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Accounting Expert Answers & Study Resources : Page 319

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11) Higher-level managers have the best information concerning local conditions. 12) Local managers in decentralized organizations tend to duplicate services that may be less expensive if centralized. 13) The costs of accumulating and processing information frequently decline under decentralization. 14) Managers in decentralized units may waste time negotiating with other units about goods.

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  • 11) Higher-level managers have the best information concerning local conditions. 12)
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50) Hudson Company has two divisions. The following information is available: North Division      South Division Revenue for year$300,000$500,000 Operating income before taxes for year$100,000$90,000 Average invested capital for year$100,000$200,000 Invested capital at end of year$200,000$300,000 Tax rate30%30% After-tax cost of capital for year20%15% Required: 1. Using operating income after taxes as the income measure, compute the following for each division: A) Return.

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  • 50) Hudson Company has two divisions. The following information available: North
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2) ________ costs provide evidence about a manager's performance. ________ costs do not provide evidence about a manager's performance. A) Allocated; unallocated B) Controllable; uncontrollable C) Uncontrollable; controllable D) Allocated; third party 3) Which of the following statements about responsibility centers is FALSE? A) Responsibility centers usually have one goal. B) Management control systems monitor responsibility center.

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  • 2) ________ costs provide evidence about a manager's performance. ________
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  10.1   Questions 1) The concentration of decision-making authority only at the highest levels of the organization is called ________. A) management by objective B) balanced scorecard C) decentralization D) centralization 2) All of the following are disadvantages of decentralization EXCEPT for ________. A) Local managers make decisions that are not in the organization's best interests. B) Managers spend.

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  •   10.1   Questions 1) The concentration of decision-making authority only at the
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10.8   Questions 1) Multinational companies use transfer prices to minimize worldwide income taxes, ________ and ________. A) tariffs; financial restrictions imposed by U.S. government B) tariffs; import duties C) financial restrictions imposed by U.S. government; import duties D) foreign bribes; import duties 2) ABC Division is in the United States with high income tax rates. ABC.

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  • 10.8   Questions 1) Multinational companies use transfer prices to minimize worldwide
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40) The following data was obtained for a company that makes statues: Standard Inputs ExpectedStandard Price                     For Each Unit of Output              Per Unit of Input Direct material5 pounds$12 per pound Direct labor1.5 hours$12 per hour During the month of July, the company actually produced 1,000 statutes, which is 100 units less than expected. Direct material purchased.

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  • 40) The following data was obtained for a company that
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7) The flexible budget variance for variable overhead costs is composed of a(n) ________ variance and a(n) ________ variance. A) efficiency; effective B) spending; rate C) quantity; efficiency D) spending; efficiency 8) The variable overhead efficiency variance depends on whether the quantity of the cost driver used is more or less than ________. A) the standard.

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  • 7) The flexible budget variance for variable overhead costs composed
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6) Financial performance measures are usually not included in a balanced scorecard. 7) Describe a balanced scorecard and identify the categories of key performance indicators advocated by Kaplan and Norton. 9.8   Questions 1) Management control systems in nonprofit organizations will probably never be as highly developed as those in profit-seeking firms. Which of.

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  • 6) Financial performance measures usually not included in a balanced
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  9.1   Questions 1) Elements of the planning and control process for a management control system do NOT include ________. A) measure, monitor and report B) plan and execute C) evaluate and reward D) feedback and control 2) Planning in the management control system does NOT include ________. A) defining goals B) establishing plans to achieve goals C) carrying out.

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  •   9.1   Questions 1) Elements of the planning and control process for
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37) CIS Company has the following information available: Quality engineering of products$20,000 Technical support provided by CIS to suppliers$2,000 Cost of field servicing$80,000 Supervision of testing activities$30,000 Net cost of spoilage$55,000 Depreciation of testing equipment$4,500 Plant utilities in inspection area$100,000 Retesting of reworked products$200,000 Lost sales arising from a reputation for poor quality products$1,000,000 Reinspection of reworked products$44,000 Warranty replacements$3,000 Returns and.

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  • 37) CIS Company has the following information available: Quality engineering of
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12) Residual income is defined as ________. A) sales less operating expenses B) operating income divided by revenue C) net operating profit after tax less a capital charge D) net operating profit after tax 13) The following information pertains to the Vertigo Company: Total assets$150,000 Total current liabilities$110,000 Total expenses$70,000 Total liabilities$115,000 Total revenues$80,000 Return on sales equals ________. A) 12.5% B) 50.0% C).

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  • 12) Residual income defined as ________. A) sales less operating expenses B)
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3) Profit-center managers always have more decentralized decision-making authority than cost-center managers. 4) In designing management control systems, top managers should consider the system's impact on the behavior of employees. 10.3   Questions 1) Managers' incentives for performance are defined as the ________. A) relationship between cost and perceived benefit B) relationship between goal congruence and.

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  • 3) Profit-center managers always have more decentralized decision-making authority than
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9.6   Questions 1) Which of the following is NOT an appraisal cost for quality control? A) inspection and testing of purchased materials B) product quality audits C) maintenance of test equipment D) training program for material suppliers 2) Which of the following is NOT a prevention activity for quality control? A) improvements in production processes B) engineering analyses.

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  • 9.6   Questions 1) Which of the following NOT an appraisal cost
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24) The following information is available for Halquist Stone Company and its two divisions, Crushed Stone and Fieldstone. WholeCrushed Company       Stone    Fieldstone Net sales$100,000$60,000$40,000 Fixed costs controllable by Division Manager16,50012,5004,000 Fixed costs controlled by others8,0005,0003,000 Variable costs: Cost of merchandise sold24,50017,5007,000 Operating expenses16,40010,0006,400 Unallocated costs1,000 What is the contribution controllable by the manager of the Crushed Stone Division? A) $20,000 B) $32,500 C) $35,000 D) $42,500 25) The.

