MGMT 640 Week 8 HW Quiz Answer
Quiz Submissions – Session 8 HW
Thomas Train has collected the following information over the last six months.
Month Units produced Total costs
March 10,000 $25,600
April 12,000 26,200
May 19,200 28,000
June 13,000 26,450
July 12,000 26,000
August 15,000 26,500
Rooter’s Cleaning Services provided data concerning the costs incurred to clean hotel rooms for which hotel customers pay $150 per night. Data for the past 7 months are as follows:
January February March April May June July
Number of rooms cleaned 250 160 200 150 300 170 260
Cleaning cost $6,450 $4,060 $5,100 $4,100 $6,760 $4,200 $6,530
How much are estimated monthly variable costs using the high-low method?
A cost is $3,600 at 1,000 units, $7,000 at 2,000 units, and $9,200 at 3,000 units. This cost is a
Winny’s Office Furniture has a contribution margin ratio of 16%. If fixed costs are $183,800, how many dollars of revenue must the company generate in order to reach the break-even point?
Tim Taylor has written a self improvement book that has the following cost characteristics:
Selling Price $16.00 per book
Variable cost per unit:
Selling & administrative 2.00
Production $88,200 per year
Selling & administrative 21,900 per year
How many units must be sold to break-even?
The use of fixed cost to increase profits at a rate faster than sales increase is called:
“What if “ analysis
contribution margin approach
Assume Sparkle Co. expects to sell 150 units next month. The unit sales price is $100, unit variable cost is $45, and the fixed costs per month are $5,000. The margin of safety is:
Which of the following statements about the relevant range is true?
Cost functions outside the relevant range are usually linear
The relevant range is the normal length of time in a company’s accounting period
Estimates outside the relevant range are useful
Cost functions within the relevant range are assumed to be linear
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