ACC 350 Week 4 Quiz 3 – TestBank

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ACC 350 Week 4 Quiz 3 (Cost Accounting, 15e (Hornger/Datar/Rajan)

Chapter 3, Cost-Volume Profit Analysis (215 Questions and Answers)

  1. Managers use cost-volume-profit (CVP) analysis to ________.
  2. One of the first steps to take when using CVP analysis to help make decisions is ________.
  3. Which of the following is true of cost-volume-profit analysis?
  4. The selling price per unit less the variable cost per unit is the ________.
  5. In the graph method of CVP analysis, the total revenues line always begins from the x-axis and the total costs line begins from the fixed cost line.
  6. Which of the following is an assumption of CVP analysis?
  7. Which of the following is true of CVP analysis?
  8. A revenue driver is defined as ________.
  9. As per CVP, operating income calculations use ________.
  10. Which of the following is true about the assumptions underlying basic CVP analysis?
  11. The contribution margin income statement ________.
  12. Contribution margin equals ________.
  13. Contribution margin per unit is ________.
  14. Calculate the variable cost per unit.
  15. Contribution margin per software is ________.
  16. If sales increase by $60,000, operating income will increase by ________.
  17. Pacific Company sells only one product for $11 per unit, variable production costs are $3 per unit, and selling and administrative costs are $1.50 per unit. Fixed costs for 10,000 units are $5,000. The operating income is ________.
  18. The contribution income statement highlights ________.
  19. Fixed costs equal $15,000, unit contribution margin equals $25, and the number of units sold equal 1,150. Operating income is ________.
  20. The contribution margin per unit is ________.
  21. If direct labor and direct material costs increase by $1 each, contribution margin ________…………..(Continued 70 Pages)