"Corporate Finance":The degree of operating leverage
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Questions 1:
The unit contribution margin for a product is $20. A firm’s fixed costs of production up to 300,000 units is $500,000. The degree of operating leverage (DOL) is most likely the lowest at which of the following production levels (in units):
A 、300,000.
B、 200,000.
C、 100,000.
Questions 2:
A company manages its treasury function to exactly maintain its minimum daily cash balance requirement. The following events occurred for the company on the same day:
Which of the following best describes the activities required of the Treasurer’s office this day? They would need to increase borrowing by:
A、 $175 million.
B、 $100 million.
C 、$150 million.
A is correct.
The DOL is lowest at the 300,000 unit production level. C is incorrect because the DOL is lowest at the 300,000 unit level. B is incorrect because the DOL is lowest at the 300,000 unit level.
C is correct. The change in the net daily cash position (in millions) is calculated as shown below and would require additional borrowing of $150 million:
Stock dividend is not included as it is a non-cash item. B is incorrect. It assumes the $50 million of minimum cash balance is available. A is incorrect. It includes the stock dividend of $25 (150 + 25= 175).
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