When a firm with fixed costs achieves a percentage increase in revenue due to more sales, the resulting percentage change in profit is typically ___________ the percentage change in revenue:
a) greater than
b) less than
c) equal to
Ans: a) greater than
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Jeremy Corporation estimated manufacturing overhead costs for the year to be $510,000
Jeremy also estimated 9,000 machine hours and 3,000 direct labor hours for the year. It bases the predetermined overhead allocation rate on machine hours. On January 31, Job 25 was completed. It required 4 machine hours and 4 direct labor hours. What is the amount of manufacturing overhead allocated to the completed job? (Round your answer to the nearest dollar.) A) $57 B) $453 C) $228 D) $680
Which of the following is not required in order for someone to be a holder in due course of a
negotiable instrument? A) Take the instrument for value B) Take the instrument directly from the maker or drawee C) Take the instrument in good faith D) Take the instrument without notice of any defenses