Reference no: EM132686314

Problem 1: Contribution margin is:

Select one:

A. Excess of variable costs over sales

B. Excess of direct labor over materials costs

C. Excess of Fixed costs over variable costs

D. Excess of sales over variable cots

Problem 2: Costs where cost per unit remains the same regardless of changes in the activity base are:

Select one:

A. Fixed Costs

B. Variable costs

C. Mixed costs

D. None of the above

Problem 3: At break-even point, revenue = cost.

Select one:

True

False

Problem 4:  Product costs are selling and administrative expenses booked to the income statement in the period incurred.

Select one:

True

False