Financial Accounting > QUESTIONS & ANSWERS > University of Louisiana, Lafayette ACCT 526 / ACCT526 Quiz 4 (All)
University of Louisiana, Lafayette ACCT 526 / ACCT526 Quiz 4
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ACCT526-820_020-201840 Started on Saturday, 7 April 2018, 9:15 PM State Finished Completed on Saturday, 7 April 2018, 9:16 PM Time taken 1 min 11 secs Grade 10.00 out of 10.00 (100%) Question 1 ... Correct Mark 2.00 out of 2.00 Flag question Question text Cinder Block Industries currently produces and sells 20,000 units of product at a selling price of $10. The product has variable costs of $4 per unit and a fixed cost of $50,000. The company currently earns a total contribution margin of Select one: a. $50,000 b. $120,000 c. $200,000 d. $70,000 Feedback Your answer is correct. The correct answer is: $120,000 Question 2 Correct Mark 2.00 out of 2.00 This study source was downloaded by 100000831988016 from CourseHero.com on 03-28-2022 14:55:17 GMT -05:00 https://www.coursehero.com/file/30550790/ACCT-526-Quiz-4docx/ Flag question Question text Clear Springs Bottling Company produces a soft drink that is sold for a dollar. The company pays $400,000 in production costs, of which $260,000 are variable production costs. General, selling and administrative costs amount to $290,000 of which $90,000 are variable costs. Assuming production and sales of 800,000 units, what is the amount of contribution margin per unit? Select one: a. None of these are correct b. $0.3125 c. $0.1375 d. $0.5625 Feedback Your answer is correct. The correct answer is: $0.5625 Question 3 Correct Mark 2.00 out of 2.00 Flag question Question text AMC, Inc. produces a product that has a variable cost of $2.50 per unit. The company's fixed costs are $30,000. The product is sold for $5.00 a unit and the company desires to earn a $20,000 profit. The breakeven in units for AMC is which of the following amounts? Select one: a. 4,000 This study source was downloaded by 100000831988016 from CourseHero.com on 03-28-2022 14:55:17 GMT -05:00 https://www.coursehero.com/file/30550790/ACCT-526-Quiz-4docx/ b. 12,000 c. 5,000 d. 6,000 Feedback Your answer is correct. The correct answer is: 12,000 Question 4 Correct Mark 2.00 out of 2.00 Flag question Question text CMA, Inc. produces a product that has a variable cost of $2.50 per unit. The company's fixed costs are $30,000. The product is sold for $5.00 per unit and the company desires to earn a target profit of $20,000. What amount of sales will be necessary to earn the desired profit? Select one: a. $60,000 b. $20,000 c. $100,000 d. $40,000 Feedback Your answer is correct. The correct answer is: $100 [Show More]
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