Acct 6273 Final Exam Acct6273 Final Exam
Business and Management
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ACCT 6273 Final Exam ACCT6273 Final Exam
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100 points, total.
For partial credit, formulas and work, appropriately labeled, must be shown. There is no partial credit for multiple choice or true/false questions.
1. Lincoln Company manufactures and sells small electric heaters for homes and offices. The company’s income statement for the FY2014 is given below:
Total Per unit Sales (30,000 units) $1,800,000 $60 Less variable expenses 1,440,000 48 Contribution margin 360,000 $12 Less fixed expenses 264,000 Net income $ 96,000
a. Compute the company’s break-even point in units. [8 points] * * * * * * * * * * Answer____________________ b. If Lincoln Company increases its price to $100, do you expect the breakeven point in units to be more or less than the number you calculated in question 1a above? Why? Circle (or highlight) one [1 point]: More than question 1a Less than question 1a Explain why, but do not use calculations. [3 points]
* * * * c. Confirm your answer to question 1a above by preparing a...