"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:

Corporate Finance:The degree of operating leverage

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.

View answer resolution

【Answer to question 1】A

【analysis】

A is correct.

Corporate Finance:The degree of operating leverage

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.

【Answer to question 2】C

【analysis】

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:

Corporate Finance:The degree of operating leverage

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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