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Author Question: The formula for a contribution format income statement is (Read 75 times)

ahunt13

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on: Feb 5, 2023

Question 1

A contribution margin format income statement
◦ is acceptable for GAAP reporting.
◦ is based on cost function rather than on cost behavior.
◦ allows managers to assess the impact of sales volume on operating income.
◦ classifies costs as committed or discretionary.

Question 2

The formula for a contribution format income statement is
◦ Sales revenue - Variable costs = Contribution margin - Fixed costs = Operating income.
◦ Sales revenue - Discretionary costs = Gross profit - Committed costs = Operating income.
◦ Sales revenue - Step costs = Contribution margin - Fixed costs = Operating income.
◦ Sales revenue - Cost of goods sold - Discretionary costs = Operating income.
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by ahunt13 on Feb 5, 2023

hillard sane

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Reply #1 on: Feb 5, 2023
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ahunt13

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Reply 2 on: Feb 5, 2023
Wow, this really help

FergA

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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