Question 1
________ are subtracted from sales to calculate gross margin.
◦ Variable and fixed manufacturing costs
◦ Fixed administrative costs
◦ Variable administrative costs
◦ Fixed selling costs
Question 2
At the end of the accounting period, Armstrong Corporation reports operating income of $30,000. Which of the following statements is true, if Armstrong's inventory levels decrease during the accounting period?
◦ Variable costing will report less operating income than absorption costing.
◦ Absorption costing will report less operating income than variable costing.
◦ Variable costing and absorption costing will report the same operating income since the cost of goods sold is the same.
◦ Variable costing and absorption costing will report the same operating income since the total costs are the same.
Race-Ethnicity and Income Extremes
Embryonic Period
Embryonic Period
Embryonic Period
Embryonic Period - 8th week
Digital illustration of a fish that was believed to have become extinct during the Cretaceous Period