Managerial accounting

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Complete the following statements. 1. Prime cost is the sum of 2. Cost of goods sold is beginning finished goods inventory plus rt 11 r and ve minus ending finished goods inventory 3. Cost of direct materials purchased is cost of direct materials used beginning inventory ending inventory 4. The contribution income statement approach subtracts from _ to arrive at 5. decrease as volume increases. stay the same per unit of activity, whereas 6. is the excess of sales over cost of goods sold., whereas contribution margin is the excess of sales over 7. As compared to accounting, accounting draws heavily from other disciplines such as finance and quantitative analysis. 8. The higher the , the less volume required to break even. 111 Solve the following problems. Page 1 of 3