Answer all 5 please as they are parts under 1 question section. Thank you!!

If total variable cost is 60% of total sales, then the contribution margin ratio is 40% of sales.

a. True

b. False

The high-low method of deriving an estimated cost line uses all the data points available.

a. True

b. False

The high-low method is used to derive the variable cost per unit and total fixed costs using only the highest and lowest volume levels.

a. True

b. False

Using the high-low method to determine variable cost per unit, divide the difference between the highest and lowest costs by the difference between the highest and lowest number of units.

a. True

b. False

Which of the following is probably a fixed cost?

1. Sales commissions expense
2. Wages paid for direct labor
3. Factory supervisor's salary
4. Delivery expenses