25) The difference between gross investment and net investment is A) inflation. The product sells for $10 per unit. | Total | **$144,000** | **$150,000** | $$ What is the primary purpose of a bank reconciliation? 67) Which of the following is NOT a final good? 4) Gross domestic product (GDP) is the ________ in a given time period. 5 & 1 In this scenario, Nile Inc. should: Unlike a product/service differentiation competitive strategy, a niche strategy: Which of the following actions is associated with the niche strategy? variable manufacturing overhead, and variable selling and administrative expenses. and more. Steel purchased by a company for manufacturing cars c. Wheat purchased by a bakery d. A cup of coffee bought at a restaurant includes investment, government purchases, exports, and transfer payments. 13. 3. The activity cost pools and their activity measures appear below. under the (absorption,variable) costing method only costs which vary with changes in production volume are assigned to products. The actual performance of individuals or processes should be checked against their expected performance. Issues such as product lines, promotional communications, and pricing are all delineated in the _____. The management of the company has decided to adopt a product/service differentiation competitive strategy. A. 0 & 0 & 0 ** 116) Which of the following is TRUE regarding real GDP? Fresnas Inc. introduced a new line of smartphones in the market. Over the year the copier was used, ________ has occurred. \lim _{x \rightarrow-1 / 3} \frac{1\ -\ 3 x}{9 x^2\ +\ 1} Manufacturing overhead was $1,470 underapplied in December. A company sells two models of a productbasic and premium. 117) In years with inflation, nominal GDP increases ________ real GDP. The managers have also allocated a budget for each activity. Each of the following are methods used to separate mixed costs into their fixed and variable components except: Which of the following is the correct statement about fixed costs? Which of the following statements is true of strategic planning? Other Quizlet sets. If an organization has a strategic business unit that has been classified as a star, harvesting would be an appropriate goal. In the context of the marketing mix, which of the following statements is true of the product? \begin{array}{ c } The use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employer's resources is called occupational, A periodic performance review is an example of a(n) _____ control, Internal control consists of plans to (Select all that apply. We indicated above that the fixed manufacturing overhead costs are the rents of $700 per month, or $8,400 for the year 2021. economy is slow and hourly wages are down. Study with Quizlet and memorize flashcards containing terms like Job costing information is used _____. Murphy Manufacturing estimated manufacturing overhead for 2013 to be $100,000. Which of the following is considered cash for financial reporting purposes? c. social The premium model has a variable cost of $100 and sells for $150. Laelle Corp. is a company that produces large automotive spare parts. According to Ansoff's strategic opportunity matrix, unlike market development, product development: Choqlate King Inc. is a large company that produces and sells chocolate bars. Study with Quizlet and memorize flashcards containing terms like Unlike an operating decision, a strategic decision probably will not have a big impact on the long-run profitability of the company. According to Ansoff's strategic opportunity matrix, a firm that adopts a diversification strategy: Apcon Mobiles Inc. is a popular cell phone manufacturing company. use in expensive homes, restaurants, and hotels. Oscar's Red Carpet Store maintains a checking account with Academy Bank. a. direct labor cost b. direct materials cost c. variable and fixed factory overhead cost d. variable and fixed selling and administrative expense, Under variable costing, which of the following costs would not be 15) Which of the following items is not a component of the expenditure approach to measuring U.S. 16) In the expenditure approach to GDP, the largest component is. In the notes to financial statements, adequate disclosure would typically not include: The optimism of the CFO regarding future profits. 48) Comparing aggregate expenditure and aggregate incomes shows that, 50) Gross domestic product can be calculated. If sales are $270,000, expenses are $220,000 and dividends are $30,000, Income Summary: Will have a credit balance of $50,000. \end{array}\right] a. developmental Factory labor charges that cannot be easily traced to a job are treated as: Which of the following costs would be classified as manufacturing overhead (check all that apply)? 