Quiz December 13, 2013April 16, 2015 Hannah Wilson Essay Papers Question 26 In applying the high-low method, which months are relevant? Month Miles Total Cost January 80,000 $ 96,000 February 50,000 80,000 March 70,000 94,000 April 90,000 130,000 A. January and February B. January and April C. February and April D. February and March 3.75 points Question 27 At the break-even point of 2,000 units, variable costs are $120,000, and fixed costs are $64,000. How much is the selling price per unit? A. $92 B. $32 C. $28 D. Not enough information 3.75 points Question 28 Sales are $500,00 0 and variable costs are $200,000. What is the contribution margin ratio? A. 50% B. 40% C. 60% D. Cannot be determined because amounts are not expressed per unit. 3.75 points To get more of this paper click here to make your order. Question 29 Winfred Company sells radios for $50 per unit. The fixed costs are $420,000 and the variable costs are 60% of the selling price. As a result of new automated equipment, it is anticipated that fixed costs will increase by $120,000 and variable costs will be 50% of the selling price. The new break-even point in units is: A. 26,000 B. 21,600 C. 17,333 D. 20,800 3.75 points Question 30 Newman Company sells MP3 players for $60 each. Variable costs are $40 per unit, and fixed costs total $90,000. How many MP3 players must Newman sell to earn net income of $210,000? A. 15,000. B. 3,750. C. 5,250. D. 4,500. 3.75 points Question 31 Blake Company is planning to sell 800,000 units for $1.50 per unit. The contribution margin ratio is 20%. If Blake will break even at this level of sales, what are the fixed costs? A. $240,000. B. $960,000. C. $560,000. D. $800,000. 3.75 points Question 32 ISSAC Company has a contribution margin per unit of $21 and a contribution margin ratio of 60%. How much is the selling price of each unit? A. $35.00 B. $52.50 C. $12.60 D. Cannot be determined without more information. 3.75 points Question 33 Fixed costs are $2,400,000 and the contribution margin per unit is $120. What is the break-even point? A. 2,000 units B. 20,000 units C. $2,000,000 D. $20,000,000 3.75 points Question 34 Price Company sells 100,000 units for $13 a unit. Fixed costs are $350,0 00 and net income is $250,000. What should be reported as variable expenses in the CVP income statement? A. $600,000. B. $1,050,000. C. $700,000. D. $950,000. 3.75 points To get more of this paper click here to make your order. Question 35 Chula Manufacturing Company developed the following data: Beginning work in process inventory $ 70,000 Direct materials used 470,000 Actual overhead 550,000 Overhead applied 530,000 Cost of goods manufactured 1,270,000 Ending work in process 50,000 How much are total manufacturing costs for the period? A. $1,290,000 B. $1,000,000 C. $1,250,000 D. $1,020,000 3.75 points Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) Related