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Accounting Expert Answers & Study Resources : Page 176

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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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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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68) Revved Up Toys manufactures a computer chip used in the production of remote control cars. When 6,000 cars are produced, the costs per part are: Direct materials $2.50 Direct labor 1.50 Variable manufacturing overhead 1.00 Fixed manufacturing overhead 1.75 Total $6.75 Sam's Associates has offered to sell Revved Up Toys 6,000 parts for $5.75 each. If Sarah.

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  • 68) Revved Up Toys manufactures a computer chip used in
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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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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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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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63) Indicate whether each item below is a characteristic of a price-taker or a price-setter. Use PT for price-taker and PS for price-setter. a)Cost-plus pricing b)Product lacks uniqueness c)Less competition d)Target pricing e)Heavy competition 64) Mountaintop golf course is planning for the coming season. Investors would like to earn a 12% return on the company's $50.

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  • 63) Indicate whether each item below a characteristic of a
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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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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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48) Comfort Cloud manufactures seats for airplanes. The company has the capacity to produce 100,000 seats per year, but is currently producing and selling 75,000 seats per year. The following information relates to current production: Sale price per unit $400 Variable costs per unit:      Manufacturing $220      Marketing and administrative $50 Total fixed costs:     Manufacturing $750,000     Marketing and.

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  • 48) Comfort Cloud manufactures seats for airplanes. The company has
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58) The following information relates to current production of outdoor chaise lounges Backyard Posh: Variable manufacturing costs per unit $ 102.00 Total fixed manufacturing costs $ 525,000 Variable marketing and administrative costs per unit $ 30.00 Total fixed marketing and administrative costs $ 250,000 The regular selling price per chaise lounge is $300.00. The company is analyzing the opportunity.

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  • 58) The following information relates to current production of outdoor
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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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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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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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