34. By choosing to go into business for himself, Jim Lazar foregoes the possibility of getting a highly paid job with a large company. Based on his decision, what type of cost is t highly paid job? what type of cost is the a. Sunk cost b. Out-of-pocket cost c. Opportunity cost d. Joint cost 35. Costs that have not yet been incurred and that may v ary among different courses of action are called: a. Opportunity costs b. Out-of-pocket costs c. Joint costs d. Sunk costs called: 36. Traceable fixed costs that the manager of a department cannot change are a. Controllable b. Committed c. Conditional d. Common 37. Which of the following is an example of a controllable fixed cost? a. Depreciation b. Property taxes c. Advertising d. Income taxes QUESTIONS 38-40 ARE BASED ON THE FOLLOWING INFORMATION Chic Jewelers views each branch location as an investment center. The local branch reported the following results for the current year: Sales Variable Costs Traceable Fixed Costs Common Fixed Costs $5,500,000 S3,254,000 $320,000 $2,400,000 38. What is the local branch's contribution margin? a. $5,500,000 b. $2,400,000 c. $2,246,000 d. $3,254,000