ltiple Choice (circle the correct answer) (3 points each) Contribution margin is the amount remaining after: a. variable expenses have been deducted from sales revenue. b. fixed expenses have been deducted from sales revenue. c. fixed expenses have been deducted from variable expenses. d. cost of goods sold has been deducted from sales revenues. Managerial accounting: a. has its primary emphasis on the future. b. is required by regulatory bodies such as the SEC. c. focuses on the organization as a whole, rather than on the organization's segments d. Responses a, b, and c are all correct. Transportation costs incurred by a manufacturing company to ship its product to its customers would be classified as which of the following? a. Product cost b. Manufacturing overhead c. Period cost d. Administrative cost Variable cost: a. increases on a per unit basis as the number of units produced increases b. remains constant on a per unit basis as the number of units produced increases c. remains the same in total as production increases. d. decreases on a per unit basis as the number of units produced increases. An opportunity cost is: a. the difference in total costs which results from selecting one alternative instead of another b. the benefit forgone by selecting one alternative instead of another. c. a cost which may be saved by not adopting an alternative. d. a cost which may be shifted to the future with little or no effect on current operations