Variable Costing Statement Flashcards
(3 cards)
1
Q
First on RHS:
A
Sales
2
Q
Less: Variable Expenses (7)
A
Beginning Inventory
Add: COGM
Goods Available for Sale
Ending Inventory
Variable cost of goods sold
Variable selling and admin exp
Contribution Margin
3
Q
Less: Fixed Expenses
A
Manufacturing Overhead
Selling and admin expenses
Net income
