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Accounting Expert Answers & Study Resources : Page 73

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31) The following selected data relates to Lazarus Corporation: Total fixed costs $22,000 Sale price per unit $25 Variable costs per unit $18 Assuming 8,000 units are sold, what is the contribution margin? A) $56,000 B) $78,000 C) $34,000 D) $344,000 32) The following selected data relates to Lazarus Corporation: Total fixed costs $22,000 Sale price per unit $25 Variable costs per unit $18 If sales revenue per unit.

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  • 31) The following selected data relates to Lazarus Corporation: Total fixed
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54) Waterfront Tours Company offers guided mini-bus tours through downtown Toronto. The tour business is highly regulated by the city. Waterfront Tours Company has the following operating costs during July: Monthly depreciation expense on non-automotive equipment$5,250 Fee paid to the City of Toronto12% of ticket revenue Cost of souvenir set of postcards given.

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  • 54) Waterfront Tours Company offers guided mini-bus tours through downtown
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49) Sandy Valley Company has the following selected data for the past year: Units sold during year           30,000 Units produced during year           40,000 Units in ending inventory           10,000 Variable manufacturing cost per unit $5.50 Fixed manufacturing overhead (in total) $20,000 Selling price per unit $10.00 Variable selling and administrative expense per.

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  • 49) Sandy Valley Company has the following selected data for
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11) Contribution margin income statements organize costs by behavior rather than by function. 12) On a traditional income statement, sales revenue less cost of goods sold equals: A) contribution margin. B) gross profit. C) operating income. D) operating expenses. 13) GAAP allows companies to use ________ for external reporting purposes. A) only the traditional format of the.

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  • 11) Contribution margin income statements organize costs by behavior rather
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31) Preston Racquets manufactures tennis racquets. The following data are available for last month. Units in beginning inventory 0 Units produced during year 1,200 racquets Units in ending inventory 200 racquets Sales commissions per racquet $10.00 Fixed manufacturing overhead $48,000 Fixed marketing expenses $12,000 Selling price per racquet $200 Variable manufacturing cost per racquet $110 Using variable costing, what is the contribution margin for last month? A).

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  • 31) Preston Racquets manufactures tennis racquets. The following data available
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41) During the past year, Pettay Enterprises had the following fixed costs: Fixed manufacturing costs $112,000 Fixed marketing costs $43,000 Fixed administrative costs $18,000 The company also had the following variable costs: Variable manufacturing costs $142,000 Variable marketing costs $37,000 Variable administrative costs $28,000 During the year, the company produced and sold 60,000 units of the product at a selling price of $7.00 per.

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  • 41) During the past year, Pettay Enterprises had the following
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21) If the sale price per unit is $26, the variable expense per unit is $19.50, and the breakeven sales in dollars is $47,320, what are total fixed expenses? A) $11,830 B) $1,820 C) $15,773 D) $280 22) Busson Company management has budgeted the following amounts for its next fiscal year: Total fixed expenses $58,300 Sale price per.

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  • 21) If the sale price per unit $26, the variable
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48) Marietta Piping Corporation provides the following information about its single product. Targeted operating income $60,000 Selling price per unit $120.00 Variable cost per unit $45.00 Total fixed cost $90,000 What is the breakeven point in units? A) 545 B) 1,200 C) 800 D) 364 49) Marietta Piping Corporation provides the following information about its single product. Targeted operating income $60,000 Selling price per unit $120.00 Variable cost per.

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  • 48) Marietta Piping Corporation provides the following information about its
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53) Spadina Carriage Company offers guided mini-bus tours through downtown  Toronto. The tour business is highly regulated by the city. Spadina Carriage Company has the following operating costs during July: Monthly depreciation expense on non-automotive equipment. $3,625 Fee paid to the City of Toronto15% of ticket revenue Cost of souvenir set of postcards.

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  • 53) Spadina Carriage Company offers guided mini-bus tours through downtown 
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