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13 Dec 2019

Which of the following statements is true?

A firm's sales have decreased 18% which could be a result of the selling price decreasing or the number of units sold decreasing.

A firm's sales have decreased 12% which could be a result of the selling price increasing and the number of units sold remaining the same compared to the prior year.

A firm's sales have increased 8% which could be a result of the selling price decreasing and the number of units sold decreasing.

A firm's sales have increased 32% which could be a result of the selling price decreasing and the number of units sold remaining the same compared to the prior year.

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Nelly Stracke
Nelly StrackeLv2
17 Dec 2019
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Related questions

1) Zehms,Inc. has a contribution margin per unit of $21 and a contributionmargin ratio of 60%. How much is the selling price of eachunit?

A) Cannot be determinedwithout more information

B) $35
C) $52.50
D) $12.60

2)Which ofthe following statements is nottrue?
A.When acompany's sales revenue is increasing, high operating leverage isgood because it means that profits will increaserapidly.
B.When acompany's sales revenue is decreasing, high operating leverage isgood because it means that profits will decrease at a slower pacethan revenues decrease.
C.Operatingleverage refers to the extent to which a company's net incomereacts to a given change in sales.

D. Companies that have higher fixed costs relative to variablecosts have higher operating leverage.

3. WarnerManufacturing reported sales of $2,000,000 last year (100,000 unitsat $20 each), when the break-even point was 75,000 units. Warner'smargin of safety ratio is

A.33%. B.25%.C.75%. D.125%

4. In2012, Raleigh sold 1,000 units at $500 each, and earned net incomeof $50,000. Variable expenses were $300 per unit, and fixedexpenses were $150,000. The same selling price is expected for2013. Raleigh's variable cost per unit will rise by 10% in 2013 dueto increasing material costs, so they are tentatively planning tocut fixed costs by $15,000. How many units must Raleigh sell in2013 to maintain the same income level as 2012?

A.1,088
B.794
C.971
D.1,176






1For the revenue process which of the following document sequences is correct?

Customer order, sales order, packing slip, bill of lading
Sales order, packing slip, customer order, bill of lading
Customer order, bill or lading, sales order, packing slip
Customer order, packing slip, sales order, bill of lading

2

During the current year, ending inventory was higher under the LIFO method than under the FIFO method. Which of the following statements about price changes is true?

Prices were unchanged.
Prices were increasing.
Unable to determine from the information given
Prices were decreasing.

3

In times of rising prices, ______ generally result(s) in the ______ cost of goods sold.

FIFO, higher
FIFO, lower
LIFO, lower
LIFO and FIFO, same

Question 4 1 pts Vandagriff Corporation has provided data concerning the company's Manufacturing Overhead account for the month of June. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $77,000 and the total of the credits to the account was $64,000. Which of the following statements is true as a result of posting a closing entry to manufacturing overhead to balance the account? Cost of goods sold would be decreased and profits would be increased. Cost of goods sold and profits would both be decreased. Cost of goods sold would be increased and profits would be decreased Cost of goods sold and profits would both be increased

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