Question

A variable costing income statement ______. Multiple select question. calculates contribution margin, while the absorption costing income statement calculates gross margin is constructed exactly like an absorption costing income statement focuses on fixed and variable expenses, while an absorption costing income statement focuses on period and product costs does not include fixed manufacturing overhead, which is included on an absorption costing income statement

Answer 1

Answer:

calculates contribution margin while the absorption costing income statement calculates gross margin

focuses on fixed and variable expenses, while an absorption costing income statement focuses on period and product costs

Explanation:

variable costing income statement can be regarded as statement whereby all variable expenses are been removed from revenue so that separately-stated contribution margin can be gotten. And all fixed expenses are also removed so that net profit/ loss for that particular period can be known. While absorption costing income statement utilize absorption costing in creating

income statement.