Question 11 1 pts Rockland sold merchandise to Sally Mae at its factory store. S

Question

Question 11 1 pts Rockland sold merchandise to Sally Mae at its factory store. Sally paid for the $3OO purchase in cash. The goods cost Rockland $160. Which of the following statements is FALSE? Gross Profit is equal to $300o COGS is equal to $160 Sales Revenues (gross) is equal to $300 Gross Profit is equal to $140 Question 12 1 pts 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? COGS is decreased by $60 Sales Returns is increased by $10O Sales Revenue (gross) is decreased by $10o Gross Profit is decreased by $40 Question 13 1 pts All of the following are PRODUCT costs. Select the correct statement regarding the cost behavior of the below costs Units Sold Total Phone Cost Materials Cost per unit $35 $35 $35 $35 Managers annual salary $3,0OO $3,00O $3,0OO $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 25 50 75 100 $150 $200 $250 $300 $400 $650 $900 $1,150 Total Utility Cost is a Mixed Cost Materials Cost is a mixed cost O Total Phone Cost and Manager Annual Salaries are Fixed Costs Depreciation cost is a variable cost

Explanation / Answer

11) Rockland Gross profit is equal to $300 is false 12) orginal gross profit = 300-160 140 new gross profit      = 200-100 100 Sales revenue (gross) is decreased by $100 13) total utility is a mixed cost

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