Which of the Following Items Would Not Be Found on a Contribution

question 145

Multiple Choice

Which of the following items would not be found on a contribution format income statement?

• A) Fixed cost
• B) Variable cost
• C) Gross margin
• D) Net income

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Definitions:

Hourly Worker

An employee whose pay is based on the number of hours worked rather than receiving a fixed salary.

Shop Foreman

A supervisory role within a manufacturing or industrial site, overseeing the work of employees and ensuring the efficiency and quality of production.

Work-In-Process Inventory

Goods that are partially completed in the manufacturing process but not yet ready for sale.

Cost Of Goods Sold

In a perpetual inventory system, an account that records the cost of merchandise inventory used to make the sale. Also, it is the total cost of the goods which were sold to customers.