Definition: Van Diemen's Land, the island south of mainland Australia, is now known as Tasmania. In the 1800s it was a penal colony to which the British government sent convicts. Some of the Irish rebels tried for their parts in the Young Ireland movement of the 1840s were sent to Van Diemen's Land.n the 1800s it was a penal colony to which the British government sent convicts. Some of the Irish rebels tried for their parts in the Young Ireland movement of the 1840s were sent to Van Diemen's Land.
What is contribution margin? In accounting contribution margin is defined as revenues minus variable expenses. In other words, the contribution margin reveals how much of a company's revenues will be contributing (after covering the variable expenses) to the company's fixed expenses and net income.
The first variable you need to find for the contribution margin equation is its unit revenue â in other words, the price it's sold for. The confusing term unit revenue is used in economics because the product's price is equal to the revenue generated by the sale of a single product (or one unit).ontribution margin is a concept often used in a branch of managerial accounting known as cost-volume-profit (CVP) analysis. A single product's contribution margin is given with the formula P-V, where P is the cost of the product and V is its variable cost.