Homework Answers
| 1 | |||||||||
| Variable costs are fixed per unit and vary in total | |||||||||
| 2 | |||||||||
| Fixed costs will remain the same as production volume changes within the relevant range | |||||||||
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Name Principles of Managerial Accounting Quiz 5-Chapter 6 1) Variable cos ts are described by which...
1) How do variable costs per unit behave? A. They increase as production decreases. B. They...
1) How do variable costs per unit behave? A. They increase as production decreases. B. They remain the same throughout production levels within the relevant range. C. They decrease as production increases. D. They decrease as production decreases. 2) How do fixed costs per unit behave? A. They decrease as production decreases. B. They increase as production decreases. C. They remain the same throughout production levels within the relevant range. D. They increase as production increases.
When using a flexible budget, a decrease in activity within therelevant range:decreases variable costs...
When using a flexible budget, a decrease in activity within the relevant range:decreases variable costs per unit.decreases total costs.increases total fixed costs.increases variable cost per unit.
Which of the following statements regarding fixed costs is incorrect? Total fixed costs are constant within...
Which of the following statements regarding fixed costs is incorrect? Total fixed costs are constant within the relevant range. Fixed costs expressed on a per unit basis will decrease with increases in activity. Fixed costs expressed on a per unit basis will increase with decreases in activity. Expressing fixed costs on a per unit basis usually is the best approach for decision making.
unsure with these two. thank you! Contribution margin ratio is computed by O A. dividing sales...
unsure with these two. thank you!
Contribution margin ratio is computed by O A. dividing sales revenue by contribution margin. O B. dividing contribution margin by sales revenue. O c. dividing contribution margin by operating income. OD. dividing operating income by contribution margin. With respect to total fixed costs, which of the following statements is true? O A. They will remain the same as production levels change within the relevant range. OB. They will increase as production decreases within the...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $ 1.83 Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during the year $ 75,000 $ 80,000 500,000 150,000 Using variable costing, what is the operating income for last...
Which of the following costs is classified as a period cost under variable costing? O a....
Which of the following costs is classified as a period cost under variable costing? O a. Fixed manufacturing overhead O b. Variable manufacturing overhead O c. The cost of direct materials O d. The cost of direct labor Which of the following is true of a fixed cost? O a. Fixed costs in total vary in direct proportion to changes in output within the relevant range. O b. The per unit fixed cost increases with an increase in the level...
e-Quiz Saved Required information The following information applies to the questions displayed below) Martinez Company's relevant...
e-Quiz Saved Required information The following information applies to the questions displayed below) Martinez Company's relevant range of production ls 7.500 units to 12.500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed Sales Variable administrative expense Average Cost Per Unit $5.30 $2.80 $1.40 $4.00 $2.30 $2.20 $1.20 $0.45 rative expense ons ir 10.000 units are produced, what are the total...
Frisco Corporation is analyzing its fixed and variable costs within its current relevant range. As its...
Frisco Corporation is analyzing its fixed and variable costs within its current relevant range. As its cost driver activity changes within the relevant range, which of the following statements is/are correct? I. As the cost driver level increases, total fixed cost remains unchanged. II. As the cost driver level increases, unit fixed cost increases. III. As the cost driver level decreases, unit variable cost decreases. 1. I, II, and III are correct. 2. I and II only are correct. 3....
Managerial Accounting &nb
Managerial Accounting 24 Points (4 points each) 1. The following data is for two companies, LeBron and Luke: Le Bron Luke Selling price $50/unit $60/unit Variable manufacturing costs $15/unit $12/unit Variable selling and admin. costs $ 5/unit $ 8/unit Fixed manufacturing costs $100,000 $300,000 Fixed selling and admin. costs $ 30,000 $ 80,000 (a) Ignoring income taxes, how many units must LeBron sell to break-even? (b) Assuming a tax rate of 25%, do you think the breakeven...
Frisco Corporation is analyzing its fixed and variable costs within its current relevant range. As its...
Frisco Corporation is analyzing its fixed and variable costs within its current relevant range. As its cost driver activity changes within the relevant range, which of the following statements is/are correct? I. As the cost driver level increases, total fixed cost remains unchanged. II. As the cost driver level increases, unit fixed cost increases III. As the cost driver level decreases, unit variable cost decreases. 1. I only is correct. 2. I, II, and III are correct. 3. II and...
unsure with these two. thank you!
Contribution margin ratio is computed by O A. dividing sales revenue by contribution margin. O B. dividing contribution margin by sales revenue. O c. dividing contribution margin by operating income. OD. dividing operating income by contribution margin. With respect to total fixed costs, which of the following statements is true? O A. They will remain the same as production levels change within the relevant range. OB. They will increase as production decreases within the...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $ 1.83 Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during the year $ 75,000 $ 80,000 500,000 150,000 Using variable costing, what is the operating income for last...
Which of the following costs is classified as a period cost under variable costing? O a. Fixed manufacturing overhead O b. Variable manufacturing overhead O c. The cost of direct materials O d. The cost of direct labor Which of the following is true of a fixed cost? O a. Fixed costs in total vary in direct proportion to changes in output within the relevant range. O b. The per unit fixed cost increases with an increase in the level...
e-Quiz Saved Required information The following information applies to the questions displayed below) Martinez Company's relevant range of production ls 7.500 units to 12.500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed Sales Variable administrative expense Average Cost Per Unit $5.30 $2.80 $1.40 $4.00 $2.30 $2.20 $1.20 $0.45 rative expense ons ir 10.000 units are produced, what are the total...
Frisco Corporation is analyzing its fixed and variable costs within its current relevant range. As its cost driver activity changes within the relevant range, which of the following statements is/are correct? I. As the cost driver level increases, total fixed cost remains unchanged. II. As the cost driver level increases, unit fixed cost increases III. As the cost driver level decreases, unit variable cost decreases. 1. I only is correct. 2. I, II, and III are correct. 3. II and...
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