Question
These are questions that I have found that I'd like to practice on for an upcoming test. Please let me know the right answer and
These are questions that I have found that I'd like to practice on for an upcoming test. Please let me know the right answer and show the calculations for each. This way I can compare with my answer to see what I did right or wrong. Please keep it simple to understand as I do struggle with accounting. Thank you. There are 10 questions.
1) Sales revenue is $250,000, fixed costs are $150,000, profit is $50,000, and sales price per unit is $25.00. Variable cost per unit is
$5.00
$10.00
$20.00
None of the above
2) Fixed costs are $80,000, profit required is $20,000, and variable costs are 50%. Sales revenue will have to be:
$200,000
$150,000
$50,000
None of the above
3) Given the following information, find dollar sales to achieve the following profit:variable cost percentage, 30%; profit, $60,000; fixed costs, $150,000
$700,000
$200,000
$300,000
None of the above
4) Given the following information, find break-even point in dollar sales:fixed cost, $48,337.80; contribution margin %, 60 %
$80,563
$120,844
$45,000
None of the above
5) Given the following information, find dollar sales to achieve the following profit:fixed costs, $60,000; profit, $18,000; sales price per unit, $8.00; variable cost per unit, $5.00; variable cost %, 62.5%
$45,000
$26,000
$208,000
None of the above
6) Given the following information, find break-even point in dollar sales:variable cost, 45%; fixed costs, $24,750
$55,000
$24,750
$45,000
None of the above
7) Given the following information, find break-even point in number of customers.Sales price per unit, $17.22; fixed costs, $215,035.68; variable cost per unit, $6.98
$45,000
$63,000
$21,000
256,000
8) Fixed costs are $185,000, operating income required is $25,000, rent income is $35,000, and the contribution margin is 50%. Sales revenue will have to be (to nearest $1,000):
$211,000
$300,000
$350,000
None of the above
9) Given the following information, find break-even point in number of customers.Fixed costs, $113,231.64; contribution margin, $2.28
$50,000
$20,000
$49,663
None of the above
10) A college's food operation has an average meal price of $12.50. Variable costs are $2.50 per meal and fixed costs total $75,000. How many meals must be sold to provide an operating income of $25,000?
5,000
10,000
15,000
None of the above
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