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Accounting Expert Answers & Study Resources : Page 35

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3.Lethal Industries has recently patented a new product called MaxiDrive, an automobile oil for maximum engine performance. The following annual information was developed by the company's controller for use in price determination: Variable production costs$1,860,000 Fixed overhead620,000 Selling expenses420,000 General and administrative expenses230,000 Desired profit342,000 Annual demand for the product is expected to be 500,000 quarts..

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  • 3.Lethal Industries has recently patented a new product called MaxiDrive,
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  1.Discuss the qualitative factors that should be considered in short-run decision making. 2.“Variable costs are relevant and fixed costs are irrelevant.” Explain why you agree or disagree with this statement. 3.What two criteria must be met for information to be considered relevant to decision making? 4.Why is the book value of equipment irrelevant.

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  •   1.Discuss the qualitative factors that should be considered in short-run
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11.Smile Industries capital structure consists of $1,000,000 of debt at 6 percent interest and 1,500,000 of stockholders equity at 2 percent. The overall cost of capital is a.2.4% b.4.8% c..8% d.9.8% 12.Smile Industries capital structure consists of $1,000,000 of debt at 6 percent interest and 1,500,000 of stockholders equity at 2 percent. The proportion of Debt in.

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  • 11.Smile Industries capital structure consists of $1,000,000 of debt at
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TRUE/FALSE 1.The long-term objectives of a company need not include statements concerning pricing policy. 2.A company that produces standard items for a competitive market should have the same pricing strategies as a company that makes unique items custom-designed for its customers. 3.A company producing custom-designed products for its customers can be more conservative.

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  • TRUE/FALSE 1.The long-term objectives of a company need not include statements
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8.The Cal-Fruit Company specializes in decorative fruit baskets. Currently, the company is analyzing purchase alternatives for a fruit-polishing machine. Data relevant to the decision are as follows: Machine AMachine B Cost$90,000$82,000 Useful life5 years5 years Residual value$2,000$3,000 Estimated annual net cash flows$35,000$30,000 Present value multipliers at 12 percent: Dollar received at the end of five years.567 Dollar received.

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  • 8.The Cal-Fruit Company specializes in decorative fruit baskets. Currently, the
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31.Internal reports on quality at the Acme Publishing Company generated the following information for the Trade Division for the first three months of the year: Total sales$1,000,000 Costs of quality: Prevention22,500 Appraisal47,000 Internal failure36,000 External failure64,000 Compute the costs of nonconformance as a percentage of total sales. a.12.0% b.5.4% c.1.3% d.10% 32.Which of the following specific measures of vendor quality would be.

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  • 31.Internal reports quality at the Acme Publishing Company generated the
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  SHORT ANSWER 1.Identify and describe three traits that differentiate management information systems (MIS) from traditional management accounting techniques. 2.The following statement appears in the annual report of Ryan, Inc., for the year ended January 1, 2008: “We are confident that our ever-increasing emphasis on customer service will enhance our reputation as the.

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  •   SHORT ANSWER 1.Identify and describe three traits that differentiate management information
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12.You are given the following present value factors at 8 percent, the Tehachapi Glass Company's minimum desired rate of return: End of PeriodPresent Value of $1Present Value of an Annuity of $1 1.926.926 2.8571.783 3.7942.577 4.7353.312 5.6813.993 6.6304.623 The Tehachapi Glass Company is considering the replacement of a piece of equipment. The old machine has a carrying value.

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  • 12.You given the following present value factors at 8 percent,
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  SHORT ANSWER 1.Lightfoot, Inc., is an international shoe company that specializes in retailing medium-priced goods. Retail outlets are located throughout the world. Management wishes to create an image of giving the customer the most quality for the money spent. Selling prices are developed to attract customers away from competitors. End-of-the-month sales.

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  •   SHORT ANSWER 1.Lightfoot, Inc., an international shoe company that specializes in
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  MULTIPLE CHOICE 1.The primary focus of a management information system is on the management of a.people. b.costs. c.activities. d.time. 2.Information captured by a management information system allows managers to do all of the following except a.determine accurate product or service costs. b.improve processes. c.provide timely feedback. d.satisfy all customer inquiries. 3.How does an ERP system differ from an MIS? a.The ERP system.

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  •   MULTIPLE CHOICE 1.The primary focus of a management information system the
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11.An external issue to be considered when setting a price is a.the quality of competing products or services. b.the quality of materials and labor. c.a price geared toward a minimum return on investment. d.the total costs of the product or service. 12.Fixed costs that change for activity outside the relevant range would include a.supervision costs. b.electricity costs. c.production.

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  • 11.An external issue to be considered when setting a price
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TRUE/FALSE 1.Many traditional management information systems do not produce meaningful results for today's business environment. 2.Traditional management information systems focus on financial reporting. 3.A management information system can be designed to support many different types of management philosophies. 4.The primary focus of a management information system is management of costs. 5.A management information system is.

