ACC 561 ACC561 ACC/561 Week 4 Quiz (10/10) (Most recent Updated : 7/11/2014) - 68861

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A variable cost is a cost that

 

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

 

A fixed cost is a cost which

 

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?

 

Contribution margin

 

The equation which reflects a CVP income statement is

 

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

 

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

 

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

 

Management may be tempted to overproduce when using

Solution Description

A variable cost is a cost that

 

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

 

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