Net income under variable costing is contribution margin less
a. cost of goods sold.
b. fixed manufacturing overhead and fixed selling and administrative expenses.
c. fixed manufacturing overhead and variable manufacturing overhead.
d. variable selling and administrative expenses and fixed selling and administrative expenses.
Answer: b. fixed manufacturing overhead and fixed selling and administrative expenses.
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Labor Recruiters, Inc, has been ordered to appear at a hearing be-fore an administrative law judge of the National Labor Relations Board. A significant difference between a trial and an administrative hearing is that
a. attorneys are not allowed to attend administrative hearings. b. clients are not allowed to communicate with their attorneys dur-ing adminis-trative hearings c. hearsay can be introduced as evidence in an administrative hearing. d. the burden of proof is on the charged party to prove innocence.