Question: TRUE OR FALSE: 1a. The higher the amount of variable costs for the same level of revenues, the higher the contribution margin ratio. 1b. Under

TRUE OR FALSE:

1a. The higher the amount of variable costs for the same level of revenues, the higher the contribution margin ratio.

1b. Under absorption costing, the more fixed manufacturing overhead in ending Finished Goods Inventory, the larger the Cost of Goods Sold.

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