Contribution margin equals ________.

Select one:

a. revenues minus product costs

b. revenues minus fixed costs

c. revenues minus variable costs

d. revenues minus period costs

The equation which reflects a CVP income statement is

Select one:

a. Sales Variable costs Fixed costs = Net income

b. Sales = Cost of goods sold + Operating expenses + Net income.

c. Sales Variable costs + Fixed costs = Net income

d. Sales + Fixed costs = Variable costs + Net income