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Easton Bakery makes bread. Results for the months of January and February were as follows:...

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Accounting

Easton Bakery makes bread. Results for the months of January and February were as follows:

JanuaryFebruary Number of loaves of bread produced and sold5 million 4 million $ Millions $ Millions Sales revenue$2.50$2.00Flour & other ingredients$1.25$1.00Direct labour0.500.40Production overhead0.500.45General & administrative overhead0.100.10Total cost$2.35$1.95Operating profit$0.15$0.05

Use this information to answer the questions that follow.

Question 19 (2 points)

The contribution margin per million loaves of bread is __________.

Question 19 options:

$0.10 million $0.50 million $0.40 million none of the other options $0.20 million

Question 20 (2 points)

The total fixed cost is __________.

Question 20 options:

$0.50 none of the other options $0.10 $0.25 $0.35

Question 21 (2 points)

The break-even point in millions of loaves of bread is __________.

Question 21 options:

3.5 none of the other options 1 4 5

Question 22 (2 points)

If Easton Bakery sells 10 million loaves of bread, its expected operating profit would be __________.

Question 22 options:

$0.60 million $0.50 million $0.30 million none of the other options $0.65 million

Question 23 (2 points)

To make a profit of $0.25 million, Easton Bakery would have to sell how many loaves?

Question 23 options:

7.0 million none of the other options 5.0 million 5.5 million 6.0 million
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