FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Q: Contribution margin means
A: In the production there are many types of cost some cost change with volume but some do not change…
Q: Define a fixed against a variable cost and give an example of each?
A: A fixed cost is a cost that does not change with the level of output or activity in a business. It…
Q: 6) Define fixed, variable
A: Answer: Fixed cost A fixed cost is a value that doesn't modification over the short, although a…
Q: In describing the cost formula equation, Y = a +bX, which of the following is correct: Multiple…
A: Lets understand the basics.High low method as the name suggest consider highest level of activity…
Q: On a graph, the Total Variable costs line appears to be horizontal in nature. True False
A: Cost: In accounting, the cost is related to monetary value spend on raw material, services, and…
Q: Define and explain the contribution margin.  Include the difference in fixed and variable costs in…
A: Contribution margin may be defined as the amount of profit generated when only the cost of goods…
Q: What are the formulas for: 1. Contribution Cost 2. Break even cost
A: Cost refers to the expense that is incurred for making the goods or providing services by the…
Q: The break-even point is where a.Revenues Costs. c.Revenues = Costs. d.Revenues = Fixed Costs.
A: Formula: Break even units = Fixed cost / Unit contribution margin.
Q: Contribution margin is selling price plus unit cost. True or false
A: Contribution Margin is the income before deduction of any fixed cost. Contribution margin = Selling…
Q: 9. The point where the sales line and the total expense line intersects represents the A. profit…
A: Sales line: Sales line represents the sales incurred by the company over the specific period.…
Q: costs in which there are variable components and fixed components.....
A: Fixed costs will not change with the change in the level of production. Variable costs will change…
Q: In the cost equation TC = F + VX, “V” is best described as the:    Multiple Choice   intercept…
A: The objective of the question is to identify the correct description of 'V' in the cost equation TC…
Q: On a CVP graph, the intersection of the sales revenue line and the total cost line is known as the:…
A: CVP stands for Cost-Volume-Profit analysis. It is helpful in determining the change in the total…
Q: Direct costs minus indirect costs equal total costs Select one: O True False
A: Direct cost  means  Directly  related to production  of output Example  : Direct  material  ,Direct…
Q: Consider the following statements: (1) Total costs will equal the sum of fixed and variable costs.…
A: (1) Total costs will equal the sum of fixed and variable costs. This statement is true because fixed…
Q: How is contribution margin calculated? What about contribution margin ratio? Aren’t they the same…
A: Subtracting the selling price per unit from the variable cost per unit yields the contribution…
Q: Opportunity costs are always: Multiple Cholce sunk costs. relevant costs. fixed costs. varlable…
A: Sunk Cost - It is a cost that has already been spend , and cannot be recovered back  .  Relevant…
Q: ariable costing is sometimes called a. differential b. direct
A: Variable costing is a costing system under which those costs of production that vary with output are…
Q: Which of the following cost behaviors cannot be accurately represented by a single straight line? A.…
A: Cost behaviours break down into four expense classifications as follows…
Q: Which of the following is a correct definition of the margin of safety? The excess of contribution…
A: Margin of safety: Margin of safety is the point at which company makes profit. In other words Margin…
Question

Contribution margin is the difference between total revenue and total variable costs. Select one: O True O False

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