1 tricia corporation is a single product firm that sells its product for 2 50 per 402976

1. Tricia Corporation is a single product firm that sells its product for $2.50 per unit. Variable expense per unit at Tricia is $1.00. Tricia expects fixed expenses to total $18,000 for next year. How many units would Tricia have to sell next year in order to break even? a)7,200 b) 12,000 c) 30,000 d) 45,000 2. Terres Corporation produces and sells a single product. Data concerning that product appear below: selling price per unit: $100 variable expense per unit: $33 fixed expense per month: $293,460 The break even in monthly dollar sales is closest to: a)$889,273 b) $438,000 c) $293,460 d) $540,244 3. Majid Corporation sells a product for $240 per unit. The product’s current sales are 41,300 units and its break even sales are 36,757 units. What is the margin of safety in dollars? a)$8,821,680 b) $6,608,000 c) $9,912,000 d) $1,090,320 4. The April contribution format income statement of Iannacone Corporation appears below: sales:$60,900 variable expenses: $42,000 contribution margin: $18,900 fixed expenses: $13,500 net operating income:$5400 If the company’s sales increase by 1%, its net operating income should increase by about: a) 9% b) 1% c) 4% d) 11% 5. Hurlex Company produces a single product. Last year, Hurlex manufactured 15,000 units and sold 12,000 units. Production costs for the year were as follows: direct materials: $150,000 direct labor:$180,000 variable manufacturing overhead:$135,000 fixed manufactuing overhead:$210,000 Sales totaled $840,000 for the year, variable selling expenses totaled $60,000, and fixed selling and administrative expenses totaled $180,000. There were no units in the beginning inventory. Assume that direct labor is a variable cost. Under variable costing, the company’s net operating income for the year would be: a)$42,000 higher than under absorption costing b) $30,000 higher than under absorption costing c) $30,000 lower than under absorption costing d) $42,000 lower than under absorption costing 6. Younie Corporation has two divisions: the South Division and the West Division. The corporation’s net operating income is $26,900. The South Division’s divisional segment margin is $42,800 and the West Division’s divisional segment margin is $29,900. What is the amount of the common fixed expense not traceable to the individual divisions? a)$56,800 b) $69,700 c) $72,700 d) $45,800 7. Norenberg Corporation manufactures a variety of products. The following data pertain to the company’s operations over the last two years: variable costing net income, last year: $88,600 variable costing net income, this year: $96,100 increase in ending income, last year: $600 units decrease in ending income, this year: $2300 units fixed manufactingoverhead cost per unit:$7 What was the absorption costing net operating income last year? a) $92,800 b) $88,600 c) $84,400 d) $76,700 8. Borich Corporation produces and sells a single product. Data concerning that product appear below: selling price per unit: $150.00 variable expense per unit: $73.50 fixed expense per month: $308,295 The break even in monthly unit sales is closest to: a) 2,055 b) 4,030 c) 4,194 d) 3,426