4. 1 POINT 2 POINTS 3 POINTS 4 POINTS 5 POINTS Choc. Creme 1 POINT 4 POINTS 3 POINTS 2 POINTS2 POINTS 3 POINTS 2 POINTS 5 POINTS 2 POINTS 3 POINTS 4 POINTS 5 POINTS 4 POINTS 3 POINTS 4 POINTS 5 POINTS GlazedJelly Boston Creme Cruller

5. This is what a fixed cost graph looks like. 1 POINT

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7. This is what a mixed cost graph looks like. 2 POINTS

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9. These are the three most common cost behavior classifications 3 POINTS

10. What is fixed, mixed and variable

11. 4 POINTS This is what happens to a fixed cost per unit as production increases – show graph

12. | \ ------------ (best I can do….)

13. ________ costs vary in direct proportion to units produced. 5 POINTS

14. What is variable?

15. Electricity usage in a factory would be what type of cost behavior? 1 POINT

16. What is variable?

17. The production supervisor’s salary in a factory would be what type of cost behavior? 2 POINTS

18. What is fixed?

19. If Sales are $1,000,000, variable costs are $700,000, and fixed costs are $200,000, what is the contribution margin in dollars? 3 POINTS

20. What is $300,000?

21. If Sales are $1,000,000, variable costs are $700,000, and fixed costs are $200,000, what is the contribution margin ratio? 4 POINTS

22. What is 30%?

23. If Sales are $1,000,000, contribution margin ratio is 28%, what is the dollar amount of variable costs if fixed costs are $200,000? 5 POINTS

24. What is 720,000?

25. Sales-Variable costs = 1 POINT

26. What is contribution margin?

27. If fixed costs increase, breakeven will ______ 2 POINTS

28. increase

29. If variable costs decrease, breakeven will _____ 3 POINTS

30. decrease

31. 4 POINTS If selling price decreases, breakeven will ______

32. Increase

33. Fixed costs are $45,000, sales price per unit is $10, variable cost per unit is $5. Breakeven is ______. 5 POINTS

34. What is 9,000 units?

35. This type of costing is where cost of goods sold includes DM, DL and variable FOH. 1 POINT

36. What is variable costing?

37. This type of costing is where cost of goods sold includes DM, DL and FOH. 2 POINTS

38. What is absorption costing?

39. A distribution of sales amongst various products is referred to as _____ mix. 3 POINTS

40. What is sales?

41. This is formula to calculate break even in sales with a target profit. 4 POINTS

42. (Fixed costs + Target profit)/Unit contribution margin

43. 5 POINTS This method calculates fixed and variable cost using various production levels.

44. What is the hi-lo method?

45. 1 POINT

47. 2 POINTS

49. 3 POINTS

51. 4 POINTS

52. Render an opinion on the fairness of financial statements.

53. This is where management gives their opinion of the financial statements and can be completely biased. 5 POINTS

56. CATEGORY: Sales Mix MAKE YOUR WAGER!

57. ANSWER: Sales mix for product A and B is 70%/30%. Fixed costs are $500,000. Product A has a sales price of $200 and variable cost of $150, product B has a sales price of $150 and a variable cost of $100. What is the breakeven point in units for A and B?

58. QUESTION A= 7000 B = 3000