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Accounting Expert Answers & Study Resources : Page 172

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74) Companies operating in highly competitive industries are generally price-setters. 75) When setting prices, a company need not consider whether it is a price-taker or a price-setter for each product that it sells. 76) A price-setter company emphasizes a cost-plus approach to pricing. 77) For a product, revenue at market price plus desired.

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  • 74) Companies operating in highly competitive industries generally price-setters. 75) When
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107) Frisbee Enterprises produces frisbees. Frisbee Enterprises has the following sales projections for the upcoming year: First quarter budgeted frisbee sales in units 20,000 Second quarter budgeted frisbee sales in units 35,000 Third quarter budgeted frisbee sales in units 22,000 Fourth quarter budgeted frisbee sales in units 30,000 Inventory at the beginning of the year was 6,000 frisbees. Frisbee.

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  • 107) Frisbee Enterprises produces frisbees. Frisbee Enterprises has the following
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11) Decentralization allows top management to concentrate on long-term strategic planning. 12) Decentralization allows top management to hire workers with expert knowledge for each business unit. 13) Decentralization may duplicate a company's costs since each business unit may, for example, have its own purchasing department. 14) Goal incongruence frequently exists in decentralized organizations. 15).

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  • 11) Decentralization allows top management to concentrate long-term strategic planning. 12)
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178) Brigg's Breakfast Appliances manufactures two products: Waffle Makers and Coffee Makers. The following data are available: Waffle Makers Coffee Makers Sales price $120 $215 Variable cost $45 $150   The company can manufacture two waffle makers per machine hour and three coffee makers per machine hour. The company's production capacity is 1,200 machine hours per month.   What is the contribution.

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  • 178) Brigg's Breakfast Appliances manufactures two products: Waffle Makers and
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239) Paula has the following information to evaluate–her current salary of $55,000 versus total revenues of $120,000 and expenses of $75,000 from starting a new business. How much is the opportunity cost associated with starting the new business? A) $55,000 B) $120,000 C) $45,000 D) $75,000 240) Zach has the following information to evaluate–his current.

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  • 239) Paula has the following information to evaluate–her current salary
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169) Define operating budgets and financial budgets. List the specific budgets which are operating budgets. List the specific budgets which are financial budgets. 170) Beyerly Corporation anticipates the following sales revenue over a five month period: Byerly Corporation's sales are 40% cash and 60% credit. The Beyerly Corporation's collection history indicates that.

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  • 169) Define operating budgets and financial budgets. List the specific
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204) In deciding whether to outsource, managers must consider A) relevant fixed and variable components. B) sunk costs. C) only variable costs. D) none of the above. 205) Outsourcing decisions are sometimes referred to as A) make-or-buy decisions. B) make decisions. C) buy decisions. D) none of the above. 206) All of the following are outsourcing considerations, except A) Are.

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  • 204) In deciding whether to outsource, managers must consider A) relevant
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156) Totally Technology manufactures Cameras and Video Recorders. The company's product line income statement follows: Camera Video Recorder Total Sales revenue $300,000 $100,000 $400,000 Cost of goods sold    Variable $75,000 $49,000 $124,000    Fixed $82,000 $28,000 $110,000 Total cost of goods sold $157,000 $77,000 $234,000 Gross profit $143,000 $23,000 $166,000 Marketing and administrative expenses    Variable $25,000 $28,000 $53,000    Fixed $32,000 $19,000 $51,000 Total marketing and administrative expenses $57,000 $47,000 $104,000 Operating income (loss) $86,000 $(24,000) $62,000 Management is considering discontinuing the.

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  • 156) Totally Technology manufactures Cameras and Video Recorders. The company's
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131) Westfall Watches has two product lines: Luxury watches and Sporty watches. Income statement data for the most recent year follow: Total Luxury Sporty Sales revenue $490,000 $360,000 $130,000 Variable expenses 355,000 235,000 120,000 Contribution margin 135,000 125,000 10,000 Fixed expenses 76,000 38,000 38,000 Operating income (loss) $59,000 $87,000 $(28,000) If $20,000 of fixed costs will be eliminated by discontinuing the Sporty line, how will operating income be affected? A) Decrease $30,000 B) Increase $10,000 C) Increase.

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  • 131) Westfall Watches has two product lines: Luxury watches and
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94) Which of the following pairs are characteristics of price-takers? A) Less competition and target pricing B) Cost-plus pricing and less competition C) Target costing and heavy competition D) Cost-plus pricing and lack of product uniqueness 95) Which of the following pairs are characteristics of price-setters? A) Less competition and target costing B) Cost-plus pricing and less.

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  • 94) Which of the following pairs characteristics of price-takers? A) Less
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163) Goliath Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500 August $39,600 September $45,800 October $49,400 All purchases are paid for as follows: 30% in the month of purchase, 45% in the following month, and 25% two months after purchase. What are the total cash disbursements in October for the purchase of merchandise? A) $45,330 B) $39,905 C) $14,820 D) $35,430 164) Lough Company.

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  • 163) Goliath Company prepared the following purchases budget: Month Budgeted Purchases
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1) There are two types of responsibility centers. 2) Responsibility accounting performance reports compare budgets with actual results for each responsibility center. 3) Goal congruence is a system for evaluating the performance of each responsibility center and its manager. 4) A profit center is a responsibility center in which a manager is accountable.

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  • 1) There two types of responsibility centers. 2) Responsibility accounting performance
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81) Fosnight Enterprises prepared the following sales budget: Month Budgeted Sales March $6,000 April $13,000 May $12,000 June $14,000 The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired ending inventory on.

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  • 81) Fosnight Enterprises prepared the following sales budget: Month Budgeted Sales
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141) The income statement for Lovely Locks is divided by its two product lines, Curling Irons and Straighteners, as follows:   Curling Irons Straighteners Total Sales revenue $600,000 $260,000 $860,000 Variable expenses $450,000 $210,000 $660,000 Contribution margin $150,000 $50,000 $200,000 Fixed expenses $75,000 $75,000 $150,000 Operating income (loss) $75,000 $(25,000) $50,000 If fixed costs remain unchanged and Lovely Locks discontinues the Straightener line, how will operating income change? A) Will decrease by $150,000 B) Will increase by.

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  • 141) The income statement for Lovely Locks divided by its
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