34-37

33. ABCC ABC Costing is the best method to allocate Direct Materials. A) True B) False For questions 34-4 ons 34-43 match the letter next to the term to the numbered definition. A. Period costs B. Absorption costing C. Breakeven point D. Contribution margin format E. Product costs A. Contribution margin ratio B. Contribution margin C. Gross margin D. Variable costing E. Manufacturing margin 34. A costing method tha costing method that includes all manufacturing costs and is required by GAAP. 35. Costs which are expensed in the period they are incurred 36. Sales less all variable expenses 37. A costing method that includes only variable costs 38. Direct labor, direct materials and all factory overhead costs 39. An income statement format which focuses on cost behavior. 40. Contribution margin divided by sales 41. Sales less cost of goods sold