Decadent Desserts Industries incurs the following costs duri…

Decadent Desserts Industries incurs the following costs during the current year: Depreciation of machinery $7,000 Direct labor 16,000 Direct materials 8,500 Executive salaries 10,000 Insurance 2,000 Rent on building 12,000 Sales commissions 10,000 Vehicle lease cost 5,000 Sales for the year were $100,000 and Decadent Desserts Industries determined that only the direct production costs (prime costs) and sales commissions are to be classified as variable costs; all other costs are classified as fixed costs. Decadent Desserts Industries sold 1,000 units.DO NOT round any numbers.  (a) Calculate the total contribution margin. $[CM] (b) Calculate the contribution margin per unit. $[CMun] (c) Calculate the contribution margin ratio. [ratio]

REMINDER:  For review purposes, make quick notes of terms an…

REMINDER:  For review purposes, make quick notes of terms and facts, using pen and paper only. You do not have time to write full questions and answers. If you attempt to take pictures of the screen and/or do screen captures, it will cause you to have no grade for the quiz and a grade reduction on Test 4. REMINDER 2:  This, along with notes you make from reading and from the PowerPoint is your only review for Test 4. This quiz and review is designed to help you have review materials from these chapters. Reminder 3:  The following provide some answers following some questions, but not all. Answer ‘True’ and move forward.