The contribution marginal on a job is the?

Assessment: JAMB UTME - Principles of Accounts - 1998 Subject: Financial Accounting

Question 1 Report

The contribution marginal on a job is the?
Answer Details
The contribution margin on a job is the excess of sales revenue over variable costs. In other words, it is the amount of money available from a particular job or product to cover the fixed costs of the business and contribute to the profit. It is calculated by subtracting the variable costs associated with a product or job from the revenue generated by that product or job. The contribution margin is important because it helps businesses determine how much they need to sell in order to cover their fixed costs and make a profit. By understanding the contribution margin, businesses can make better decisions about pricing, production, and sales strategies.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning