1.Given a fixed cost of $15,000 and a breakeven sales revenue of $45,000, what is the contribution margin percentage?
2.What is obtained by dividing the gross margin by total revenues?
3.To determine the __________, the gross margin is combined with the cost of goods sold.
4.What term describes the difference between total sales and the breakeven sales amount?
5.Given a budgeted revenue of $20,000 and a breakeven revenue of $15,000, what is the margin of safety?
6.Given the quantities of products A, B, and C as 200, 300, and 400 units respectively, what is the total sales volume?
7.Within the hierarchy of costing and budgeting, which of the following represents a product sustaining cost?
8.Given that the actual cost of a material is $700 while the planned cost was $900, what type of variance is observed?
9.Given that the actual outcome is $65,000 and the static budget variance amounts to $35,000, what is the value of the static budget?
10.What term is used to describe the anticipated performance of a company?
11.Given that the actual labor cost is $1200 while the planned labor cost is $1000, what is the nature of the labor price variance?
12.In management control, what serves as the benchmark for evaluating actual performance?
13.Given that the actual cost incurred is $265,000 and the flexible budget cost is $156,000, what is the flexible budget variance?
14.What is another term for an unfavorable variance in a static budget?
15.Given a budgeted input cost of $80 and a price variance of $40, what is the actual input price?
16.Given a static budget variance of $46,000 and a static budget value of $15,000, what is the actual amount recorded?
17.What is the term used for the price variance related to direct manufacturing labor?
18.Given an actual operating income of $250,000 and a static budget amount of $150,000, what is the static budget variance?
19.Given an actual outcome of $50,000 and a static budget variance of $25,000, what is the value of the static budget?
20.What is the term for the difference between the actual budget figures and those in the static budget?