Document2 sout References Mailings Review View Aa Bbcode ARBO ABCD ABECEDE AaBb Neme No Spacing Heading Heading TILL Sales revenue is $7,000, total variable costs are $5,600, and total fixed costs are $1,000. How much sales revenue does a firm need to achieve target profit of $2,500? 1. $5,000 2. $17,500 3. Not enough information 4. $12,500 2. H The Margin of Safety Percentage is computed as 1. Margin of Safety % = Sales revenue + Breakeven sales revenue 2. Margin of Safety % = Current Sales revenue dollars) + Breakeven sales revenue 3. Margin of Safety % = Current Sales revenue (dollars) - Breakeven sales revenue 4. Margin of Safety % = Margin of Safety + Sales revenue Which of the following is most likely to be a variable cost? 5. Factory supervisor's salary 6. Depreciation on production equipment 7. Cost of merchandise 8. Rent for CEO's office Choose the answer below that best describes the process of the high-low method. 9. The high-low method uses the highest and lowest activity levels and their related costs to estimate variable costs per unit and fixed costs. 10. The high-low method divides the difference in activity level (production) by the difference in total cost to estimate variable costs per unit and fixed costs. 11. The high-low method uses the average of the highest and lowest total costs and activity levels to estimate variable costs per unit and fixed costs 12. The high-low method uses the average of the two middle costs and the related activity levels to estimate variable costs per unit and fixed costs Which of the following statements is false? 1. Product costs are all costs involved in acquiring or making a product 2. Job order costing is to keep a separate cost record for each individual product 3. The lower the margin of safety, the higher the operating risk. 4. Contribution margin statement separates product costs from period costs ted States I Focus MacBook Air