• Revenue per unit = $100
• Variable cost per unit = $45
• Total fixed costs $2,500

100 units were sold. Calculate net income.

_____________________ is reported on the balance sheet and is the cost of products that have been started into production but have not yet been completed.

Which of the following is not a product cost?

a. Cash payments made to production workers for their wages

b. Cash payment made to the production supervisor for his/her salary

c. Cash payments made to the maintenance crew that cleans the manufacturing facility for their wages

d. All of these choices are product costs

From the list below, select those that describe managerial accounting reports. Select all that apply.

- Reports are for the sole use of internal users

- Reports can be very detailed

- Reports are verified by audits done by independent CPAs

- Reports are issued as frequently as needed

- Reports may include non-financial information

- None of these choices are product costs

• Actual sales of $6,000,000
• Break-even sales of $4,800,000
• Total fixed costs of $2,040,000
• Variable costs equal to 60% of sales

What is the margin of safety ratio?

Gibby Enterprise's variable cost per unit is $25. Its selling price per unit is $65. By how much will net income increase if Gibby sells one unit more than its break-even point? Do not include dollars signs or commas.