Question 1 Which of the following are action traits of expenses? O variable fixed O semi-variable O all of the above Question 2 Which of the following describes a variable expense? O The expense acts in a direct relationship with sales volume. If the quantity sold goes up by one unit, the expense also goes up by one unit of expe O O Sales volume and the expense have a linear relationship. All of the above Question 3 Which of the following is true of variable expenses? 0 If sales volume is zero, the expense is zero. O The percentage of the expense to volume remains constant. As volume increases, the expense increases. O All of the above DI Question 4 Which of the following is a variable expense? O Property tax O Wait staff payroll (servers payroll) O Manager's salary O Cost of food sold | Question 5 Which of the following is a fixed expense? O Rent O Interest @ Depreciation All of the above D Question 6 Which of the following describes a semi-variable expense? O Sales volume and the expense have a linear relationship. O The percentage of the expense to volume remains constant. O The expense has two components: fixed and variable O All of the above D Question 7 n/courses/62140/quizzes/61507/take Question7 Which of the following can be used to separate semi-variable costs into their fixed and variable components? O Breakeven points O High-low method O Regression Analysis b and c 1 p Question 8 DI Question 8 Which of the following describes breakeven point? O a profit of zero O a loss of zero O the level of sales at which there will be no profit or loss O a andIb Question 9 Which is the correct formula for computing contribution margin? O Sales minus Income Before Income Taxes O Sales minus Variable Costs . Sales minus Total Costs Sales minus Variable Costs minus Fixed Costs Question 10 If food menu prices are changed, which of the following also change(s)? O dollar cost of food sold O cost of sales O food cost percentage O a and c