chapter_23 - CHAPTER 23 Cost-Volume-Profit Relationships...

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23-1 CHAPTER 23 Cost-Volume-Profit Relationships ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems * 1. Distinguish between vari- able and fixed costs. 1, 2, 3, 6, 8 1 1, 2 1A 1B * 2. Explain the significance of the relevant range. 4,5 2 * 3. Explain the concept of mixed costs. 6, 7, 8 3, 4 1, 2 1A 1B * 4. List the five components of cost-volume-profit analysis. 7, 8, 9 * 5. Indicate what contribution margin is and how it may be expressed. 10, 11 5 3, 5 1A, 2A, 3A 1B, 2B, 3B * 6. Identify the three ways to determine the break-even point. 12, 13, 14 6 3, 4, 6 1A, 2A, 3A, 4A 1B, 2B, 3B, 4B * 7. Define margin of safety and give the formulas for computing it. 15 7 3, 4 2A, 4A 2B, 4B * 8. Give the formula for de- termining sales required to earn target net income. 16 8 6, 7 2A 2B * 9. Describe the essential features of a cost-volume- profit income statement. 17 9 8 2A, 4A 2B, 4B *10. Explain the difference between absorption cost- ing and variable costing. 18, 19 10 9 5A 5B * N o t e : Al l a s t e r i s ke d Q ue s t i on s , Ex e r c i se s , an d Pr o b le m s re la t e to ma t e r i a l co nt ai n ed in t h e ap p e n - d i x * t o t h e ch a p t e r .
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23-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Determine variable and fixed costs, compute break-even point, prepare a CVP graph, and determine net income. Simple 20-30 2A Prepare a CVP income statement, compute break-even point, contribution margin ratio, margin of safety ratio, and sales for target net income. Moderate 30-40 3A Compute break-even point under alternative courses of action. Simple 20-30 4A Compute break-even point and margin of safety ratio, and prepare CVP income statement before and after changes in business environment. Moderate 20-30 5A Prepare income statements under absorption and variable costing. Moderate 30-40 1B Determine variable and fixed costs, compute break-even point, prepare a CVP graph, and determine net income. Simple 20-30 2B Prepare a CVP income statement, compute break-even point, contribution margin ratio, margin of safety ratio, and sales for target net income. Moderate 30-40 3B Compute break-even point under alternative courses of action. Simple 20-30 4B Compute break-even point and margin of safety ratio, and prepare CVP income statement before and after changes in business environment. Moderate 20-30 5B Prepare income statements under absorption and variable costing. Moderate 30-40
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23-3 Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation * 1. Distinguish between variable and fixed costs. Q23-1 Q23-2 Q23-3 Q23-6 BE23-1 E23-1 Q23-8 E23-2 P23-1A P23-1B 2. Explain the significance of the relevant range. Q23-4 Q23-5 BE23-2 3. Explain the concept of mixed costs. Q23-7 BE23-4 BE23-3 4. List the five components of cost- volume-profit analysis. Q23-9 5. Indicate what contribution margin is and how it may be expressed. Q23-10 Q23-11 E23-3 E23-5 BE23-5 P23-2A P23-2B P23-3A P23-3B 6. Identify the three ways to deter- mine the break-even point.
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chapter_23 - CHAPTER 23 Cost-Volume-Profit Relationships...

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