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Which of the following statements is correct

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Reference no: EM13495401

The following data relate toABC Corporation for the year just ended:

Sales revenue: 750,000

Cost of goods sold:

Variable portion: 370,000

Fixed portion: 110,000

Variable selling and administrative: 50,000

Fixed selling and administrative: 75,000

Which of the following statements is correct?

A. ABC's variable-costing income statement would reveal a gross margin of $270,000

B. ABC's variable-costing income statement would reveal a contribution margin of $330,000

C. ABC's absorption-costing income statement would reveal a contribution margin of $330,000

D. ABC's absorption-costing income statement would reveal a gross margin of $330,000

E. ABC's absorption-costing income statement would reveal a gross margin of $145,000

 

Reference no: EM13495401

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