With an Activity-based Costing (ABC) system, a company Select an answer: elects not to allocate overhead but instead expenses all overhead costs in the period they are incurred identifies business activities that create overhead costs and allocates overhead based on the level of those activities allocates overhead equally across product lines minimizes the number of activities that generate overhead How do you calculate contribution margin? Select an answer: Add variable costs and fixed costs together. Subtract variable costs from fixed costs. Subtract all variable costs from sales revenue. Subtract all fixed costs from sales revenue