A-LevelAccountingTraditional costing methods9706/12 · Oct/Nov 2023 · Q281 Mark

Which statements about marginal costing are correct? 1 Contribution is the difference between sales revenue and total production costs. 2 Costs are classified as variable costs or fixed costs only. 3 Variable costs include variable selling expenses.

A1, 2 and 3

B1 and 2 only

C1 and 3 only

D2 and 3 only

✓ Correct answer

D: 2 and 3 only

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Topic: Traditional costing methods, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2023 Paper 1 Variant 2, question 28.

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