Reference no: EM132594950
Question 1 - XYZ Corporation's monthly target profit is $360,000. The selling price per unit is $200, variable expenses per unit are $50, and fixed expenses per month are $150,000. What is the closest number of units of product that the company must sell?
a. 3,400 units
b. 2,400 units
c. 10,200 units
d. 1,000 units
Question 2 - A company with a higher degree of operating leverage
a. increases its contribution margin at a higher rate for a given increase in sales
b. has a higher breakeven level of sales.
c. increases its income at a higher rate for a given increase in sales
d. has a higher margin of safety
Question 3 - Which of the following is manufacturing overhead for a company that produces ready-made prom dresses?
a. Sales Commissions of Agents
b. Salary of Chief Executive Officer
c. Salary of Sewing Supervisor
d. Salary of Accountant
Question 4 - ABC Corp. produces and sells one product. The budgeted selling price is $105. Budgeted sales for July, August, September, and October are 7,400, 7,500, 13,800 and 15,300 units, respectively. All sales are on credit. Regarding credit sales, 40% are collected in the month of the sale and 60% in the following month. What is the budgeted balance at the end of August for the Accounts Receivable account?
a. $525,000
b. $472,500
c. $325,000
d. $787,500
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