01 Jun Question Question 1 Which of the following is not an assumption of the linear breakeven model:
Question
Question 1
Which of the following is not an assumption of the linear breakeven model:
Answer
| constant selling price per unit | ||
| decreasing variable cost per unit | ||
| fixed costs are independent of the output level | ||
| a single product (or a constant mix of products) is being produced and sold |
Question 2
In the linear breakeven model, the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by:
Answer
| one minus the variable cost ratio | ||
| contribution margin per unit | ||
| selling price per unit | ||
| standard deviation of unit sales |
Question 3
George Webb Restaurant collects on the average $5 per customer at its breakfast & lunch diner. Its variable cost per customer averages $3, and its annual fixed cost is $40,000. If George Webb wants to make a profit of $20,000 per year at the diner, it will have to serve__________ customers per year.
Answer
| 10,000 customers | ||
| 20,000 customers | ||
| 30,000 customers | ||
| 40,000 customers | ||
| 50,000 customers |
Question 4
Theoretically, in a long-run cost function:
Answer
| all inputs are fixed | ||
| all inputs are considered variable | ||
| some inputs are always fixed | ||
| capital and labor are always combined in fixed proportions |
Question 5
In the linear breakeven model, the difference between selling price per unit and variable cost per unit is referred to as:
Answer
| variable margin per unit | ||
| variable cost ratio | ||
| contribution margin per unit | ||
| target margin per unit |
Question 6
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