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Assignment 5 ASSIGNMENT 5 QUESTIONS Enter answers on the Armond Dalton Resources website (www.armonddaltonresources.com). Q-5-1. 2019 except: All of the following statements are true about the designer jeans sold in The average cost per pair of jeans depends on the number of pairs of jeans sold. jeans sold. 2. The average selling price per pair of jeans is based on the number of pairs of 3. The approximate gross profit percentage for designer jeans assumes the absorption costing method is used. pair. 4. The contribution margin per pair of jeans was higher than the gross profit per 5 . managers. Contribution margin per pair of jeans provides useful information to production Q-5-2. How many units of child chairs does Gatsby desire to have on hand at the end of 2020? Q-5-3. If Gatsby has total fixed and variable production costs of $750,000 when producing 30,000 child chairs and the company's fixed costs traceable to that product line are $570,000, then what is the variable cost per unit at 150,000 units? Q-5-4. All of the following budgets that comprise a master budget follow the accrual basis accounting rather than the cash basis except: 1. Capital expenditures budget. 2. Sales budget. 3. Direct materials purchases budget. 4. Operating expenses budget. 5. Manufacturing overhead budget. Q-5-5. Gatsby's decision to purchase a specialized piece of equipment to manufacture the new product line of child chairs will be reflected in the: (Check all that apply.) Capital expenditures budget. Direct materials purchases budget. Cash budget. Manufacturing overhead budget