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Question 1 Your answer is correct
Question 1
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Your answer is correct. |
Which of the following is not a fixed cost?
Question 2
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Your answer is correct. |
Cost behavior analysis applies to
Question 3
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Your answer is correct. |
If the activity level increases 10%, total variable costs will
Question 4
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Your answer is correct. |
A company sells a product which has a unit sales price of $5, unit variable cost of $4 and total fixed costs of $340000. The number of units the company must sell to break even is
Question 5
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Your answer is correct. |
A company has a unit contribution margin of $190 and a contribution margin ratio of 40%. What is the unit selling price?
Question 6
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Your answer is correct. |
The margin of safety ratio
Question 7
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Your answer is correct. |
For Marigold Corp., sales is $2000000, fixed expenses are $900000, and the contribution margin ratio is 36%. What is required sales in dollars to earn a target net income of $500000?
Question 8
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Your answer is correct. |
In a CVP income statement, a selling expense is generally
Question 9
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Your answer is correct. |
In 2019, Crane Company sold 4400 units at $600 each. Variable expenses were $420 per unit, and fixed expenses were $315000. The same selling price, variable expenses, and fixed expenses are expected for 2020. What is Crane’s break-even point in sales dollars for 2020?
Question 10
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Your answer is correct. |
A shift from high-margin sales to low-margin sales
Expert Solution
Question 1
Which of the following is not a fixed cost?
| Lease charge |
| Property taxes |
| Depreciation |
|
Direct materials |
Question 2
Cost behavior analysis applies to
| retailers. |
| all entities. |
| manufacturers. |
| wholesalers. |
Question 3
If the activity level increases 10%, total variable costs will
| increase 10%. |
| remain the same. |
| increase by more than 10%. |
| decrease by less than 10%. |
Question 4
Total fixed costs / (unit sales price – unit variable cost) = Break-even in units
Question 5
Unit Contribution Margin / Contribution Ratio = Unit Selling price
Question 6
The margin of safety ratio
| indicates what percent decline in sales could be sustained before the company would operate at a loss. |
| is used to determine the break-even point. |
| is computed as actual sales divided by break-even sales. |
| measures the ratio of fixed costs to variable costs. |
Question 7
((Fixed expenses + Target net income) / Contribution margin = Required sales in dollars)
Question 8
In a CVP income statement, a selling expense is generally
| neither a variable cost nor a fixed cost. |
| completely a variable cost. |
| partly a variable cost and partly a fixed cost. |
| completely a fixed cost. |
Question 9
(Fixed expenses / ((Selling price – Variable expense per unit) / Selling price) = Break-even point in sales dollars)
Question 10
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Your answer is correct. |
A shift from high-margin sales to low-margin sales
| may decrease net income, even though there is an increase in total units sold. |
| will always increase net income. |
| will always increase units sold. |
| will always decrease net income. |
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