If the Average Selling Price Is

question 34

True/False

If the average selling price is $.60 per unit,the average variable cost is $.36 per unit,and the total fixed costs are $1,500,then sales of 15,000 units will result in operating profits of $3,600.

---

Definitions:

Functional Currency

The currency of the primary economic environment in which the entity operates and reports its financial statements.

Depreciation Expense

The allocated reduction in the carrying value of a tangible fixed asset over its useful life.

Functional Currency

The currency of the primary economic environment in which an entity operates, often used in financial reporting.

Translation Rate

A rate at which one currency is converted into another, used in the preparation of financial statements for companies operating in foreign currencies.