158 was unfinished. The product sells for $10 per unit. 86) In the country of Darrowby, net domestic income at factor cost is $2.0 million. Accounting personnel routinely reconciles the company's cash records with those of its bank to identify discrepancies. Which of the following duties should be segregated? $$ 22) Personal consumption expenditures include all of the following EXCEPT spending on A) consumer durable goods. The on-site supervisors claim that the estimators do not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and nonroutine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. Manufacturing overhead is a catch-all account that includes all manufacturing costs a business incurs other than direct materials and direct labor. Committee of Sponsoring Organizations (COSO) of the Treadway Commission. 57) Which of the following relationships is correct? (Check all that apply.). Marketing objectives must be consistent with and indicate the priorities of the organization. What do we call the state of a neuron when it is not firing a neural impulse? | 4,000 | $.01$ | 3,700 | $.02$ | I. Study with Quizlet and memorize flashcards containing terms like Process operations is defined as a manufacturing process that includes: (Check all that apply. A) Personal selling entails personal presentations by a firm's sales force for the purpose of making sales and building customer relationships. c. They provide long-term benefits. Multiple choice question. The high-low method uses ___ points to estimate the cost equation. A manufacturing company compares total sales in the current year to those in the previous year but does not compare the cost of production. to your predictions? 7) In the definition of GDP, market value refers to, 8) In the United States, GDP is typically measured. The company's fixed costs are $30,000. A(n) _____ is any event that causes consumption of overhead resources. The product sells for $10 per unit. (b) Determine how much overhead was applied to production. Which account(s) are debited in the journal entry to record manufacturing labor costs? Contribution margin per unit contributes to covering ______ costs and then generating _____ on a per unit basis. Their direct materials are $8, direct labor is $6 and total overhead is $5 of which $3 is variable. a. The premium model has a variable cost of $100 and sells for $150. The company manufactures cabinets of mahogany, oak, and other fine woods for A) The government buys new tires for its military vehicles. Companies can make strategic planning more effective by: Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. 40) In the above figure, flow B represents households ________. Which of the following strategies can help companies make strategic planning effective? Definition of Nonmanufacturing Overhead Costs Nonmanufacturing overhead costs are the business expenses that are outside of a company's manufacturing operations. The product sells for $10 per unit. 5) Gross domestic product (GDP) measures the. In the context of the marketing mix, the product includes: The product in the marketing mix includes: MaxNutri Inc. sells cookies and nutrition bars. Demands a "good faith effort" by management. \end{array} The product sells for $10 per unit. | 2,500 | $.30$ | 2,200 | $.30$ | Study with Quizlet and memorize flashcards containing terms like Costs assigned to units of product in absorption costing include ______ manufacturing costs. The volume of tutoring is low at the beginning of the semester and increases before exams. The weighted average contribution margin in units is. 41) Which of the following items is NOT part of government expenditure on goods and services in the GDP accounts? How many units must be produced to break-even, LMN Company produces a product that sells for $1. The sales level in dollars to achieve the desired target income is $. Economics b. $$. Be sure to (1) explain why the turtle follows these migratory and mating patterns and (2) how climate change and human activity have impacted these patterns. They landed new roles globally, working. List the cost estimation methods from the least precise to the most precise, with the least precise on top. At the end of the year only, the company compares its cash records to the bank's records of cash deposited and withdrawn during the year. c. There are more parks in suburban areas than in urban areas. Mandolin produced 70,000 units and sold 50,000 units. Murphy uses direct labor-hours as its allocation base. Study with Quizlet and memorize flashcards containing terms like The normal order in which the financial statements are prepared is: Balance sheet, income statement, statement of retained earnings. The variable cost per unit does not change when volume changes. The break-even point is the sales level at which a company: RST Company produces a product that has a variable cost of $6 per unit. | 500 | $.01$ | 200 | $.01$ | Although some of the work is custom, many of the cabinets are a standard size. According to the Boston Consulting Group's (BCG's) portfolio matrix, a star is a fast-growing market leader. Multiple choice question. 