FINANCIAL+MANAG.ACCT.
9th Edition
ISBN: 9781260728774
Author: Wild
Publisher: RENT MCG
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1. Which of the following is TRUE about contribution margin?
Select one:
A. The amount remaining after cost of goods sold has been deducted from sales revenues.
B. The amount remaining fixed costs have been deducted from sales revenue.
C. The amount remaining after fixed costs have been deducted from variable costs.
D. The amount remaining after variable costs have been deducted from sales revenue.
2. Which of the following financial statements reports information as of a specific date?
Select one:
A. Statement of Changes in Equity.
B. Statement of Profit or Loss and other Comprehensive Income.
C. Statement of Cash Flows.
D. Statement of Financial Position.
3. The following are objectives of budgeting EXCEPT:
Select one:
A.
Compare organisational actual achievement with planned goals.
B.
Ensuring departments within an organisation operate as a team.
C.
Establishing and communicating organisational goals.
D.
Developing appropriate high technology information system for an…
Which of the following formulas is used to calculate the contribution margin ratio?(Sales − Fixed costs) ÷ Sales.(Sales − Total costs) ÷ Sales.(Sales − Cost of goods sold) ÷ Sales.(Sales − Variable costs) ÷ Sales.
Which one of the following is defined, at any given sales volume, as the ratio of the total contribution margin to operating profit at that sales volume?
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- The dollar amount of sales needed to achieve a target operating income is computed by dividingbtarget operating income by the contribution margin ratio True Falsearrow_forwardOuration: SO man. Total sales revertue is found by the following formula: a. sales price x quantity of advertising b. saies price x quantity of direct labor c. sales prike xquantity of units purchased d. sales price x quantity of direct materials c. sales price x quantity of units soldarrow_forwardWhat does the term sales mix mean? How is a weighted-average unit contribution margin computed?arrow_forward
- Which of the following ratios indicates the percentage of each sales dollar that is available to cover fixed costs and to provide a profit? a. costs and expenses ratio b. contribution margin ratio c. margin of safety ratio d. profit ratioarrow_forwardThe difference between sales and marginal cost is______________ a. Fixed Cost b. Profit c. Sales price d. Contributionarrow_forwardWhat can the weighted average contribution margin ratio be used for? To solve for a measure, at any level of sales volume, of the sensitivity of operating profit to changes in volume. Breakeven and profit planning for sales volume expressed in dollars (Y) rather than units (Q). To calculate an average per-unit contribution margin based on an assumed sales mix. To figure out the relative proportion in which a company’s products (or services) are sold. To determine the extent of fixed costs in an organization’s cost structure.arrow_forward
- Requirement 2. Which sales representative has the highest contribution margin ratio? Explain why ________ is the sales representative with the highest contribution margin ratio because this representative _________________arrow_forwardQuestion 4: The difference between total sales revenue and total cost of goods sold is the Group of answer choices a Net marketing contribution b Gross marketing contribution c All of these d Trade marginarrow_forwardIn a multi-product company, O Proportion of product sales to total sales at BEP will be equal to proportion of product profit to total profit. O Proportion of product sales to total sales at BEP will reflect sales mix. O Proportion of product sales to total sales at BEP will be equal to proportion of product variable cost to variable cost of all products. O Proportion of product sales to total sales at BEP will be equal to proportion of product contribution to contribution all products.arrow_forward
- The of each product's sales to. O selling price, profit O unit price, expense O ratio, total sales O profit, revenue yields the sales mix.arrow_forwardHow much is the net operating income contributed to the company by Department A and B? Using the data above, what is the segment margin of Department A and B?arrow_forwardcompute for the following items: d. Contribution margin ratio e. Breakeven point in pesos f. Breakeven point in unit salesarrow_forward
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