Match Each of the Following Terms (A)through (J)with the Appropriate

question 175

Essay

Match each of the following terms (a)through (j)with the appropriate definitions 1 through 10.
(a) Absorption costing
(b) Variable costing
(c) Contribution margin
(d) Contribution format
(e) Manufacturing margin
(f) Contribution margin ratio
(g) Break-even point
(h) Product costs
(i) Period costs
(j) Gross margin
_____ (1) Sales less cost of goods sold.
_____ (2) A specific number of units sold that produces total income equal to zero.
_____ (3) Sales less variable production costs.
_____ (4) A costing method that includes all manufacturing costs.
_____ (5) Costs that are expensed in the period they are incurred.
_____ (6) Sales less variable expenses.
_____ (7) A costing method that includes only variable manufacturing costs.
_____ (8) Direct labor,direct materials,and manufacturing overhead.
_____ (9) An income statement format that focuses on cost behavior.
_____(10)Contribution margin divided by sales.

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Definitions:

Slave Trade

The buying, transporting, and selling of human beings as slaves, specifically the transatlantic slave trade which forcibly brought Africans to the Americas from the 16th to the 19th centuries.

West Indies

A region in the Caribbean Sea consisting of numerous islands that were crucial during the colonial period for their agricultural production, especially sugar.

Indentured Servants

Individuals who agreed to work for a certain period in exchange for transportation to the New World, living expenses, and sometimes land at the end of their service, a common practice in the American colonies.

Pennsylvania Colony

The Pennsylvania Colony was one of the original thirteen colonies in North America, founded in 1681 by William Penn as a haven for persecuted Quakers and others seeking religious freedom.