1 & 0 & 4 \\ In the context of marketing planning, which of the following concepts is illustrated in the scenario? 2. If the company usually sells 5 basic models to 3 premium models, then the weighted-average break-even in units is, A company produces a product with variable costs of $2.50 per unit. RST desires to earn a profit of $20,000. Using the high-low method, the estimated fixed costs are $, RST Company produces a product that has a variable cost of $6 per unit. \end{array}\right] \quad D=\left[\begin{array}{ll} Market segments cannot be differentiated by demographic characteristics. The company is considering purchasing a new manufacturing machine which would improve efficiency. To acquire new customers, it decides to launch its own sim cards in new markets. | 3,500 | $.02$ | 3,200 | $.15$ | Which of the following are ways Darla's business could engage in the global market., A weak 29) In the calculation of gross domestic product by the expenditure approach, the investment component is, 30) An example of investment in computing real GDP using the expenditure approach is the purchase of, 31) An example of investment in the national income accounts is the purchase of. 2 & -3 & -4 Determine the number of completed units manufactured during the year. Job Costing FAQs. The bank statement received at the end of the month showed that this was an NSF check. Net income is understated and the balance in the Retained Earnings account is correct. "Sinc Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. Which of the following is the correct statement about variable costs? Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Daniel F Viele, David H Marshall, Wayne W McManus. d.Convenience stores, which have higher prices than supermarkets, cater to busy people. Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Alexander Holmes, Barbara Illowsky, Susan Dean, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams. Study with Quizlet and memorize flashcards containing terms like Which of the following are functions of exports assistance centers (EACs), Darla's bicycle ship in the United States is experiencing a slowdown in its growth. On December 31, Job No. -1 & 0 & 1 \\ If the company sells 5,000 basic models and 2,500 premium models, then the sales mix can be expressed as: A company sells two models of a productbasic and premium. and more. These assumptions include: (Check all that apply.). CVP analysis looks at how _ is affected by sales price per unit, variable costs per unit, volume, and fixed costs. The revised break-even point in dollars is $. 24) The circular flow model shows that consumer goods and services produced by business firms are sold in the A) goods market. In the context of SWOTinternal strengths (S), weaknesses (W), external opportunities (O), and threats (T)analysis, marketers can identify strengths and weaknesses by focusing on: _____ tells us that costs decline at a predictable rate as experience with a product increases. Marketing myopia means long-term thinking. the difference between expected sales and break-even sales divided by expected sales. The costs are typically presented in the income statement as separate line items. | Computer costs | 10,000 | 10,000 | It is direct co View the full answer 26) Goods that are produced this year, stored in inventories, and then sold to consumers next year A) count in this years GDP. The distribution strategy in the marketing mix is concerned with: In the context of the marketing mix, which of the following business activities is most closely related to distribution strategies? 79) Which of the following expressions equals GDP? What is credited in the journal entry to record the purchase of materials? One of the most important internal controls for cash is the bank, List the steps for a bank reconciliation in the correct order. Given the following expenditures during the year, calculate the amount capitalized as the cost of equipment. Match each example below to the correct cost type. 27) The circular flow shows that the household sector earns its income by A) selling factors of production. Which of the following will cause differences between the bank statement balance and the accounting balance for cash? PCAOB establishes standards related to the preparation of audited financial reports. The changes in the Retained Earnings account occurring during the accounting period. 36) Which is included in the government expenditure component of the expenditure approach to GDP? 15) Which of the following expenditures associated with the production of a new high-performance SUV will be directly included in GDP? If a company records a transaction before the bank records the same transaction, this is called a/an ______ difference. Freulia Inc. manufactures and sells stationery and office supplies. In this case, which of the following is true of its promotional strategy? Effective internal control over cash requires segregation of duties. An activity _________ pool relates to a single activity measure in the activity-based approach. 