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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define marginal cost in your own words.
💡 Hint: Think about costs tied to increasing production.
Question 2
Easy
What is the contribution margin?
💡 Hint: How do we calculate profit generated by each unit?
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is marginal costing?
- A method that includes fixed costs in product costing
- A method that charges only variable costs to products
- None of the above
💡 Hint: Recall how marginal costing differs from traditional costing methods.
Question 2
The contribution margin is defined as ____.
💡 Hint: Think of it as the profit generated from each unit sold.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
ABC manufacturer has fixed costs of ₹120,000, variable costs of ₹250 per unit, and each unit is sold for ₹400. If the company produces and sells 600 units, calculate total contribution, fixed cost coverage, and profit.
💡 Hint: Focus on breaking down each calculation step by step.
Question 2
XYZ tech firm is evaluating a new product line. Explain how marginal costing can aid them in making decisions on pricing and product mix when considering new software development.
💡 Hint: Think in terms of decision-making benefits!
Challenge and get performance evaluation