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Target-Profit & Break-Even Analysis

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Employees involved in the production of a product are paid an hourly wage but their number of hours worked can change based on the demand for the product.

How is their salary cost classified?

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1. What is the point where total costs are equal to total revenue?

2. Which of the following is an example of a fixed cost?

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About This Quiz & Worksheet

You'll be asked five multiple-choice questions about the different types of costs. To pass the quiz, you'll need to solve a break-even analysis practice problem and understand how costs are classified.

Quiz & Worksheet Goals

You'll be asked to:

  • Know what employee salary costs can be classified as
  • Identify the point where total cost equals total revenue
  • Recognize examples of fixed costs
  • Solve a practice problem
  • Understand the difference between an item's selling price and its variable cost

Skills Practiced

You'll exercise the following skills:

  • Distinguishing differences - compare and contrast topics from the lesson, such as the selling price and variable cost of an item
  • Information recall - access knowledge you've gained regarding the point where total cost is equal to total revenue
  • Knowledge application - use what you know about fixed cost to choose an example of it

Additional Learning

Review the related lesson entitled Target-Profit & Break-Even Analysis to learn more about this topic. The lesson helps students:

  • Learn the difference between the two types of costs
  • Understand what a contribution margin is
  • Identify the margin of safety
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