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Units produced Total Cost
If the high-low method is used, what is the monthly total cost equation?
a. Total cost = $8,800 + ($22 x units produced)
b. Total cost = $11,000 + ($20 x units produced)
c. Total cost = $0 + ($30 x units produced)
d. Total cost = $6,600 + ($24 x units produced)
Which month’s data will the accountants use to estimate costs?
a. January and May
b. February and April
c. January and April
d. February and May
a. 2,500 units
d. 2,000 units
depreciation, $2,000; materials, $2,000; and rent, $3,000. How much is the variable cost per unit?
Order processing 150,000
Billing labor 110,000
Delivery costs 180,000
Selling expenses 60,000
Total variable costs 700,000
Fixed costs 1,000,000
How much is the contribution margin per unit?
a. No effect. Fixed costs stay the same at every activity level
b. An inverse effect
c. A directly proportional effect
d. It depends on the particular level of activity
a. It is a study of how a firm’s costs relate to competitors’ costs
b. It is a study of how specific costs respond to activity level changes
c. It is a variation of the high-low method
d. It is an assumption that all costs increase over time
a. Direct costs are allocated, indirect costs are not
b. Indirect costs are allocated, direct costs are not
c. Both direct and indirect costs are allocated
d. Neither direct nor indirect costs are allocated
e. Total departmental costs will always be the same
a. $4,500; $4,500
b. $5,800; $3,200
c. $5,500; $3,500
d. $5,500; $4,500
e. $5,400; $3,600
a. A responsibility accounting system
b. A cost center accounting system
c. Controllable costing
d. Activity based costing
e. Performance costing
a. Accounting department
b. Purchasing department
c. Research department
d. Advertising department
e. All of the above could be considered cost centers
Speakerboxx Music, Inc. produces a hip-hop CD that is sold for $15. The contribution margin ratio is 30%. Fixed expenses total $6,750.
A. Compute the variable cost per unit.
B. Compute how many CDs that Speakerboxx will have to sell in order to break even.
C. Compute how many CDs that Speakerboxx will have to sell in order to make a target net income of $16,200.
D. Fill in the dollar amounts for the summary income statement below based on your answer to part C.
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