is the:

• A) remittance advice.
• B) sales journal or listing.
• C) accounts receivable master file.
• D) monthly statement.

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Definitions:

Contribution Margin

The amount of revenue remaining after subtracting the variable costs of producing a product, serving as an indicator of the product's profitability.

Variable Cost

Costs that change directly in proportion to changes in the volume of production or sales, such as raw materials and direct labor.

Contribution Margin

The amount by which a product's sales price exceeds its variable costs, indicating how much contributes to covering fixed costs and generating profit.

Machine Hour

A measurement of production time, counting one hour of operation of a machine or a piece of equipment for manufacturing purposes.