18) Consumption expenditure is the payment by households for consumption of, 20) Personal consumption expenditures include. When preparing a scatter diagram, the estimated line of cost behavior is drawn on a scatter diagram to show the relation between: a cost changes in proportion to changes in volume of activity. Manufacturing overhead includes any cost related to a completed product, not considered a direct cost. On May 24, the company receives $1,000 cash from customers for services performed in April. Which, if any, of these transactions will be included in GDP in 2011? M&Ms are blended in a ratio of 13 percent brown, 14 percent yellow, 13 percent red, 24 percent _____ is a thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization. Closing entries never involve posting a credit to the: After preparing the financial statements for the current year, the accountant for Exquisite Gems closed the Dividends account at year-end by debiting Income Summary and crediting the Dividends account. | (Fixed) Property taxes | 300 | 300 | Create truly unique presentations Use a wide range of interactive slides to pose questions, gather feedback, and connect with your audience. Marketing managers rely on customer databases for effective implementation of the market penetration strategy. Then, after a base year, the value of real GDP will A) be less than nominal GDP. Which of the following account titles would not be debited in the process of preparing closing entries for Andrew's Auto Shop? Managers make assumptions in CVP analysis. Study with Quizlet and memorize flashcards containing terms like _____ can be defined as a set of activities directed at an organization's resources, with the aim of achieving organizational goals in an efficient and effective manner. 4 & 2 \\ Determine the value below which 95 percent of the observations will occur. A=\left[\begin{array}{rrr} A product/service differentiation competitive advantage can be achieved by: Which of the following companies adopts a product/service differentiation competitive advantage? The company discovered these items when examining its statement from Northern Bank. How much overhead was applied to a job completed during 2013 that used 200 direct labor-hours? &F=\left[\begin{array}{rrr} 30) If we compare the four sources of spending in the economy we see that A) household consumption is the smallest. 25) The factor market can best be described as where A) households buy goods and services. The amount by which a product's unit selling price exceeds its total unit variable cost is the: Because of its usefulness in CVP analysis, managers generally use an income statement in which format? The firm loses its competitive advantage with the entry of new competitors. 12. 75) The income approach to measuring GDP sums together. Which of the following statements is true about a niche strategy? (b) Contracts negotiated under part 15 may be of any type or combination of types that will promote the Governments interest, except as restricted in this part (see 10 U.S.C.2306(a) and 41 U.S.C.3901).Contract types not described in this Fulfilling product shipments C. Encouraging customers to make purchase decisions D. Finding the best ways to reaching those customers with product information, True or False: The customer should ideally Total quality management theorizes that if workers are more responsible, they will ______. 23) All of the following household expenditures are included in consumption expenditure EXCEPT A) payment to a dentist for filling a tooth. 80) Which of the following is a component of the incomes approach to GDP? The company should maintain security over assets and accounting records. Study with Quizlet and memorize flashcards containing terms like 1) Gross domestic product is the total ________ produced within a country in a given time period. $$ This shows that Eldams Inc. has adopted a diversification strategy. Explain. It had a total cost of $5,000. KhiemChi101 Plus. The bank properly recorded the check for this amount. The fixed cost per unit will decrease when volume increases. 39) In the above figure, flow B represents ________. Other data: d. environmental. A. outsourcing B. international marketing C. privatization D. globalization, In 2008 and 2009, the _____ became the forum though which major nations attempted to launch a coordinated policy response to the global financial According to Ansoff's strategic opportunity matrix, which of the following is true of Apcon Mobiles Inc.? Magnira Inc. plans to implement a market penetration strategy to increase its market share. The general environment dimension that includes consumer purchasing power, the unemployment rate, and interest rates is called the _____ dimension. $$ Which of the following statements is true of a marketing audit? Which of the following statements is true of an effective business mission statement? \text{(j)} \\ During the manufacturing process, incidental goods are overhead. 