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In Income Statements Prepared Under Absorption Costing and Variable Costing \quad

Question 31

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In income statements prepared under absorption costing and variable costing, where would you find the terms contribution margin and gross profit? \quad \quad \quad \quad  Contribution margin  Gross profit \begin{array}{llcc} \underline{ \text { Contribution margin } }&\quad\quad\quad\quad\quad \underline{ \text { Gross profit } }\\\end{array}
a) in absorption-costing income statement  in variable-costing income statement\begin{array}{llcc} \text {in absorption-costing income statement } & \text { in variable-costing income statement} \\\end{array}
b)  in absorption-costing income statement  in both income statements\begin{array}{llcc} \text { in absorption-costing income statement } & \text { in both income statements} \\\end{array}
c)  in variable-costing income statement  in absorption-costing income statement \begin{array}{llcc} \text { in variable-costing income statement } & \text { in absorption-costing income statement } \\\end{array}
d)  in both income statements  In variable-costing income statement\begin{array}{llcc} \text { in both income statements } & \quad\quad\quad\quad\quad\text { In variable-costing income statement} \\\end{array}


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