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Quiz+2+Chapt+4+5+and+7+take+home

Quiz+2+Chapt+4+5+and+7+take+home - Chapter 4 5 7 Take home...

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Chapter 4, 5 & 7 Take home Quiz ACCT 2101 PLEASE PLACE ALL ANSWERS IN THE ANSWER BOXES PROVIDED!! 1. When fixed costs are $60,000, the variable cost is $4 per unit, and the product sells for $22 per unit, the breakeven point in units is? 2. After reviewing the following contribution margin income statement for the year ending December 31, 2005, answer the following questions: a. Calculate the selling price b. Calculate the variable costs c. Calculate the breakeven point in sales Sedona Ltd. Contribution Margin Income Statement For the Year Ended December 31, 2005 Sales (10,000) Less Variable costs: Variable Cost of goods sold Variable Selling, Administrative, and General Total Variable Costs Contribution Margin Less Fixed costs: Overhead Selling, Administrative, and General Total Fixed Costs Net Income $8,000,000 $4,000,000 $1,200,000 $ 800,000 $16,000000 $12,000,000 $ 4,000,000 $ 2,000,000 $ 2,000,000 a. c. b.
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3. The Controller of James Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs.
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