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The contribution margin ratio is computed as:

contribution margin divided by sales

Another name for variable costing is:

direct costing

What term is commonly used to describe the concept whereby the cost of manufactured products is composed of direct materials cost, direct labor cost, and variable factory overhead cost?

variable costing

In contribution margin analysis, the increase or decrease in unit sales price or unit cost on the number of units sold is referred to as the:

unit price or unit cost factor

The amount of income under absorption costing will be more than the amount of income under variable costing when units manufactured:

exceed units sold

In contribution margin analysis, the unit price or unit cost factor is computed as:

the difference between the actual unit price or unit cost and the planned unit price or cost, multiplied by the actual quantity sold

What term is commonly used to describe the concept whereby the cost of manufactured products is composed of direct materials cost, direct labor cost, and all factory overhead cost?

Absorption Costing

For a supervisor of a manufacturing department, which of the following costs are controllable?

direct materials

In the variable costing income statement, deduction of variable selling and administrative expenses from manufacturing margin yields:

contribution margin

The relative distribution of sales among various products sold is referred to as the:

sales mix

Costs that can be influenced by management at a specific level of management are called:

controllable costs

The systematic examination of the differences between planned and actual contribution margin is termed:

contribution margin analysis

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