True or False:

1. The break-even pint the level of sales at which revenue equal fixed costs 2. Gross profit margin the sales price minus the variable cost per unit. 3. The income statement can be expressed as: True False True False Sales - Variable Expenses-Fixed Expenses Net Income 4. The margin of safety is the difference between planned unit sales and break-eve 5. Only mangers of prfit-seeking organizations find the cost-volume-profit analysis True False sales. True False is useful. True False 6. At the break-even point, net income may be positive. 7. After a certain poin a unit sold does not generate margin income 8. The break-even poin is when enough units are sold that total contribution marg True False True False equals to variable cst True False Total contributi True False 9, n / total sales # 100%-variable cost percentage 10. Break-even volume in units fixed costs/unit contribution margin. 11. Break-even volume n dollars variable costs/contribution-margin ratio 2. The margin of safety shows how far sales can fall below the planned level of as True False True False before losses occu True False 13. Margin of safetyctual unit sales-planned unit sales. True False