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ANSWERS Homework _1 Part 2

ANSWERS Homework _1 Part 2 - Homework#1 Part 2 Which of the...

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Homework #1 Part 2 Which of the following is never included in direct materials costs? Invoice costs of direct materials. Outgoing delivery charges. Materials storage costs. Materials handling costs. All of the above are direct material costs. During its most recent fiscal year, Simon Enterprises sold 200,000 electric screwdrivers at a price of $15 each. Fixed costs amounted to $400,000 and net income was $600,000. What amount should have been reported as variable costs in the company’s contribution margin income statement for the year? $2,400,000 $1,600,000 $3,000,000 $2,000,000 $1,000,000 The difference between sales price per unit and variable cost per unit is the: Gross profit from sales. Gross margin per unit. Fixed cost per unit. Margin of safety per unit. Contribution margin per unit. Four Legs, Inc. produces and sells tables. The company had the following cost information available: wood for production $15,000, wages for production line workers $12,000, utilities costs for the factory $5,000, wages for sales staff $8,000, factory manager’s salary $3,000 and rent on a copy machine for the office $400.
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