The $$Cost Relationships$$ visualization shows revenues in green, variables cost in orange, and fixed cost represented by a blue line. How much were total revenues in the month of February?

multiple choice $1$

$$2,547,275$

$$1,276,640$

$$900,000$

$$2,203,815$

The $$Cost Relationships$$ visualization shows revenues in green, variables cost in orange, and fixed cost represented by a blue line. Based on the visualization, which of the following statements is false? $($Hint: You will need to select $$All$$ in the drop$-$down menu to show data for all months of the year to complete this question.$)$

multiple choice $2$

Fixed cost tends to fluctuate with changes in sales.

Variable cost tends to fluctuate with changes in sales.

Profits for the year were at their lowest in the month of March.

Fixed cost for each month totaled $$900,000.$

In which month did the company earn the least amount of revenue?

multiple choice $3$

January

March

July

September

The bar chart visualization compares the contribution format and traditional format income statements for the month of February. Recall that contribution format income statements classify cost as being either fixed or variable $($i$.$e$.$ based on the way they behave relative to sales$)$ while the traditional income statement classifies cost based on the type of cost incurred $($either product or selling, general, and administrative$).$ Based on your analysis, which of the following statements is true?

multiple choice $4$

Operating income will always be the same in both statements.

Revenue will always be different between the two statements.

Total cost will differ between the two income statements.

Variable cost is always equal to Cost of Goods Sold during the year.

The two pie charts show the proportion of each expense type for both the contribution format and traditional format. Pie charts can be especially useful in quickly determining how a company$$s cost is structured. Operating leverage is a metric often utilized to evaluate the cost structure of a company. Which of the following best describes the extent of operating leverage for this company?

multiple choice $5$

The company has a high degree of operating leverage due to variable costs accounting for a larger proportion of total cost.

The company has a low degree of operating leverage due to fixed costs accounting for a larger proportion of total cost.

The company has a high degree of operating leverage due to fixed costs accounting for a larger proportion of total cost.

The company has a low degree of operating leverage due to variable costs accounting for a larger proportion of total cost.