Which of the following income statement formats is most commonly used with flexible budgeting? ...
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Accounting
Which of the following income statement formats is most commonly used with flexible budgeting?
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Sales Variable costs = Contribution margin; Contribution margin Fixed costs = Net income
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Sales Cost of goods sold = Gross margin; Gross margin Operating expenses = Net income
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Sales Manufacturing costs Selling and administrative costs = Net income
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None of these answers is correct.
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