parqz1sol

parqz1sol - ACG 2071 Participation Quiz Version A 1. (1...

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ACG 2071 Participation Quiz – Version A 1. (1 point-1 minute) Watson provided the following information for June. Sales $900,000 Variable expenses 511,650 Fixed expenses 280,250 Show the calculation of the contribution margin ratio. Circle your answer and display it with two decimals. ($900,000 - $511,650) / $900,000 = 43.15% Note that the CMR is always expressed as a decimal with two decimals places displayed. o 2. (2 points – 1.5 minutes) Harris Time Pieces produced and sold 1,200 clocks during March. At this level of production, the unit amounts of each clock at this level of activity are: selling price of $18, variable cost of $7, and fixed cost of $4. Show the calculation of the total cost if Harris produces and sells 1,400 clocks. Circle your answer. Total fixed costs = $4*1,200 = $4,800 TC at 1,400 units = ($7*1,400) + $4,800 = $14,600 o 3. (3 points – 3 minutes) Wilson, Inc. provided the following information concerning its widget costs: June July August September October Units produced 41,000 43,000 40,300 41,200 43,400 Total cost per month $75,000 $80,900 $75,850 $72,000 $80,500 Use the high-low method to determine the cost equation. Show all calculations here:
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parqz1sol - ACG 2071 Participation Quiz Version A 1. (1...

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