Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 11

For the following questions, circle the best response. Answers are at the end of this chapter.

Contribution margin can be expressed as

a. sales minus variable expenses.

b. sales minus cost of goods sold.

c. sales minus fixed expenses.

d. the level of sales required to cover variable expenses.

e. the level of sales required to cover fixed and variable expenses.