Part A: Multiple Choice Questions 1208 1551208 (Choose the Best Answer from the Following. Circle the letter corresponds to the correct answer. Points 5X1= 5) 1. What is the first step in marking up a $95 item by 73%? a) Multiply 73% by $95 b) Add $95 and 73% c) Subtract 73% from $95 d) Divide $95 by 73% 2. Fixed Costs= $4,000; VC per sale = $ 1.50; Selling Price = $ 4.00; Calculate the Break Even Point in Units! a) 1600 Units b) 2000 Units c) 160 Units d) 200 Units 3. Buddy uses the high-low method of estimating costs. Bud had total costs of $50,000 at its lowest level of activity, when 5,000 units were sold. When, at their highest level of activity, sales equaled 12,000 units, total costs were $78,000. Bud would estimate variable cost per unit as a) $10.00 b) $6.50 c) $4.00 d) $7.53 4. Break-even is nor affected with changes in a) Sales Price per Unit b) Variable cost per unit c) Total fixed cost d) Number of units sold 5. A mixed cost a) is fixed over a wider range of activity than a variable cost. b) is a