Question: 1. The CVP income statement a. is distributed internally and externally. b. classifies costs by functions. c. discloses contribution margin in the body of the

1. The CVP income statement a. is distributed internally and externally. b. classifies costs by functions. c. discloses contribution margin in the body of the statement. d. will reflect a different net income than the traditional income statement.

The break-even point is where

a. total sales equal total variable costs.

b. contribution margin equals total fixed costs.

c. total variable costs equal total fixed costs.

d. total sales equal total fixed costs.

A company has contribution margin per unit of $90 and a contribution margin ratio of 40%. What is the unit selling price?

a. $150

b. $225

c. $36

d. Cannot be determined.

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