10. The breakeven point is the level of activity or volume at which

a. Total sales is equal to total variable cost

b. Total variable cost is equal to total contribution margin

c. Total sales is equal to total contribution margin

d. Total contribution margin is equal to fixed costs

e. None of the above

11. The contribution margin ratio is calculated as

a. (Contribution Margin) / (Sales)

b. (Total Sales - Total Variable Costs) / (Total Sales)

c. 1 (Variable Expense Ratio)

d. All of the above

e. None of the above

12. The contribution margin method can be expressed as

a. SP (X) = FC VC - BP

b. X = (FC + BP) / (SP VC)

c. BP = (AP) / 1 t)

d. SP VC = CM

e. None of the above