ACC 212 Exam 1

Question 1

(Alternative measure - Base measure) / Base measure = _________

Answer 1

% change

Question 2

Sales (Revenue) - Variable Costs = _________

Answer 2

Contribution Margin

Question 3

Sales (N) - Variable Costs (N) - Fixed Costs = ________

Answer 3

Profit (Net Income)

Question 4

N = ______

Answer 4

Number of Units

Question 5

Contribution Margin + Variable Costs = ________

Answer 5

Sales price

Question 6

(Fixed Costs + Expected Profit) / (Sales - Variable Costs) = __________

Answer 6

units needed to be sold to reach expected profit

Question 7

Contribution Margin / Sales

Answer 7

Contribution Margin Ratio

Question 8

Total Fixed Cost / Total # of Units Produced

Answer 8

Fixed cost per unit

Question 9

Total quantity of output x Variable cost per unit of output

Answer 9

Total Variable Cost

Question 10

Contribution Margin - Fixed Costs

Answer 10

Net Operating Income

Question 11

Contribution Margin / Net Operating Income

Answer 11

Degree of Operating Leverage

Question 12

(Costs at High Amount produced - Costs at low amount produced) / (Highest Amount produced - Lowest Amount produced)

Answer 12

Variable Cost per unit (Using High - Low Method)

Question 13

Total Costs (High or Low) - Total Variable Cost

Answer 13

Total Fixed Cost (Using High - Low Method)