Com x New Tab x s://k-state.instructure.com/courses/51070/quizzes/137120/take a
ID: 2508813 • Letter: C
Question
Com x New Tab x s://k-state.instructure.com/courses/51070/quizzes/137120/take a Sally Mae returned $100 of the shoes purchased in the question above. The returned shoes were in perfect condition and were returned to inventory; they had cost Rockland $60. Which of the following statements is FALSE? O Gross Profit is decreased by $40 O COGS is decreased by $60 O Sales Returns is increased by $100 Sales Revenue (gross) is decreased by $100 D Question 13 1 pts All of the following are PRODUCT costs. Select the correct statement regarding the cost behavior of the below costs. 25 50 75 100 $150 $200 $250 $300 Units Sold Total Phone Cost Materials Cost per unit $35 $35 $35 $35 Managers annual salary $%3,000 $3,000 $3,000 $3,000 Depreciation cost per unit $60 $30 $20 $15 Total Utility Cost Total Cost of Goods Sold $3,125 $6250 $9,375 $12,500 . $400 $650 $900 $1,150 Total Utility Cost is a Mixed Cost Materials Cost is a mixed cost Depreciation cost is a variable cost Total Phone Cost and Manager Annual Salaries are Fixed Costs OExplanation / Answer
12) Sales Returns is increased by $100 Transaction Net Sales Cost Of Goods Sold Gross Profit Sales Returns -100 -60 -40 13) Material cost is Mixed Cost Material cost is Variable cost because its cost per unit is fixed and it varies according to the units produced.