marks = ________ % Grade: Question I: Identification: Fill in the blanks the correct answer. You are having a dress shop‚ indicate the proper classification of cost behavior whether it is VARIABLE or FIXED for each of the following items below: |Cost Element |Cost Behavior | |Material used to make shirts |
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1. Product costs used for pricing and product-mix decisions generally include: Answer | | manufacturing costs only | | | design costs plus manufacturing costs | | | all costs incurred along the value chain | | | distribution costs only | 0.1 points Question 4 Within the relevant range‚ if there is a change in the level of the cost driver‚ then: Answer | | fixed and variable costs per unit will change | | | fixed and variable costs per unit will remain the
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CVP and Break-Even Analysis ACC/561 - Accounting Wk 5 August 29‚ 2011 Snap Fitness Snap Fitness‚ a fitness business based in Minnesota‚ offers franchise opportunities. The opportunity comes with a start-up fee ranging from $60‚000 to $184‚000. The following items are included in the start-up fee: 1. Franchise Fee 2. Grand Opening Marketing 3. Leasehold Improvements 4. Utility and Rent Deposits 5. Training Many people dream of owning a business as opposed to working for
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midterm as a Word document. 1. You want to use break-even and target profit analysis with respect to the introduction of a new product in the marketplace. Your manager says you are wasting your time because the best determination of profitability is the income statement after this product has been introduced. Explain why your manager is wrong. In order to fully understand the process of profitability within a business‚ we must understand what break-even and target profit analysis represent and the
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The organization that I chose is the United Way of America. I chose this organization because there is one right here in my hometown. I have volunteered with them‚ I have taken some certification classes‚ and even help organize some projects with them. The United Way here is also known as Live United. This is such an awesome organization. The United Way of America has a vision‚ mission & goals. Their vision is that the world where families and individuals can achieve human potential through
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Dora’s Balance Sheet Balance Sheets A general ledger is the foundation of a company ’s financial records‚ as they constitute the central summary of a company ’s financial system. Every transaction is recorded through the general ledger. These records remain as a permanent track of the history of all financial transactions since the opening day of the company (Exodus Wellness Center.). The purpose of any business is to increase the owner ’s equity through solid revenues. These revenues increase
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Final Project Overview and Timeline Final Project Overview The final project for HSM 260 is a compilation of various financial aspects of a nonprofit organization. Nonprofit Organization Profile In 2000‚ XYZ Corporation was incorporated as a 501(c)3 nonprofit in the state of Texas. The organization’s mission is to provide psychiatric counseling services for residents of El Paso County. XYZ receives funding from the state government on an annual basis to provide services to those deemed
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3.3 Evaluate break-even analysis as a decision-making tool. The definition of the Break-even analysis: The break-even analysis is an analysis of a product or company’s sales required to neither lose money nor make a profit‚ but simply to cover costs. Explain in mathematical term: total revenues – total costs = 0. The methods: By using a break-even formula or by drawing a break-even chart. Why is it so important using a break-even analysis? Because it gives vital information about a business or
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for $20 a box. The lights cost Marsha $5 a unit and any unsold lights can be returned for a full refund. She is planning to rent a booth at the upcoming Happy Holidays Convention‚ which offers three options: 1. paying a fixed fee of $1‚500‚ or 2. paying a $500 fee plus 10% of revenues made at the convention‚ or 3. paying 25% of revenues made at the convention.Which of the following statements is FALSE? Answer | | One of the options will allow Marsha to break even‚ even if she doesn ’t sell any
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| |Average variable cost per passenger | |$70 | |Fixed operating cost per month | | |$3‚150‚000 | a. What is the break-even point in passengers and revenues per month? Fixed cost = 3‚150‚000 160x = 70x + 3‚150‚000 90x = 3‚150‚000 X = 35‚000 passengers – breakeven Break even revenue = 35‚000 x 160 = 5‚600‚000 b. What is the break-even point in number of passenger train
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