If contribution margin equals fixed costs, the company has earned a profit.

True

False

In a traditional income statement, the cost of goods sold includes both fixed and variable manufacturing costs.

True

False

In a contribution margin format income statement, all fixed costs are subtracted from the contribution margin to obtain operating income.

True

False

Increasing the unit variable costs decreases the break-even point, assuming that the fixed expenses and the unit selling price remains unchanged.

True

False