24 ABC Company is planning to sell 100,000 widgets for $10.00 per widget. Contribution margin ratio is 25%. If ABC Company will break even at this level of sales, what is the fixed costs? A. $250,000 B. $1,000,000 C. $100,000 D. $200,000 QUESTION 25 Conversion costs are A. direct labor costs plus overhead cost B. direct material cost plus overhead cost C. direct labor costs and indirect labor costs D. fixed plus variable overhead costs QUESTION 26 The master budget contains all of the following except A. sales budget B. direct labor budget C. cash budget OD. a balanced score card QUESTION 27 ABC Company sells 100,000 ties for $12 per unit. Net income is $200,000. Fixed costs are $300,000. What should be reported as variable expenses in the CVP income statement? A. $500,000 B. $600,000 c. $800,000 D. $700,000