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Question;51.;During the sales life cycle, which is an example of what happens during the;introduction phase?;A.;Sales and price decline, as do the number of competitors.;B.;Sales continue to increase but at a decreasing rate. The number of competitors;and product variety decline. C. Sales increase rapidly along with an increase;in product variety.;D.;Sales rise slowly as customers become aware of the new product or service.;Product variety is limited. 52. During the sales life cycle, which is an;example of what happens during the growth phase?;A.;Sales and price decline, as do the number of competitors.;B.;Sales continue to increase but at a decreasing rate. The number of competitors;and product variety decline. C. Sales increase rapidly along with an increase;in product variety.;D.;Sales rise slowly as customers become aware of the new product or service.;Product variety is limited. 53. During the sales life cycle, which is an;example of what happens during the maturity phase?;A.;Sales and price decline, as do the;number of competitors.;B.;Sales continue to;increase but at a decreasing rate. The number of competitors and product;variety decline.;C.;Sales increase rapidly;along with an increase in product variety.;D.;Sales rise slowly as;customers become aware of the new product or service. Product variety is;limited.;54. When;comparing Activity-based costing (ABC) and the Theory of Constraints (TOC), the;approach each method takes toward profitability analysis is;A.;TOC takes a short-term approach and ABC;takes a long-term approach.;B.;TOC takes a long-term;approach and ABC takes a short-term approach.;C.;Both TOC and ABC take a;short-term approach.;D.;Both TOC and ABC take a;long-term approach.;55. Place;the five steps in implementing a target costing approach in the proper order: 1;- Determine desired profit;2 - Use kaizen;costing and operational control to reduce costs 3 - Determine the market price;4 - Use value;engineering to identify ways to reduce product costs 5 - Calculate the target;cost at market price less desired profit;A.;3,2,1,4,5.;B.;2,5,4,1,3.;C.;4,5,1,3,2.;D.;3,1,5,4,2.;E.;5,3,2,1,4.;56. Quality;Chairs Inc. (QC) manufactures chairs for industrial use. Laura Winters, the;Vice President for Marketing at QC, concluded from market analysis that sales;were dwindling for QC's standard three-foot chair due to aggressive pricing by;competitors. QC's chairs sold for $550 whereas the competition's comparable;chair was selling for $495. Winters determined that a price drop to $495 would;be necessary to regain market share and annual sales of 10,000 chairs.;Cost data based on sales;of 10,000 chairs;The current cost;per unit is;A.;$250.;B.;$300.;C.;$400.;D.;$450.;E.;$475.;57. Quality;Chairs Inc. (QC) manufactures chairs for industrial use. Laura Winters, the;Vice President for Marketing at QC, concluded from market analysis that sales;were dwindling for QC's standard three-foot chair due to aggressive pricing by;competitors. QC's chairs sold for $550 whereas the competition's comparable;chair was selling for $495. Winters determined that a price drop to $495 would;be necessary to regain market share and annual sales of 10,000 chairs.;Cost data based on sales;of 10,000 chairs;The current;profit per unit is;A.;$250.;B.;$300.;C.;$400.;D.;$450.;E.;$475.;58. Quality;Chairs Inc. (QC) manufactures chairs for industrial use. Laura Winters, the;Vice President for Marketing at QC, concluded from market analysis that sales;were dwindling for QC's standard three-foot chair due to aggressive pricing by;competitors. QC's chairs sold for $550 whereas the competition's comparable;chair was selling for $495. Winters determined that a price drop to $495 would;be necessary to regain market share and annual sales of 10,000 chairs.;Cost data based on sales;of 10,000 chairs;If the profit;per unit is maintained, the target cost per unit is;A.;$105.;B.;$195.;C.;$205.;D.;$300.;E.;$250.;59.;In order to reduce costs so as to reach the desired target cost, Quality Chairs;should also focus on reducing the cost of;A.;Direct materials.;B.;Direct labor.;C.;Machine setups.;D.;Mechanical assembly.;60.;Which of the following;is a common form of value engineering in which the design team prepares several;possible designs of the product, each having similar features with different;levels of performance and different costs?;A.;Cost analysis.;B.;Variable design;engineering.;C.;Cost-based value;engineering.;D.;Functional analysis.;E.;Design analysis.;61.;Which of the following;is a common type of value engineering in which the performance and cost of each;major function or feature of the product is examined?;A.;Cost analysis.;B.;Variable design;engineering.;C.;Cost-based value engineering.;D.;Functional analysis.;E.;Design analysis.;62. A;type of strategic pricing based on analytical methods is used to;A.;Optimally determine the best price.;B.;Utilize knowledge of;consumer behavior in setting price.;C.;More accurately;determine life cycle costs as a basis for setting price.;D.;Employ improved design;methods that reduce cost and improve price.;63.;Johnson Marine has the;following costs and expected sales for the coming year. Johnson is considering;a number of different methods to determine the price of its product.;If Johnson;determines price using a 40% markup of full manufacturing cost, the price is;A.;$262.50;B.;$306.00;C.;$375.00;D.;$364.29;E.;$330.00;64.;Johnson Marine has the;following costs and expected sales for the coming year. Johnson is considering;a number of different methods to determine the price of its product.;If Johnson;determines price so as to receive a desired return on assets of 15%, the price;is;A.;$262.50;B.;$306.00;C.;$375.00;D.;$364.29;E.;$330.00;65.;Johnson Marine has the;following costs and expected sales for the coming year. Johnson is considering;a number of different methods to determine the price of its product.;If Johnson;determines price using a desired gross margin percentage of 50%, the price is;A.;$262.50;B.;$306.00;C.;$375.00;D.;$364.29;E.;$330.00

 

Paper#45090 | Written in 18-Jul-2015

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