NEED HELP PLEASE. The questions have multiple choice answers that are provided.

1. A standard is a price, cost, or quantity that is expected under normal conditions.

True OR False

2. Managers can use CVP relationships to conduct sensitivity analysis.

True OR False

3. Crystal Inc. is a merchandiser of stone ornaments. The company sold 15,000 units in 2015. The company has provided the following information.

What is the operating income for 2015?

$304,000

$252,700

$183,700

$257,000

4. The favorable variances have credit balances. They are contra-expenses and therefore decrease the expense Cost of Goods Sold.

True OR False

5. A common size statement reports only percentages that appear in a:

A. vertical analysis report.

B. horizontal analysis report.

C. ratio analysis report.

D. financial statement.

Sales Revenue Purchases (excluding freight in) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory $557,000 300,000 69,000 15,000 45,000 55,700