Acc 350 exam 2 Question and answers
verified to pass 2025
High-low method - correct answer ✔A method to separate mixed costs into
variable and fixed components
How to calculate variable cost per unit - correct answer ✔Change in total
cost divided by change in volume of activity =(Highest cost - lowest cost)
/(highest value -lowest volume)
How to calculate total fixed costs - correct answer ✔total mixed cost - total
variable cost = total mixed cost - ( variable cost per unit x number of units)
How to calculate total mixed cost - correct answer ✔(Variable cost per unit x
number of units) + total fixed costs
Relevant range - correct answer ✔Is the range of volume where total fixed
cost and variable cost per unit remain the same
Highlow method formula - correct answer ✔Variable cost per unit, total fixed
costs, and total mixed costs
Classifications by behavior of contribution margin income statement - correct
answer ✔Variable cost and fixed costs
Contribution margin - correct answer ✔Net sales revenue minus variable
costs = ( selling price per item x number of items sold) - (cost per item X
number of items sold)
, Unit contribution margin - correct answer ✔Net sales revenue per unit -
variable cost per unit
Contribution margin ratio - correct answer ✔Contribution margin / net sales
revenue
Traditional income statement - correct answer ✔Net sales revenue -cost of
goods sold = Gross profit - selling and administrative expenses = operating
income
Contribution margin income statement - correct answer ✔Net sales revenue -
variable costs = contribution margin - fixed costs = operating income
Cost very little profit analysis can be used to estimate... - correct answer
✔The amount of sales needed to achieve a target profit
Operating income - correct answer ✔Net sales revenue - variable cost - fixed
costs= net sales revenue -total costs
Net sales revenue/Target profit - correct answer ✔(Cost per unit X units sold)
- (Variable cost per unit X units sold) - fixed costs
Required sale in units - correct answer ✔(Fixed costs + Target
profit)/contribution margin per unit or (weighted average contribution margin
per unit)
Contribution margin ratio - correct answer ✔Contribution Margin / Sales
Revenue
verified to pass 2025
High-low method - correct answer ✔A method to separate mixed costs into
variable and fixed components
How to calculate variable cost per unit - correct answer ✔Change in total
cost divided by change in volume of activity =(Highest cost - lowest cost)
/(highest value -lowest volume)
How to calculate total fixed costs - correct answer ✔total mixed cost - total
variable cost = total mixed cost - ( variable cost per unit x number of units)
How to calculate total mixed cost - correct answer ✔(Variable cost per unit x
number of units) + total fixed costs
Relevant range - correct answer ✔Is the range of volume where total fixed
cost and variable cost per unit remain the same
Highlow method formula - correct answer ✔Variable cost per unit, total fixed
costs, and total mixed costs
Classifications by behavior of contribution margin income statement - correct
answer ✔Variable cost and fixed costs
Contribution margin - correct answer ✔Net sales revenue minus variable
costs = ( selling price per item x number of items sold) - (cost per item X
number of items sold)
, Unit contribution margin - correct answer ✔Net sales revenue per unit -
variable cost per unit
Contribution margin ratio - correct answer ✔Contribution margin / net sales
revenue
Traditional income statement - correct answer ✔Net sales revenue -cost of
goods sold = Gross profit - selling and administrative expenses = operating
income
Contribution margin income statement - correct answer ✔Net sales revenue -
variable costs = contribution margin - fixed costs = operating income
Cost very little profit analysis can be used to estimate... - correct answer
✔The amount of sales needed to achieve a target profit
Operating income - correct answer ✔Net sales revenue - variable cost - fixed
costs= net sales revenue -total costs
Net sales revenue/Target profit - correct answer ✔(Cost per unit X units sold)
- (Variable cost per unit X units sold) - fixed costs
Required sale in units - correct answer ✔(Fixed costs + Target
profit)/contribution margin per unit or (weighted average contribution margin
per unit)
Contribution margin ratio - correct answer ✔Contribution Margin / Sales
Revenue
