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DEVRY ACCT434 WEEK 3 QUIZ

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Question 1. 1. (TCO 3) McDevitt Company employs six individuals. They are each paid $30,000 salary per year. How would total costs of personnel be classified?(Points: 3);Variable;Fixed cost within relevant range;Mixed;Variable cost within relevant range;Question 2. 2. (TCO 3) For January, the cost components of a picture frame include $0.35 for the glass, $0.65 for the wooden frame, and $0.80 for assembly. The assembly desk and tools cost $400. A total of 1,000 frames is expected to be produced in the coming year. What cost function best represents these costs?(Points: 3);y = 1.80 + 400X;y = 400 + 1.80X;y = 2.20 + 1,000X;y = 1.00 + 400X;Question 3. 3. (TCO 3) Which cost estimation method uses a formal mathematical method to develop cost functions based on past data?(Points: 3);Quantitative analysis;Industrial engineering;Account analysis;Conference;Question 4. 4. (TCO 3) Penny's TV and Appliance Store is a small company that has hired you to perform some management advisory services. The following information pertains to 20X2 operations: Sales (2,000 televisions) $900,000, Cost of goods sold $400,000, Store manager's salary per year $70,000, Operating costs per year $157,000, Advertising and promotion per year $15,000, Commissions (4% of sales) $36,000. What are the estimated total costs if Penny's expects to sell 3,000 units next year?(Points: 3);$799,000;$1,017,000;$896,000;$799,000;Question 5. 5. (TCO 4) Feedback regarding previous actions may affect(Points: 3);implementation of the decision;future predictions;the decision model;All of the above;Question 6. 6. (TCO 4) For decision making, a listing of the relevant costs(Points: 3);will help the decision maker concentrate on the pertinent data;will only include future costs;will only include costs that differ among alternatives;All of the above;Question 7. 7. (TCO 4) Sunk costs(Points: 3);are relevant to all decisions;have future implications;are future costs;are past costs;Question 8. 8. (TCO 4) Black Tool Company has a production capacity of 1,500 units per month, but production is only 1,250 units. The manufacturing costs are $60 per unit and marketing costs are $16 per unit. Doug Hall offers to purchase 250 units at $76 each for the next five months. Should Black accept the one-time-only special order if only absorption-costing data are available?(Points: 3);Yes, since operating profits will most likely increase;No, since only the employees will benefit.;No, the company will only break even;Yes, good customer relations are essential;Question 9. 9. (TCO 5) The theory of constraints is used for cost analysis when(Points: 3);a manufacturing company produces multiple products and uses multiple manufacturing facilities and/or machines;using a long-term time horizon;operating costs are assumed fixed;All of the above;Question 10. 10. (TCO 5) Keeping the bottleneck operation busy and subordinating all nonbottleneck operations to the bottleneck operation involves(Points: 3);keeping the bottleneck resource busy at least 90% of the time;maximizing the contribution margin of the nonbottleneck operation;having the workers at the nonbottleneck operation or machine improving their productivity.;None of the above

 

Paper#74717 | Written in 18-Jul-2015

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