Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. The Blue Company is currently selling its single product for $15. Variable costs are estimated to remain at 70% of the current selling price

. The Blue Company is currently selling its single product for $15. Variable costs are estimated to remain at 70% of the current selling price and fixed costs are estimated to be $4,800 per month. If Blue increases its selling price by 10%, its variable cost ratio will (Points : 1)
2. Which field of accounting emphasizes relevancy over comparability? (Points : 1)
3. Which of the following best distinguishes an opportunity cost from an outlay cost? (Points : 1)
4. At a break-even point of 400 units, variable costs were $400 and fixed costs were $200. What will the 401st unit sold contribute to operating profits before income taxes? (Points : 1)
5. Given the following data:
Per Unit
Total
Sales
$15
$45,000
Less variable expenses
9
27,000
Contribution margin
6
18,000
Less fixed expenses
12,000
Net income
$ 6,000
If sales decrease by 500 units, by what % would fixed expenses have to be reduced by to maintain current net income? (Points : 1)
6. The Cost of Goods Manufactured Statement summarizes the periodic production operations for a company. On the face of that schedule are intermediate calculations supporting the cost of goods manufactured figure. The beginning Work-in-Process inventory plus the total of the manufacturing costs equals (Points : 1)
7. A company which manufactures custom-made machinery routinely incurs sizable telephone costs in the process of taking sales orders from customers. Which of the following is a proper classification of this cost? (Points : 1)
8. Which of the following would not cause the breakeven point to change? (Points : 1)
9. A manufacturing company incurs direct labor costs as it transforms direct material into marketable products. The cost of the direct labor will be treated as a period cost on the income statement when the resulting: (Points : 1)
10. Which of the following activities would not be considered a value-added activity? (Points : 1)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Military Finances Personal Money Management For Service Members Veterans And Their Families

Authors: Cheryl Lawhorne-Scott, Don Philpott

1st Edition

144222214X, 978-1442222144

More Books

Students also viewed these Finance questions

Question

What is meant by organisational theory ?

Answered: 1 week ago

Question

What is meant by decentralisation of authority ?

Answered: 1 week ago

Question

Briefly explain the qualities of an able supervisor

Answered: 1 week ago

Question

Define policy making?

Answered: 1 week ago

Question

Define co-ordination?

Answered: 1 week ago