Using the data below, calculate and match the questions to their respective answers. Note: All of the answers can be found using the formula sheet. Fixed Costs = $550,000 Volume = 10,000 tests Total Revenues = $1,000,000 Total Costs = $750,000 RPV $100 A TVC B. $200,000 VCR C. $20 CM $80 D AC E. $75 F. $250,000 Formula Sheet TERMS VCR - Variable Cost Rate (what it costs for one test, one visit, one unit, etc.). TC - Total Costs UCS - Underlying Cost Structure FC- Fixed Costs TVC - Total Variable Costs (all variable costs. Not just one as in the Variable Cost Rate (VCR) AC - Average Cost V-Volume CM - Contribution Margin TCM - Total Contribution Margin RPV - Revenues per visit TR - Total Revenues P-Profit FORMULAS To calculate the following, please use the formulas below. Remember, every problem you come across in this chapter can be found using the formulas below. For example, if you are given Total Variable costs (TVC) but not the Variable Cost Rate (VCR), you can find the Variable Cost Rate (VCR) using the Total Variable Costs (TVC) formula below. Always remember, you will always have all the information you need, so reference this formula sheet for the problems given. Breakeven formula 1: (RPV x V) - (VCR x V) - FC =P or Breakeven formula 2: (CM x V) - FC =P CM=TCM/V TCM ECMxV VCR=TVC/V = Total Variable Costs/Volume RPV =TR/V TC-FC + TVC TC=FC + (VCR x V) FC = Same as Total Fixed Costs. Add all Fixed Costs to arrive at FC (if necessary) TVC = VCRV AC = TC/V