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ACC 561 Week 4 Assignment Practice Quiz.pdf


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Multiple Choice Question 100
The equation which reflects a CVP income statement is
Entry field with correct answer
Sales + Fixed costs = Variable costs + Net income.
Sales – Variable costs + Fixed costs = Net income.
Sales – Variable costs – Fixed costs = Net income.
Sales = Cost of goods sold + Operating expenses + Net income.

Multiple Choice Question 104
A company sells a product which has a unit sales price of $5, unit variable cost of $3 and
total fixed costs of $150,000. The number of units the company must sell to break even is
50,000 units.
30,000 units.
75,000 units.
300,000 units.

Multiple Choice Question 93
Only direct materials, direct labor, and variable manufacturing overhead costs are
considered product costs when using
variable costing.
absorption costing.
product costing.
full costing.