Homework Answers
3. Contribution margin = (7000-5600)/7000 = 20%
Sales revenue = (1000+2500)/0.20 = $17500
Option A. is correct answer.
4. Cost of merchandise is variable cost.
Option c. is correct answer.
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QUESTION 3 Sales revenue is $7,000, total variable costs are 55.600, and total foxed costs are...
which of the following is most likely to be variable cost QUESTION 4 Which of the...
which of the following is most likely to be variable
cost
QUESTION 4 Which of the following is most likely to be a variable cost? O A. Rent for CEO's office OB. Depreciation on production equipment O C. Cost of merchandise O D. Factory supervisor's salary 2.5 p QUESTION 8 Gamma Company has a selling price of $3/unit, unit variable costs of $2/unit and total fixed costs of $1,000. Current sales revenue is $12,000. What is the margin of safety...
Question Completion Status: QUESTION 5 Beta Company provided the following information for June: Beginning inventory of...
Question Completion Status: QUESTION 5 Beta Company provided the following information for June: Beginning inventory of finished goods Beginning inventory of work-in-process Ending inventory of finished goods Direct labor used $5,000 $18,000 $ 3,000 $13,000 $10,000 4,000 $5,500 Raw materials used Manufacturing overhead Cost of goods manufactured (COGM) The company's cost of goods sold (COGS) for June is OA $3,500 B. $2,500 OC.$7,500 D. $42,000 QUESTION 6 Compute cost of ending inventory using the following data: $32,000 Cost of beginning...
Question 2: CVP relation version 2 Current sales revenue is $5,000, total variable costs are $1,000,...
Question 2: CVP relation version 2 Current sales revenue is $5,000, total variable costs are $1,000, and total fixed costs are $2,000 (no data on units). a) Compute the contribution margin ratio: CMR b) Write down the CVP relation (version 2): profit as a function of sales revenue. Profit = * Revenue - (e.g., if profit = 0.1*Revenue-500, enter 0.1 in the first box and 500 in the second box). c) Predict profit at sales revenue of $10,000: d) Your...
Question 2: CVP relation version 2 Current sales revenue is $5,000, total variable costs are $3,000,...
Question 2: CVP relation version 2 Current sales revenue is $5,000, total variable costs are $3,000, and total fixed costs are $5,000 (no data on units). a) Compute the contribution margin ratio: CMR= b) Write down the CVP relation (version 2): profit as a function of sales revenue. Profit = * Revenue - (e.g., if profit = 0.1*Revenue-500, enter 0.1 in the first box and 500 in the second box). c) Predict profit at sales revenue of $10,000: d) Your...
Question 1: CVP relation Sales volume in units 100 Revenue $8,000 Variable costs $7,000 Contribution margin...
Question 1: CVP relation Sales volume in units 100 Revenue $8,000 Variable costs $7,000 Contribution margin $1,000 Fixed costs $600 Profit $400 a) Compute the following items: price= unit VC= unit CM= b) Write down the CVP relation. Profit = * volume- (e.g., if Profit=4*volume-1000, enter 4 in the first box and 1000 in the second box). c) Predict profit at sales volume of 120 units: d) Your boss gave you a profit target of $700. How many units do...
QUESTION 24 MONTH January February March April UNITS SOLD TOTAL COSTS 980 $3,500 780 $4,000 1,080...
QUESTION 24 MONTH January February March April UNITS SOLD TOTAL COSTS 980 $3,500 780 $4,000 1,080 $5,500 1,280 $5,000 Estimate variable costs per unit using the information above. Estimate fixed costs using the information above. QUESTION 16 Estimate unit variable costs and fixed costs using the following information. Month Total Costs Sales Volume (units) March $180 April $190 May $260 June $280 O A. Unit VC = $6/FC = $84 OB. Unit VC = $8/FC = $52 C. Unit VC...
. At current sales revenue of $700, total variable costs are $560 and total fixed costs...
. At current sales revenue of $700, total variable costs are $560 and total fixed costs are $50. Your oss gave you a profit target of $150. How much do you need to sell in dollars to meet this target? A. not enough information need data on units B. $200 C. $250 D. $760 E. $1,000
Question 1: Special order Sales volume in units 90 Revenue $6,300 Variable costs $900 Contribution margin...
Question 1: Special order Sales volume in units 90 Revenue $6,300 Variable costs $900 Contribution margin $5,400 Fixed costs $1,600 Profit $18 Special order: A client wants to buy 10 units at a discounted price of $30 per unit. This is a one-time deal (l.e., a short-term decision). You have enough spare capacity to fulfill this special order without cutting back on your regular sales. a) Use the gross approach to decide whether you should take the special order: status...
