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A traditional income statement focuses on distinguishing product costs and period costs, while a contribution margin format income statement focuses on distinguishing variable cost and fixed costs. O False True Question 7 ost of goods sold for a manufacturer usually includes both variable and fixed costs. True False

A traditional income statement focuses on distinguishing product costs and period costs, while a contribution margin format income statement focuses on distinguishing variable cost and fixed costs. O False True Question 7 ost of goods sold for a manufacturer usually includes both variable and fixed costs. True False

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter8: Tactical Decision-making And Relevant Analysis
Section: Chapter Questions
Problem 14MCQ
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please answer both explain  both why is true or false 

 

A traditional income statement focuses on distinguishing product costs and period costs, while a contribution margin format income statement focuses on distinguishing variable costs and fixed costs. O True False Question 7 Cost of goods sold for a manufacturer usually includes both variable and fixed costs. O True O False
Transcribed Image Text:A traditional income statement focuses on distinguishing product costs and period costs, while a contribution margin format income statement focuses on distinguishing variable costs and fixed costs. O True False Question 7 Cost of goods sold for a manufacturer usually includes both variable and fixed costs. O True O False
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