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Book Cover
Financial and Managerial Accounting: The Basis for Business Decisions, 12/e
Jan R. Williams, University of Tennessee
Susan F. Haka, Michigan State University
Mark S. Bettner, Bucknell University
Robert F. Meigs
Cost-Volume-Profit Analysis

True/False Quiz

Please answer all questions



1

Item A sells for $5. Fixed costs per unit are $1, and variable costs per unit are $3. The contribution margin ratio for item A is 20%.
A)True
B)False
2

Woods Company has fixed costs of $46,000 a month and an average contribution margin ratio of 30%. If monthly sales volume is $150,000, the company will operate at a profit.
A)True
B)False
3

It is not possible to estimate the break-even point when a company sells numerous products.
A)True
B)False








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