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GB519: Measurement and Decision Making quiz

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Question.Which of the following is not a step to maximize the value of;nonfinancial measures, as suggested by Ittner and Larcker? (Points: 1);Benchmark with similar firms.;Base actions on findings.;Develop a causal model.;Assess outcomes.;2.Target cost can be defined as: (Points: 1);Manufacturing cost - sales price.;Competitive price - desired profit.;Desired profit - market price.;Target price - manufacturing cost.;3.A type of strategic pricing based on analytical methods is;used to: (Points: 1);Optimally determine the best price.;Utilize knowledge of the sales life cycle in setting price.;More accurately determine life cycle costs as a basis for setting price.;Employ improved design methods that reduce cost and improve price.;4.Which of the following would not likely be useful for;addressing the variance-investigation decision under uncertainty? (Points;1);The use of payoff tables.;Linear optimization analysis.;Calculating the indifference probability.;Knowing, or having a good estimate of, the probability of a nonrandom;variance.;The value of perfect information.;5.Caldwell Company desires to enter a market with a new product.;As part of this process the following tasks will be performed;1- Determine a desired profit margin.;2- Use Kaizen costing.;3- Design and engineer the product.;4- Determine the product's cost.;5- Determine the suggested selling price.;Which task would Caldwell Company perform first if it plans to use target;costing? (Points: 1);Determine a desired profit margin.;Use Kaizen costing.;Design and engineer the product.;Determine the product's cost.;Determine the suggested selling price.;6.The balanced scorecard is widely used in performance;evaluation and management control. In which regions around the world is it;most and least, respectively, commonly used: (Points: 1);Europe, Asia;U.S and Canada, Africa;U.S. and Canada, South and Central America;South and Central America, Europe;7.The five tasks that follow take place with the concept known;as target costing;1- Use value engineering to identify ways to reduce product cost.;2- Determine the market price.;3- Determine the desired profit.;4- Use kaizen costing and operational control to reduce costs.;5- Calculate the target cost at market price less desired profit.;Which of the following choices depicts the correct sequence of these tasks?;(Points: 1);1, 2, 3, 4, 5;2, 3, 5, 1, 4;3, 2, 5, 4, 1;3, 2, 5, 1, 4;5, 3, 2, 4, 1;8.Which of the following statements is correct? (Points: 1);Random variances are typically investigated because they can repeat.;Systematic variances are considered uncontrollable.;Most standard cost variances call for investigation and corrective action.;Random variances are typically not investigated.;Most variances from ideal standards will be favorable.;9.Since it is based on cash flows, the discounted cash flow;(DCF) method of valuation has the added advantage that it is not subject to;the bias of different: (Points: 1);Discount rates.;Internal rates of return.;Monetary systems.;Accounting policies for determining total assets and net income.;10.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 (Points;1);3, 2, 1, 4, 5.;2, 5, 4, 1, 3.;4, 5, 1, 3, 2.;3, 1, 5, 4, 2.;11.A CFO whose compensation plan may have had the effect of;creating an incentive for unethical actions includes: (Points: 1);Kenneth Lay;Scott Sullivan;Bernie Madoff;Dennis Kozlowski;12.The price-earnings ratio for firms in the Standard;Poor's 500 Index has averaged _____ over the last 50 years. (Points: 1);11.;16.;17.;23.;30.;13.Precilla Company uses a standard costing system that allows 2;pounds of direct materials for one finished unit. During July, the company;purchased 40,000 pounds of direct materials for $210,000 and manufactured;12,000 finished units. The standard direct materials cost allowed for the;units manufactured is $120,000. The performance report shows that Pricilla;has an unfavorable direct materials usage variance of $5,000. Also, the;company records any price variance for materials at time of purchase.;The number of pounds of direct materials used to produce July's output was;(Points: 1);12,000 pounds.;20,000 pounds.;24,000 pounds.;25,000 pounds.;40,000 pounds.;14.Bryan Inc. produces a specialty top-quality juice machine. The;product, the JM50, requires four processes to be completed. Specifically;these processes are exterior construction, pulp filter insertion, painting;and packaging. Each process is performed at separate workstations with;different completion rates;Exterior construction can manufacture 100,000 juicer exteriors per day.;Pulp filter insertion can install 25,000 filters every 6 hours.;Painting can decorate 3,000 juicers every half hour.;Packaging can package 5,000 juicers per hour.;The plant operates 24/7, 24 hours a day every day of the week.;What is the least amount of monthly capacity you would have to add to the;bottleneck(s) to shift the bottleneck to a different process? (Points: 1);2,000,001 juicers per month.;600,001 juicers per month.;1,320,001 juicers per month.;50,001 juicers per month;15.Bryan Inc. produces a specialty top-quality juice machine. The;product, the JM50, requires four processes to be completed. Specifically;these processes are exterior construction, pulp filter insertion, painting;and packaging. Each process is performed at separate workstations with;different completion rates;Exterior construction can manufacture 100,000 juicer exteriors per day.;Pulp filter insertion can install 25,000 filters every 6 hours.;Painting can decorate 3,000 juicers every half hour.;Packaging can package 5,000 juicers per hour.;The plant operates 24/7, 24 hours a day every day of the week.;How many JM50 machines can Bryan Inc. manufacture per month (assume an;average 30-day month)? (Points: 1);4,320,000 juicers.;3,600,000 juicers.;3,000,000 juicers.;3,200,000 juicers

 

Paper#51421 | Written in 18-Jul-2015

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