Which of the Following Will Appear as a Line Item

question 120

Multiple Choice

Which of the following will appear as a line item in the income statement prepared under variable costing?

• A) Contribution Margin
• B) Total Cost of Goods Sold
• C) Work-in-Process Inventory
• D) Gross Profit

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Definitions:

Supply

The aggregate quantity of a product or service that can be bought at a specific price point within a particular market.

Demand

The quantity of a product or service that consumers are willing and able to purchase at a given price.

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Stocks

Shares representing ownership in a corporation, giving holders a claim on part of the company's assets and earnings.