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- Assume markup percentage equals desired profit divided by total costs. What is the correct calculation to determine the dollar amount of the markup per unit? Select one: a. Total cost per unit times markup percentage per unit. b. Total cost per unit divided by markup percentage per unit. c. Total cost times markup percentage. d. Markup percentage divided by total cost. e. Markup percentage per unit divided by total cost per unit.Baxter Corporation has been using FIFO during a period ofrising costs. Explain whether you would expect each of the following measurements to be higher or lower if the com-pany had been using LIFO. a. Net income.b. Inventory turnover rate.c. Income taxes expense.Choose the correct letter of answer On a scattergrap, the diagonal line cuts across two sets of observations, namely: 600:200, and 900:500 which refer to costs and units, respectively. The fixed costs is plotted in the graph at P400. In this case, the variable cost per unit is equal to: a. P1.00b. P1.25c. P1.50d. P1.12
- The dollar amount of sales needed to achieve a target operating income is computed by dividingbtarget operating income by the contribution margin ratio True FalseDetermine the missing amounts in the following table: unit sales price unit varible costs unit contribution margin contribution margin ratio (%) $22 10 10 24 50 25First: When the number of units in inventories decrease between the beginning and end of the period, absorption costing net operating income will typically be greater than variable costing net operating income. Second: When viewed over the long term, accumulated net operating income will be the same for variable and absorption costing if there are no ending inventories at the end of the term. * a. Both statements are true b. Only the first statement is true c. Only the second statement is true d. Both statements are false
- Please answer the blank areas including total expenses, income from operations, what is the expected margin of safety in dollars and as a percentage of sales (if required , round the percent to one decimal place) and determine the operating leverage . Thx ( please provide explanations).True or false. economic order quantity occurs where the total cost total annual carrying equals the total annual ordering costOn the cost- volume -profit graph , the area between the total cost line and the sales line before the break -even point represents a. The profit area b. The variable cost amount c . The contribution margin per unit d. The fixed cost amount d. The loss area
- Listed below are nine technical accounting terms introduced in this chapter:Variable costs Relevant range Contribution marginBreak-even point Fixed costs Semivariable costsEconomies of scale Sales mix Unit contribution marginEach of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer “None” if the statement does not cor-rectly describe any of the terms. a. The level of sales at which revenue exactly equals costs and expenses.b. Costs that remain unchanged despite changes in sales volume.c. The span over which output is likely to vary and assumptions about cost behavior generallyremain valid.d. Sales revenue less variable costs and expenses.e. Unit sales price minus variable cost per unit.f. The reduction in unit cost achieved from a higher level of output.g. Costs that respond to changes in sales volume by less than a proportionate amount.h. Operating income less variable costs.When company reduced its inventories to zero, then a) Variable costing income > Absorption costing income b) Variable costing income = Throughput costing income c) Variable costing income > Throughput costing income d) Variable costing income < Absorption costing incomeWhen using the high-low method to estimate costs, the formula “Change in Cost divided by Change in Units” (or “Change in Total Cost divided by Change in Activity Level”) is used to estimate the: Fixed cost per unit Mixed cost per unit Profit per unit Indirect cost per unit Variable cost per unit Differential cost per unit Opportunity cost per unit