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Q1) Caleb's Tights, the break-even point is 2,000 units.  If fixed costs total $300,000 and variable costs are $30 per unit, compute selling price per unit?

 

A) $210

 

B) $180

 

C) $5

 

D) $150

 

 Q2) Which of the given is not difference between financial accounting and managerial accounting?

 

A) Financial accounting should follow GAAP whereas managerial accounting is not needed to follow GAAP.

 

B) Managerial accounting is mainly concerned with giving information for external users whereas financial accounting is concerned with internal users.

 

C) Financial accounting is mainly concerned with reporting the past, whereas managerial accounting is more concerned with future.

 

D) Managerial accounting uses more nonmonetary information than is used in financial accounting.

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