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3.03 Pricing Strategies Part 2
Test Description: 3.03 Pricing Strategies Part 2
Instructions: Answer all questions to get your test result.
1) The formula for calculating break-even for a product is
A
BP =FC / VCM
B
Cost=Sales-Revenues
C
BP=SVC/VCM
D
Cost=BP/Sales
2) Formula for calculating the variable cost per unit
A
#of units =break even
B
BP=FC/VCM
C
variable cost - break even
D
variable cost/# of unit
3) Formula to find the variable cost margin
A
total sales + fixed cost
B
selling price per unit - variable cost per unit
C
total cost / cost per unit
D
Selling price per unit - the discount price
4) The variable cost for a product is $3.00 and the total fixed costs are $288,000. The company sells the products for $6.00 each. How many products will the company have to sell to break even?
A
96,000
B
4,800
C
32,000
D
48,000
5) Determine a firm's break-even point in units, given the following information: total fixed cost, $4,000; variable cost per unit, $20; and selling price per unit, $100.
A
500 units
B
100 units
C
80 units
D
50 units
6) A soccer camp provides five leaders at $8 per hour for eight hours a day for five days. If fringe benefits are 20% of the wages and supplies total $650, calculate the cost per person if 40 players attend.
A
$48.00
B
$56.25
C
$32.25
D
$64.25
7) A business purchases a line of items for resale that cost $12.32 each. Expenses total $1.65 per item. What is the break-even price per item?
A
$13.97
B
$14.71
C
$14.26
D
$14.92
8) A business decides to produce 6,000 football cushions and sell them for $6.00 each. They cost the company $4.00 each to produce. How many cushions must the company sell to break even?
A
4,000
B
600
C
3,000
D
6,000
9) Given the following information, calculate the break-even point in dollars: Total fixed costs = $20,000; Unit selling price = $100; Unit variable cost = $60.
A
500
B
55000
C
5000
D
50000
10) A product's selling price is $430 per unit, and the number of units required to reach the break-even point is 2,100. Calculate the total dollar sales the business needs to break even.
A
$.21 per unit
B
$903,000
C
$890,000
D
$4.88 per unit
*select an answer for all questions
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