Knowledge Check 01 Which of the following is true of the contribution approach? It is mainly used for external reporting purposes. It separates costs into fixed and variable categories. OIt is not useful for merchandising companies It calculates gross margin by deducting cost of goods sold from sales Knowledge Check 02 Davidson Company has a product with a selling price per unit of $100, the unit variable cost is $60, and the total unit? monthly fixed costs are $30,000. If the company sells 1,000 units, how much is Davidson's contribution margin per $40,000 $10,000 $40