howed ome 16) lo) A company's tlexible budget for 10,000 units of production reflects sales of $200.000: variable costs of $40,000: and tixed costs of $75,000. Calculate the expected level of operating income if the company produces and sells 13,000 units A) S133,000. B) $50.500. C)S110500. Di $100,000. E) $85.000. 17) The calculation of the payback period for an investment when net cash flow is even 17) (equal) is A) Total net cash flow/Annual net cash flow B) Annual net cash flow/Cost of investment C) Total net cash tlow Cost of investment Di Cost of investment/Annual net cash flow E) Cost of investment/Total net cash tlow S) Capital budgeting decisions usually involve analysis of 18) A) Cash outflows only B) Operating revenues C) Long-term investments only D) Investments with certain outcomes only E) Short-term investments only 19) The net cash flow of a particular investment project 19) A) Does not take income taxes into consideration. B) Is equal to operating income each period. C) Does not include depreciation. D) Equals the total of the inflows of the project. E) Equals the total of the outflows of the project. 20) The rate that yields a net present value of zero for an investment is the: 20) A) Payback rate of return. B) Net present value rate of return C) Accounting rate of return. D) Zero rate of return. E) Internal rate of return