Burruss Company Developed a Static Budget at the Beginning of the Company's

question 127

Multiple Choice

Burruss Company developed a static budget at the beginning of the company's accounting period based on an expected volume of 8,000 units: If actual production totals 10,000 units which is within the relevant range, the flexible budget would show fixed costs of:
$$\begin{array} { | l | r | } \hline & \text { Per unit } \\\hline \text { Revenue } & \$ 4.00 \\\hline \text { Variable costs } & 1.50 \\\hline \text { Contribution margin } & \$ 2.50 \\\hline \text { Fixed costs } & 2.00 \\\hline \text { Net income } & \underline { \$ 0.50 } \\\hline & \\\hline\end{array}$$

• A)$16,000.
• B)$2 per unit.
• C)$20,000.
• D)None of these answers is correct.

Interpret the legal responsibilities of parties in transactions involving conditional sales and personal property security.

Understand the implications of secured transactions for bona fide purchasers for value.

Explore the rationale and effects of lien legislation on the construction industry and property rights.

Understand the concepts and legal implications of chattel mortgages and conditional sales agreements.

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