Assume the following information for two products. Hawaii Fantasy and Hawaii Joy. Fixed expenses total $475, 800 per year. What is the breakeven point in units for each product? A) 18, 300 units of Hawaii Fantasy and 18, 300 units of Hawaii Joy B) 4, 575 units of Hawaii Fantasy and 18, 300 units of Hawaii Joy C) 18, 300 units of Hawaii Fantasy and 4, 575 units of Hawaii Joy D) none of the above According to the Statement of Ethical Professional Practice drafted by the IMA, the standard of integrity states that each member has a responsibility to. A) mitigate actual conflicts of interest B) disclose delays or deficiencies in information C) recognize and communicate professional limitations or other constraints that would preclude responsible judgment or successful performance of an activity D) communicate information fairly and objectively Strongsville Company wishes to earn after-tax net income of $18,000 and the contribution margin is $6,00 per unit. Strongsville's tax rate is 40%. The number of units that must be sold to earn the targeted net income is. A) 17,000 B) 14,000 C) 19,000 D) 21, 500 Managers apply two criteria to obtain accurate and useful cost functions. These criteria are. A) plausibility and reliability B) B) believability and plausibility C) reliability and validity D) plausibility and believability Which of the following items should be considered by managers when designing accounting systems? A) behavioral implications B) cost-benefit balances C) cost-benefit balances and behavioral implications D) none of the above One advantage of the management-by-exception approach is that it. A) frees managers from needless concern over operations that adhere to plans B) allows managers to ignore day-to-day operations C) allows managers to ignore problem situations D) allows managers to ignore aspects of the business outside their area of expertise When does a company earn the majority of revenue for a product that goes through the product life cycle? A) phase-out of product and introduction to market stages B) introduction to market and mature market stages C) mature market and phase-out of product stages D) product development and mature market stages