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The term gross margin for a manufacturing company refers to the excess of sales over which of the following? Variable costs, excluding variable selling and
The term "gross margin" for a manufacturing company refers to the excess of sales over which of the following? | |
Variable costs, excluding variable selling and administrative expenses. | |
Cost of goods sold, including fixed manufacturing overhead. | |
Cost of goods sold, excluding fixed manufacturing overhead. | |
All variable costs, including variable selling and administrative expenses. |
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