1 . All of the following costs are included in inventory under absorption costing except:

Select one:

A. Variable selling expenses

B. Direct labor

C. Fixed manufacturing expenses

D. Direct materials

2. The contribution margin is

Select one:

A. total sales minus total cost of goods sold.

B. the difference between total revenue and total variable cost.

C. the difference between sales price and total variable cost.

D. the difference between total sales and total cost of goods sold.