9. Current sales revenue in dollars is $6,000. The price is $3 per unit, variable costs...
9. Current sales revenue in dollars is $6,000. The price is $3 per unit, variable costs are $i per unit, and total fixed costs are $1,000. Compute the margin of safety: A not enough information-need to know the breakeven point B. 8.33% C. 25% D. 75% E. 91.67%
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable...
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable costs, implicit fixed costs, and implicit variable costs. True False Question 12 4 pt If Economic profit equals zero, then the firm should shut down in the short run and go out of business in the long run. True e False The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase...
which of the following is most likely to be variable
cost
QUESTION 4 Which of the following is most likely to be a variable cost? O A. Rent for CEO's office OB. Depreciation on production equipment O C. Cost of merchandise O D. Factory supervisor's salary 2.5 p QUESTION 8 Gamma Company has a selling price of $3/unit, unit variable costs of $2/unit and total fixed costs of $1,000. Current sales revenue is $12,000. What is the margin of safety...
Question Completion Status: QUESTION 5 Beta Company provided the following information for June: Beginning inventory of finished goods Beginning inventory of work-in-process Ending inventory of finished goods Direct labor used $5,000 $18,000 $ 3,000 $13,000 $10,000 4,000 $5,500 Raw materials used Manufacturing overhead Cost of goods manufactured (COGM) The company's cost of goods sold (COGS) for June is OA $3,500 B. $2,500 OC.$7,500 D. $42,000 QUESTION 6 Compute cost of ending inventory using the following data: $32,000 Cost of beginning...
Question 2: CVP relation version 2 Current sales revenue is $5,000, total variable costs are $1,000, and total fixed costs are $2,000 (no data on units). a) Compute the contribution margin ratio: CMR b) Write down the CVP relation (version 2): profit as a function of sales revenue. Profit = * Revenue - (e.g., if profit = 0.1*Revenue-500, enter 0.1 in the first box and 500 in the second box). c) Predict profit at sales revenue of $10,000: d) Your...
Question 2: CVP relation version 2 Current sales revenue is $5,000, total variable costs are $3,000, and total fixed costs are $5,000 (no data on units). a) Compute the contribution margin ratio: CMR= b) Write down the CVP relation (version 2): profit as a function of sales revenue. Profit = * Revenue - (e.g., if profit = 0.1*Revenue-500, enter 0.1 in the first box and 500 in the second box). c) Predict profit at sales revenue of $10,000: d) Your...
Question 1: CVP relation Sales volume in units 100 Revenue $8,000 Variable costs $7,000 Contribution margin $1,000 Fixed costs $600 Profit $400 a) Compute the following items: price= unit VC= unit CM= b) Write down the CVP relation. Profit = * volume- (e.g., if Profit=4*volume-1000, enter 4 in the first box and 1000 in the second box). c) Predict profit at sales volume of 120 units: d) Your boss gave you a profit target of $700. How many units do...
QUESTION 24 MONTH January February March April UNITS SOLD TOTAL COSTS 980 $3,500 780 $4,000 1,080 $5,500 1,280 $5,000 Estimate variable costs per unit using the information above. Estimate fixed costs using the information above. QUESTION 16 Estimate unit variable costs and fixed costs using the following information. Month Total Costs Sales Volume (units) March $180 April $190 May $260 June $280 O A. Unit VC = $6/FC = $84 OB. Unit VC = $8/FC = $52 C. Unit VC...
. At current sales revenue of $700, total variable costs are $560 and total fixed costs are $50. Your oss gave you a profit target of $150. How much do you need to sell in dollars to meet this target? A. not enough information need data on units B. $200 C. $250 D. $760 E. $1,000
Question 1: Special order Sales volume in units 90 Revenue $6,300 Variable costs $900 Contribution margin $5,400 Fixed costs $1,600 Profit $18 Special order: A client wants to buy 10 units at a discounted price of $30 per unit. This is a one-time deal (l.e., a short-term decision). You have enough spare capacity to fulfill this special order without cutting back on your regular sales. a) Use the gross approach to decide whether you should take the special order: status...
9. Current sales revenue in dollars is $6,000. The price is $3 per unit, variable costs are $i per unit, and total fixed costs are $1,000. Compute the margin of safety: A not enough information-need to know the breakeven point B. 8.33% C. 25% D. 75% E. 91.67%
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable costs, implicit fixed costs, and implicit variable costs. True False Question 12 4 pt If Economic profit equals zero, then the firm should shut down in the short run and go out of business in the long run. True e False The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase...
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