Maurice Tutor

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Teaching Since: May 2017
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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 9.00

long-term planning

Discretionary fixed costs:

Answer

    A. vary directly and proportionately with the level of activity.
    B. have a long-term planning horizon, generally encompassing many years.
    C. are made up of plant, equipment, and basic organizational costs.
   

D. None of these.

 

Question 18, 19 and 20 use the following information:

The following is Addison Corporation's contribution format income statement for last month:

Sales

  

$ 1,000,000

Variable expenses

  

700,000

Contribution margin

  

300,000

Fixed expenses

  

180,000

Net operating income

  

$ 120,000



The company has no beginning or ending inventories. A total of 20,000 units were produced and sold last month.

18. What is the company's contribution margin ratio?

Answer

    A. 250%
    B. 150%
    C. 70%
   

D. 30%

 

19. What is the company's break-even in units?

Answer

    A. 20,000 units
    B. 0 units
    C. 18,000 units
   

D. 12,000 units

 

20. How many units would the company have to sell to attain the target profit of $150,000?

Answer

    A. 22,000
    B. 37,500
    C. 25,000
   

D. 26,667

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 06:08 PM My Price 9.00

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