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Cost and Management Accounting
Quick questions on Marginal costing explained: H2 Principles of Accounting
6short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the marginal costing approach?Show answer
Marginal costing distinguishes sharply between variable and fixed costs:
What is contribution?Show answer
Contribution is the engine of marginal costing:
What is the profit statement layout?Show answer
A marginal costing statement runs:
What is q1?Show answer
A product sells for \40\. Find the contribution per unit. [2 marks]
What is q2?Show answer
Total contribution is \240\,000\. Find the profit. [2 marks]
What is q3?Show answer
Explain why marginal costing values closing inventory at variable cost only. [3 marks]
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