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ACC 561 Week 4 Practice Quiz

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ACC 561 Week 4 Practice Quiz

Multiple Choice Question 39

A variable cost is a cost that

 

Multiple Choice Question 42

An increase in the level of activity will have the following effects on unit costs for variable and fixed costs:

Unit Variable Cost

Unit Fixed Cost

 

 

Multiple Choice Question 43

A fixed cost is a cost which

 

 

 

Multiple Choice Question 86

Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $14 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?

 

Multiple Choice Question 87

Contribution margin

 

 

 

Multiple Choice Question 100

The equation which reflects a CVP income statement is

 

 

Multiple Choice Question 104

A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $150,000. The number of units the company must sell to break even is

 

 

 

Multiple Choice Question 93

Only direct materials, direct labor, and variable manufacturing overhead costs are considered product costs when using

 

   

Multiple Choice Question 96

Under absorption costing and variable costing, how are fixed manufacturing costs treated?

Absorption

Variable

 

 

Multiple Choice Question 121

Management may be tempted to overproduce when using

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