Which of the following would be reported on a variable costing income statement?

A) Gross margin
B) Cost of goods available for sale
C) Total cost of goods sold
D) Contribution margin
E) Work-in-process inventory

Income Statement

A financial statement that shows a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.

Contribution Margin

The difference between sales revenue and variable costs of a product or service, indicating how much contributes towards covering fixed costs and generating profit.

Gross Margin

A financial measurement that calculates the difference between a company’s total revenue and the cost of goods sold, expressed as a percentage of total revenue.