To Obtain the Dollar Sales Volume Necessary to Attain a Given

question 106

Multiple Choice

To obtain the dollar sales volume necessary to attain a given target profit, which of the following formulas should be used?

• A) (Fixed expenses + Target net profit)/Total contribution margin
• B) (Fixed expenses + Target net profit)/Contribution margin ratio
• C) Fixed expenses/Contribution margin per unit
• D) Target net profit/Contribution margin ratio

Identify the standard of proof required in civil actions and criminal matters.

Name and describe the function of various federal courts.

Understand the differences between questions of fact and questions of law.

Explain the merits of alternative dispute resolution methods over the judicial process.

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Definitions:

Actual Overhead

The real, incurred overhead costs within a specific accounting period, as opposed to budgeted or standard overhead costs.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead to individual units of production, based on a chosen activity base.

Manufacturing Overhead Cost

Every cost linked to the production process that is not direct materials or direct labor expenses.

Employee Time Ticket

A record that details the amount of time an employee spends on different tasks or projects, used for payroll or costing purposes.