
CVP Statement and absorption/var costing
Presentation
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Business
•
University
•
Medium
Kristin Roland
Used 6+ times
FREE Resource
0 Slides • 16 Questions
1
Multiple Select
Which of these costs get added together to find the variable product costs? Choose all the answers that are correct.
Direct materials
Variable MOH
Fixed MOH
Variable S & A
2
Multiple Choice
If fixed costs are $10,000 are the Contribution Margin ratio is 40%, what is the breakeven Sales $?
25,000 units
$25,000
16,667 units
$16,667
3
Multiple Choice
Which one of these formulas gives us breakeven sales units?
(Fixed costs + variable costs)/ CM$
Fixed costs/ CM Ratio
(Fixed costs + variable costs) / CM Ratio
Fixed costs / CM$/ unit
4
Multiple Choice
Sales - Variable Costs
Absorption costs
Variable cost analysis
Contribution margin
Fixed costs
5
Multiple Choice
Direct materials is which type of cost?
Fixed and product
Variable and product
Fixed and period
Variable and period
6
Multiple Choice
If more units are produced than sold in a period, which costing method will have a higher net operating income?
Variable costing
Absorption or full costing
7
Multiple Select
Which of the following are period costs (under full costing)?
Supplies for the factory breakroom
Supplies for the sales office
CEO salary
Advertising
8
Multiple Choice
If sales price per unit is $100 and variable costs are $70 per unit, the Contribution Margin percentage is:
$70
$30
70%
30%
9
Multiple Choice
The formula to reconcile the NOI from full costing to variable costing is:
Difference in units sold and produced * FMOH/unit
Difference in units sold and produced * variable costs/ unit
FMOH/ unit
Variable cost/unit
10
Multiple Select
Which of the following costs attach to the product under full costing?
DM
DL
FMOH
Period costs
11
Multiple Select
Which of the following costs attach to the product under variable costing?
DM
DL
VMOH
FMOH
12
Multiple Choice
Which of the following costs get expensed as period costs under variable costing?
DM
DL
VMOH
FMOH
13
Multiple Choice
Which income statement do we generally use with full costing?
CVP Income Stmt
Traditional income statement
G/L Income Statement
Balance Sheet
14
Multiple Choice
If you see a statement that includes: Sales - COGS = Gross Profit, what type of statement are you looking at?
Cash Flow Statement
Traditional Income Statement
CVP Income Statement
Balance Sheet
15
Multiple Choice
If a company has common fixed costs, which will be higher? The breakeven sales amount for the company as a whole or the sum of the breakeven sales amounts for the segments?
The B/E Sales for the company as a whole
The sum of the B/E Sales for each segment.
They are both the same.
I have no idea.
16
Multiple Choice
POHR = ?
Actual overhead for the job/ number of units in the job
Estimated overhead/ number of units in the job
Estimated overhead/ estimated activity level
Estimated activity level * per unit cost
Which of these costs get added together to find the variable product costs? Choose all the answers that are correct.
Direct materials
Variable MOH
Fixed MOH
Variable S & A
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