$(33.)$ Which item is absent in a merchanting company?

A$.$ Work$-$in$-$process inventory

B$.$ Administrative expense

C$.$ Gross profit

D$.$ Cost of goods sold

$(34.)$ Which label is given to materials that are minor in amount and difficult to trace to a specific product in manufacturing business?

A$.$ Direct materials

B$.$ Administrative materials

C$.$ Indirect materials

D$.$ Work$-$in$-$process materials

$(35.)$ What are the three different types of manufacturing costs?

A$.$ Budget, actual, and forecasted

B$.$ Materials, labor, and overhead

C$.$ Product, period, and variable

D$.$ Selling, general, and administrative

$(36.)$ What cost category is also known as avoidable costs, incremental costs, and relevant costs?

A$.$ Sunk costs

B$.$ Period costs

C$.$ Fixed costs

D$.$ Differential costs

$(37.)$ A company reports these data:

Price per unit $=$ $$10$

Variable cost per unit $=$ $$7$

Fixed cost $=$ $$1,500$

Number of units sold $=900$ units

Given these data, what is the contribution margin ratio?

A$.70\%$

B$.30\%$

C$.40\%$

D$.50\%$

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