Examlex
In a multi-step income statement,which of the following items is excluded from the calculation of operating income?
Total Variable Cost
The total of all costs that vary with the level of output, including materials, labor, and other expenses that increase as production increases.
Total Cost
The sum of fixed cost and variable cost.
ATC
Average Total Cost, which is the total cost of production divided by the quantity of output produced, encompassing both fixed and variable costs.
Plant Size
The physical capacity or output potential of a manufacturing or production facility.
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