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  • 24) The following information available for Halquist Stone Company and
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  11.1   Questions 1) Investments of large amounts of cash in plant assets are called ________. A) cash outflows B) capital budgeting C) capital projects D) capital outlays 2) The most widely used capital budgeting models are ________. A) payback method B) accounting rate of return C) return on investment D) discounted cash flow methods 3) Which of the following statements is.

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  •   11.1   Questions 1) Investments of large amounts of cash in plant
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22) The following information pertains to Sanjay Company: Total assets$50,000 Total current liabilities$30,000 Total expenses$60,000 Total liabilities$45,000 Total revenues$100,000 Invested capital is defined as total assets. What is the capital turnover? A) 0.40 B) 0.63 C) 1.79 D) 2.00 23) The following information pertains to Kumperor Company: Average total assets$100,000 Total current liabilities$30,000 Total expenses$60,000 Total liabilities$35,000 Total revenues$80,000 Invested capital is defined as total assets. What.

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  • 22) The following information pertains to Sanjay Company: Total assets$50,000 Total current
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11) Pennsylvania Company is considering two investments. The relevant data follows: Project A        Project B Cost$205,010$259,770 Annual cash savings (end of year)$50,000$60,000 Terminal salvage value$0$0 Estimated useful life in years55 Minimum desired rate of return10%10% Method of depreciationStraight-lineStraight-line Present ValuePresent Value Of $1of Ordinary for 5 periodsAnnuity of $1                                               for 5 periods 5%0.78354.3295 6%0.74734.2124 7%0.7134.1002 8%0.68063.9927 10%0.62093.7908 12%0.56743.6048 14%0.51943.4331 Ignoring taxes, the internal rate of return for Project A is.

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  • 11) Pennsylvania Company considering two investments. The relevant data follows: Project
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35) Stanley Company has obtained the following information about a proposed project: Annual cash operating savings (excluding depreciation) for 5 years (end of year)$50,000 Depreciation expense per year for tax purposes$33,000 Estimated salvage value in 5 years$10,000 Cost of equipment$175,000 Required rate of return10% Income tax rate40% Estimated useful life (in years)5 Depreciation method for tax purposesStraight-line Present value of.

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  • 35) Stanley Company has obtained the following information about a
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50) Whitney Company is contemplating three different equipment investments. The relevant data follows: Proposal D      Proposal O     Proposal G Cost$200,000$300,000$830,000 Annual cash savings (end of year)$40,000$70,000$150,000 Terminal salvage value$10,000$5,000$20,000 Estimated useful life in years101010 Minimum desired rate of return12%12%12% Method of depreciationStraight-lineStraight-lineStraight-line The present value factor of an ordinary annuity of one for 10 periods at 12% is 5.6502. The present.

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  • 50) Whitney Company contemplating three different equipment investments. The relevant
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16) Bryant Company has obtained the following data about a possible planned investment: Cost$270,000 Terminal salvage value in 8 years$10,000 Annual cash operating savings for 8 years (end of year)$50,000 Estimated useful life in years8 Minimum desired rate of return10% Present value of ordinary annuity of one, 10%, 8 periods5.3349 Present value of one, 10%, 8 periods0.4665 The.

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  • 16) Bryant Company has obtained the following data about a
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4) Wendell Company has the following information available for the past quarter: Division ADivision BDivision C Sales$250,000$400,000$350,000 Variable expenses52%30%40% Fixed expenses controllable by division manager$60,000$200,000$175,000 Fixed expenses controllable by others$10,000$5,000$7,500 Unallocated expenses for all three divisions are $25,000. What is the contribution by Division C? A) $2,500 B) $27,500 C) $35,000 D) $210,000 5) A manager at a local home improvement.

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  • 4) Wendell Company has the following information available for the
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14) The following information is available for Half Price Books Inc. and its two divisions, Books and Periodicals: WholeBooksPeriodicals Company     Division     Division Net Sales$100,000$50,000$50,000 Fixed Costs Controllable By Division Manager26,50022,5004,000 Fixed Costs Not Controlled By Division Manager18,00015,0003,000 Variable Costs: Cost of Merchandise Sold24,50017,5007,000 Operating Expenses17,40010,0007,400 Unallocated Costs4,000 What is the contribution margin for the Periodicals Division? A) $29,600 B) $32,600 C) $35,600 D) $43,000 15) Assume you are preparing.

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  • 14) The following information available for Half Price Books Inc.
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17) Capricorn Company's records reveal the following: Division X Market price of finished component to outsiders$32 per unit Variable costs per component$24 per unit Division Y Sale price of finished product$42 per unit Variable costs: Division X (1 component)? Division Y Assembly9 per unit Division Y Packaging4 per unit Division Y wants to buy the component from Division X. The.

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  • 17) Capricorn Company's records reveal the following: Division X Market price of
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8) The components of a successful organization are organizational learning, business process improvement, ________ and ________. A) profitability; organizational culture B) profitability; customer satisfaction C) customer satisfaction; financial strength D) goal congruence; managerial effort 9) A well-designed management control system ignores nonfinancial objectives and focuses on financial objectives to develop and report performance measures. 10) Nonfinancial.

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  • 8) The components of a successful organization organizational learning, business
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12) The term "cost center" may be used to describe responsibility centers that are assigned responsibility for capital investment. 13) A set of machines may be a responsibility center for a production supervisor. 14) The entire firm may be a responsibility center for the firm's president. 15) Responsibility centers usually have a single.

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  • 12) The term "cost center" may be used to describe
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