Cornerstones of Managerial Accounting Study Set 1
Quiz 4: Costvolumeprofit Analysis: a Managerial Planning Tool
Refer to the Figure
Refer to the Figure.How many sales in dollars are needed to generate a profit of $30,000? A) $100,000 B) $150,000 C) $214,286 D) $500,000
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Which of the following distinguishes a profit-volume graph from a cost-volume-profits graph? A) Costs are associated with units produced. B) Operating income is associated with expected sales. C) Revenues and costs are associated with sales volume. D) Revenues are expected at targeted sales levels.
What relationship is visually portrayed by a profit-volume graph? A) total sales and total cost B) profits and units sold C) fixed costs and variable costs D) total sales and units sold
Which of the following is characteristic of the profit-volume graph? A) It is difficult to interpret. B) It fails to reveal how costs change as sales volume changes. C) It can be plotted only if the break-even point is known. D) It can be plotted only if fixed costs are known.
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