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True False e-False 6 marks The Contribution style Income Statement has costs grouped by behaviour while the Absorption or Conventional format Income Statement has costs grouped by Function 0 11 Product costs under the CM format include direct material & direct labour but not fixed manufacturing OH 12 13 Cost of Inventory under the CM format would not include fixed mfg OH as it is expressed as a period cost 14 15 Contribution Margin is calculated by taking Sales minus Variable Expenses 16 17 Margin of Safety refers to that level of Sales required to Break Even 18 19 If the Sell Price is $5.00 and the variable costs are $3.50/unit the the CM must be $1.75 Sheet1 Sheet2 u 10096 B 9:01 PM 12/19/2021 CC Mostly doudy Am 40