
Lesson1:Costing and Pricing
Quiz
•
Mathematics
•
University
•
Practice Problem
•
Hard
MARK SOTTO
Used 3+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What are costs that do not change with production volume called?
Variable Costs
Total Costs
Fixed Costs
Marginal Costs
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of costs change with the level of production?
Fixed Costs
Variable Costs
Total Costs
Contribution Margin
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the sum of fixed and variable costs?
Marginal Cost
Break-even Point
Total Cost
Gross Profit
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
At what production level does total revenue equal total cost?
Marginal Cost
Contribution Margin
Break-even Point
Gross Profit
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the difference between selling price and variable costs per unit?
Gross Profit
Marginal Cost
Contribution Margin
Economies of Scale
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the percentage added to the cost price to determine the selling price?
Profit
Markup
Marginal Cost
Contribution Margin
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What do you get when revenue minus the cost of goods sold?
Break-even Point
Gross Profit
Contribution Margin
Economies of Scale
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