17. In a Contribution Margin Format Income report, what is the term to describe when total variable costs was deducted from total sales revenue? A. total contribution margin O B. operating income C. segment margin D. income after taxes 18. Which is true when a business is experiencing break-even? O A. total revenue equals total cost B. profit equals zero O C. contribution margin equals total fixed cost D. all of the above are true 19. Which statement(s) below describe profit per unit for units sold above the A. price minus total cost per unit O B. price minus fixed cost per unit C. contribution margin per unit D. none of the above is true 21. What is the effect on break even quantity if the selling price per unit decreases? A. increase B. decrease C. remain the same D. either increase or decrease 22. One of the major benefits of adopting JIT manufacturing system is that inventories A. kept high to avoid stock-outs B. held in various locations for faster delivery to customers O O O O C. insignificant O D. kept high to let the company take advantage of volume discounts 23. Which of the following is part of the cost of keeping inventories? A. setup cost B. ordering cost C. carrying cost D. stock-out cost