20.Bowan Company reported the following information for the current year: Sales (50,000 units) $1,000,000, direct materials and direct labor $500,000, other variable costs $50,000, and fixed costs $288,000. What is Bowan contribution margin ratio? Question 20 options: 32%. 45%. 68%. 55%.

22. How much sales are required to earn a target net income of $160,000 if total fixed costs are $300,000 and the contribution margin ratio is 40%? Question 22 options: $750,000 $1,150,000 $766,667 $500,000

23.The following monthly data are available for Hepburn, Inc. which produces only one product: Selling price per unit, $42; Unit variable expenses, $14; Total fixed expenses, $84,000; Actual sales for the month of June, 4,000 units. How much is the margin of safety for the company for June? Question 23 options: $1,000 $126,000 $42,000 $84,000

24.In evaluating the margin of safety, the Question 24 options: higher the margin of safety ratio, the greater the margin of safety. higher the margin of safety ratio, the lower the fixed costs. break-even point is not relevant.

25.higher the dollar amount, the lower the margin of safety. Contribution margin is Question 25 options: sales less fixed costs. available to cover fixed costs and contribute to income for the company. the amount of revenue remaining after deducting fixed costs. unit selling price less unit fixed costs.

26.Guid Company had actual sales of $900,000 when break-even sales were $600,000. What is the margin of safety ratio? Question 26 options: 66.67% 75% 50% 33.33%

27. In applying the high-low method, what is the fixed cost? Month Miles Total Cost January 80,000 $144,000 February 50,000 120,000 March 70,000 141,000 April 90,000 180,000 Question 27 options: $20,600 $44,000 $45,000 $70,000