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  • TRUE/FALSE 1.Many traditional management information systems do not produce meaningful results
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21.Depreciation is a unique expense because it a.does not require a cash outlay. b.does not affect income taxes. c.is the same amount every accounting period. d.has to be calculated. 22.Cost analysis for capital investment decisions is best accomplished by techniques that a.discount cash flows over a project's life. b.emphasize the liquidity of invested costs. c.clearly distinguish different cost.

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  • 21.Depreciation a unique expense because it a.does not require a cash
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  SHORT ANSWER 1.Discuss the qualitative factors that should be considered in the evaluation of proposals in addition to the quantitative factors. 2.What criteria must be met for accepting any capital expenditure proposal with respect to minimum rate of return on investment? 3.Why is the book value of equipment irrelevant when considering the replacement.

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  •   SHORT ANSWER 1.Discuss the qualitative factors that should be considered in
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11.CAD is a.a cost allocating decision. b.computer aided downtime. c.a computer-based engineering system. d.an organizational environment. 12.When a firm changes to a JIT operating and management philosophy, a.it attempts to increase the number of suppliers it has for each item it uses to ensure a reliable flow of materials into the production process. b.it seeks out the.

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  • 11.CAD is a.a cost allocating decision. b.computer aided downtime. c.a computer-based engineering system. d.an
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21.The pricing method that establishes selling prices based on a stipulated rate above total production costs is a.return on assets pricing. b.target cost pricing. c.gross margin pricing. d.time and materials pricing. 22.The pricing method that is used primarily by service businesses is a.return on assets pricing. b.gross margin pricing. c.target cost pricing. d.time and materials pricing. 23.The pricing method that.

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  • 21.The pricing method that establishes selling prices based a stipulated
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TRUE/FALSE 1.Capital investment analysis can be applied in case of expensive and long-term projects. 2.Capital investment analysis ensures that the resources are used wisely. 3.The net present value method and other methods of capital investment analysis can be used for taking short-term decisions. 4.Capital facilities and projects are not expensive. 5.Capital investment analysis is also.

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  • TRUE/FALSE 1.Capital investment analysis can be applied in case of expensive
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  MULTIPLE CHOICE 1.An example of a pricing objective is to a.have prices that top the market. b.maintain or gain market share. c.maximize losses. d.minimize quality and cost. 2.An example of a pricing objective is to a.ignore long-term pricing strategies in favor of short-term profits. b.increase market share irrespective of the cost of a product. c.maintain a price that is.

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  •   MULTIPLE CHOICE 1.An example of a pricing objective to a.have prices that
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13.The Dropinsky Company's management wants to determine if Division Y should be eliminated. The following data are available (in thousands). Segmented Income Statement Division XDivision YDivision ZTotal Sales$200$300$400$900 Less variable costs80    150   160   390 Contribution margin$120$150$240$510 Less direct fixed costs70    170   120   360 Segment margin$ 50  ($ 20)$120  $150 Less common fixed costs90 Operating income$ 60 a. Assuming all direct fixed costs of Division Y are avoidable, what.

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  • 13.The Dropinsky Company's management wants to determine if Division Y
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  MULTIPLE CHOICE 1.Various parts of the organization that are involved in capital investment analysis include all of the following except a.financial analysts b.marketing specialists c.creditors d.managers 2.Qualitative factors that are considered by decision makers include all of the following except a.impact on other company operations b.revenue from fees c.anticipated future technological improvements d.competition. 3.The key steps followed by the managers in.

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  •   MULTIPLE CHOICE 1.Various parts of the organization that involved in capital
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6.The following data have been gathered for a capital investment decision. The amounts relate to a 14 percent discount factor.   End of PeriodPresent Value of $1Present Value of an Annuity of $1 1.877.877 2.7691.646 3.6752.321 4.5922.913 5.5193.432 6.4563.888 a. Compute the present value of the following cash flows. Use a discount rate of 14 percent. Year 1$40,000 Year 260,000 Year 350,000 Year.

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  • 6.The following data have been gathered for a capital investment
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11.Automating the existing production process does not come under the purview of capital investment analysis. 12.An organization with several branches and a highly developed system for capital investment analysis requires that all proposals should go through preliminary screening. 13.The proposals that will either meet company strategic goals or produce the minimum rate.

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  • 11.Automating the existing production process does not come under the
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5.Regal Kitchens, Inc., is considering the production of a new kitchen vent system. The Marketing Department has determined that there would be demand for the product at or below a selling price of $150 per unit. Anticipated unit costs are as follows: Direct materials$26.00 Direct labor costs Manufacturing Hours2.2 Hourly rate$12.00 Assembly Hours2.5 Hourly rate$10.00 Machine hours2 Regal uses the.

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  • 5.Regal Kitchens, Inc., considering the production of a new kitchen
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