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1. At its $34 selling price, Pacific Company has sales of $17,000, variable manufacturing costs of $6,000, fixed manufacturing costs of $1,000, variable selling and administrative costs of $2,000 and fixed selling and administrative costs of $1,000. What is the company's contribution margin per unit?

2.Mendicino Company currently produces and sells 47,000 units of product at a selling price of $13. The product has variable costs of $7 per unit and fixed costs of $57,000. The company currently earns a total contribution margin of:

3. During its first year of operations, Beta Company paid $31,750 for direct materials and $18,500 in wages for production workers. Lease payments and utilities on the production facilities amounted to $7,500. General, selling, and administrative expenses were $8,500. The company produced 5,500 units and sold 4,500 units for $15.50 a unit. The average cost to produce one unit is which of the following amounts?

4. The magnitude of operating leverage for Forbes Corporation is 3.5 when sales are $270,000 and net income is $31,000. If sales increase by 5%, what is net income expected to be?

5.The total variable cost increases in direct proportion to volume. T OR F

6. The following income statement is provided for Ramirez Company in 2012:

Sales revenue (2,700 units $20.20 per unit)	$54,540
Cost of goods sold (variable; 2,700 units $8.20 per unit)	(22,140)
Cost of goods sold (fixed)	(4,200)
Gross margin	28,200
Administrative salaries	(6,200)
Depreciation	(4,200)
Supplies (2,700 units $2.20 per unit)	(5,940)
Net income	$11,860

What amount was the company's contribution margin?

7.Zero, Inc. produces a product that has a variable cost of $7.00 per unit. The company's fixed costs are $42,000. The product sells for $12.00 a unit and the company desires to earn a $21,000 profit. What is the volume of sales in units required to achieve the target profit? (Do not round intermediate calculations.)

8. A product has a contribution margin of $8 per unit and a selling price of $30 per unit. Fixed costs are $23,000. Assuming new technology increases the unit contribution margin by 70 percent but increases total fixed costs by $19,160, what is the new breakeven point in units?

9.

The following information relates to Mystic Manufacturing's 2013 accounting period:

Raw materials used	$17,200
Direct labor wages	33,200
Sales salaries and commissions	25,200
Depreciation on production equipment	3,020
Rent on manufacturing facilities	4,020
Administrative supplies and utilities	5,200
Sales revenue	107,000
Units produced	4,200
Units of sold	4,200

Based on this information, what is the company's net income for 2013?

10. Yankee Tours provide seven-day guided tours along the New England coast. The company pays its guides a total of $220,000 per year. The average cost of supplies, lodging and food per customer is $550. The company expects a total of 1,000 customers during the period January - June, and a total of 3,000 customers from July through December. Yankee wants to earn $250 income per customer. For promotional reasons the company desires to charge the same price throughout the year. Based on this information, what is the correct price per customer? (round to nearest dollar)

11. Kratzen Company sells a product at $80 per unit that has unit variable costs of $30. The company's break-even sales volume is $160,000. How much profit will the company make if it sells 3,000 units? 12.Mug Shots operates a chain of coffee shops. The company pays rent of $15,000 per year for each shop. Supplies (napkins, bags and condiments) are purchased as needed. The managers of each shop are paid a salary of $2,500 per month and all other employees are paid on an hourly basis. The cost of rent relative to the number of customers in a particular shop and relative to the number of customers in the entire chain of shops is which kind of cost, respectively?

13.

A review of the accounting records of Spiller Manufacturing indicated that the company incurred the following payroll costs during the month of September.

1.	Salary of the company president$31,000.
2.	Salary of the vice president of manufacturing$16,800.
3.	Salary of the chief financial officer$18,300.
4.	Salary of the vice president of marketing$15,200.
5.	Salaries of middle managers (department heads, production supervisors) in manufacturing plant$206,000.
6.	Wages of production workers$931,000.
7.	Salaries of administrative secretaries$104,000.
8.	Salaries of engineers and other personnel responsible for maintaining production equipment$183,000.
9.	Commissions paid to sales staff$248,000.

Required:

a.

What amount of payroll cost would be classified as selling, general, and administrative expense?

b.

Assuming that Spiller made 3,600 units of product and sold 2,880 of them during the month of September, determine the amount of payroll cost that would be included in cost of goods sold

14. Royce Company manufactures chocolate bars. The following were among Royce's 2013 manufacturing costs:

Wages
Machine operators	$370,000
Selling and administrative personnel	$82,000

Materials used
Lubricant for oiling machinery	$32,000
Cocoa, sugar and other raw materials	$320,000
Packaging materials	$260,000

Royce's 2013 direct labor costs amounted to:

15

Wu Company incurred $124,000 of fixed cost and $140,000 of variable cost when 3,500 units of product were made and sold.

If the company's volume doubles, the total cost per unit will:

16. Production in 2012 for California Manufacturing, a producer of high security bank vaults, was at its highest point in the month of June when 50 units were produced at a total cost of $580,000. The lowest point in production was in January when only 25 units were produced at a cost of $350,000. The company is preparing a budget for 2012 and needs to project expected fixed cost for the budget year. Using the high/low method, the projected amount of fixed cost per month is

17. The following income statements are provided for Li Company's last two years of operation:

	2011	2012
Number of units produced and sold	3,800	3,000
Sales revenue	55,860	44,100
Cost of goods sold	(27,000)	(23,000)
Gross margin	$28,860	$21,100
General, selling and administrative expenses	(8,520)	(7,400)
Net income	$20,340	$13,700

Assuming that cost behavior did not change over the two year period, what is the amount of the company's variable cost of goods sold per unit?

18. Barnam Company currently produces and sells 29,000 units of a product that has a contribution margin of $5 per unit. The company sells the product for a sales price of $26 per unit. Fixed costs are $27,500. The company has recently invested in new technology and expects the variable cost per unit to fall to $16 per unit. The investment is expected to increase fixed costs by $14,500. After the new investment is made, how many units must be sold to break-even? (Do not round intermediate calculations.)

19.

Based on the following operating data, the operating leverage is (round your answer to 2 decimal places):

Sales	$ 1,250,000
Variable costs	350,000
Contribution margin	900,000
Fixed costs	152,000
Income from operations	$ 748,000

19. Burke Company has a break-even of $800,000 in total sales. Assuming the company sells its product for $40 per unit, what is its margin of safety in units if sales total $1,000,000?

20. Cooper Company sells a product at $50 per unit that has unit variable costs of $20. The company's break-even sales volume is $150,000. How much profit will the company make if it sells 4,000 units?

21. Newman Company currently produces and sells 6,000 units of a product that has a contribution margin of $8 per unit. The company sells the product for a sales price of $24 per unit. Fixed costs are $39,000. The company is considering investing in new technology that would decrease the variable cost per unit to $13 per unit and double total fixed costs. The company expects the new technology to increase production and sales to 12,000 units of product. What sales price would have to be charged to earn a $90,000 target profit assuming the investment in technology is made?