Question 75 In using the total cost concept of applying the cost-plus approach to product pricing, what is included in the cost amount to which the markup is added? A total selling and administrative expenses plus desired profit B.total fixed manufacturing costs, total fixed selling and administrative expenses, and desired profit C total costs of manufacturing a product plus selling and administrative expenses and desired profit D. total variable manufacturing costs, total variable selling and administrative expenses, and desired profit Question 76 is the excess of sales over variable costs. e A. Fixed cost B. Contribution margin C. Operating income D. Incremental cost I nhallenge un to 4 questions for Question 80 Which of the following is TRUE regarding fixed and variable costs? O A. both costs are constant when considered on a per-unit basis OB. both costs are constant when considered on a total basis O C. fixed costs are fixed in total, and variable costs are fixed per unit O D. variable costs are fixed in total, and fixed costs vary in total Question 85 The statement of shareholders' equity is prepared O A. before the preparation of the income statement O B. after the preparation of the statement of cash flows C. before the preparation of the balance sheet D. after the audit of the financial statements Question 92 The investment turnover is calculated as the ratio of sales to O A. operating income O B. invested assets C. marketable investments D. profit margin