ACCT 201 Midterm: Exam 1 Review - Solutions.pdf
30 Oct 2014
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Note: the review packet is intended to provide additional practice problems and solutions from the chapters covered on exam 1. It is not intended to cover every possible concept and term. Of this amount, variable costs are per unit. What are the total costs when 8,000 units are produced: ,000, ,000, ,000, ,000, ,000, as a company begins to operate outside the relevant range, the accuracy of cost estimates for fixed and variable costs: Using the high-low method, the unit variable cost component is: ,000, . 00, sh. 023, ,908, none of the above. Unit variable cost = slope = rise = change in cost. Unit variable cost = ,000 - ,000 = . Exam 1 review packet | page 3: newt, inc. produced and sold 50,000 units of a single product last year. Data concerning the previous year"s income statement is as follows: Before-tax profit = after-tax profit (1-tax rate) = ,000 60% = ,000.