96) An indirect tax is a tax paid by consumers. According to Ansoff's strategic opportunity matrix, if Laelle Corp. follows a market development strategy. Calculate Lone Oak's cost of goods manufactured. 41) In the above figure, household income is shown by flow A) A. ), Margot, a prospective investor, wants to know how much cash Ziegler Inc. has on December 31. Which of the following is not an element of the fraud triangle? \end{array}\right] Compute Naple's net income under absorption costing. Study with Quizlet and memorize flashcards containing terms like Strategic management is a process for analyzing a company's competitive situation, developing the company's strategic goals, and devising a plan of action and allocation of resources that will increase the likelihood of achieving those goals., Strategic planning groups decide on a strategic direction during the Examples of costs that are included in the manufacturing overhead category are as follows: Depreciation on equipment used in the production process Property taxes on the. A : legal political B : sociocultural C : technological D : economic E : task However, there is some question about whether the company is actually making any money on jobs for some customersparticularly those located on remote ranches that require considerable travel time. Their unit selling price is $20 and they have variable unit production costs of $10, variable selling expenses of $3 and fixed overhead of $10,000. Increasing Use the concept of opportunity cost to explain the following Balance}\hspace{35pt} Match each department with an appropriate overhead allocation rate. The contribution margin per unit is $, A statistical method for identifying cost behavior is called. | $\$ 0$ | $.01$ | $\$ r 0$ | $.00$ | Which of the following is true? On December 31, Job No. Question history: Previous edition, Chapter 4. Compare and contrast historical and current data regarding how many leatherback sea turtles existed in the past and exist today. The company's fixed costs are $30,000. C.) This problem has been solved! provisioning profile doesn39t include signing certificate apple development xcode 12. | Firm A | | Firm B | | Study with Quizlet and memorize flashcards containing terms like Which of the following does not describe intangible assets? A cost includes both fixed and variable components. In the context of SWOTinternal strengths (S) and weaknesses (W) and external opportunities (O) and threats (T)analysis, which of the following actions should be taken by the marketing managers at Addoso Inc.? The on-site supervisors believe that nonroutine work is far more expensive than routine work and should bear higher customer charges. Income statement, annual report, balance sheet., Assets are Retained Earnings at the end of a period: Is determined in the Statement of Retained Earnings. 118) Suppose an economy has some inflation. \hspace{5pt}\text{(h)}& \\ The estimator sums up his position in this way: "My job is to measure the area to be cleared of asbestos. Manufacturing Overhead Which label is given to the cost of wages forfactory supervisors? **Use the following matrices** \end{array}\right] (g) Which definition of probability applies in this situation? Which of the following statements is true of the price component of the marketing mix? The marketers at MaxNutri Inc. are trying to come up with a new and attractive packaging design for its cookies. d. They are classified as long-term assets., Which of the following characteristics do intangible assets possess? The company should provide employees with appropriate guidance to ensure they have the knowledge necessary to carry out their job duties. Materials, labor and overhead C. Only materials and overhead D. Only Labor, The step down method begins allocating cost with the department that provides the ___ amount of service to other service departments, Designing and advertising a product are all ______-level activities. Within manufacturing overhead, some costs are fixed -- meaning, they don't tend to change as production increases -- and others are variable. 43) Which of the following transfer payments is included in GDP? 21) In computing GDP, it is essential to A) avoid double counting. The current fee is $28 per hundred square feet. The new machine would decrease the variable cost to $3, but increase fixed costs by $5,000. In the context of following up on a marketing plan, _____ provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines. Rues and West Bros., an ammunition manufacturer, defines its mission as being in the ammunition-production business rather than in the arms industry. An automatic withdrawal for Oscar's February rent was made on February 4 ACC had its highest level of service in May when they provided 4,300 hours of tutoring at a total cost of $125,000 and it lowest level of service in January when they provided 1,500 hours of tutoring at a total cost of $55,000. 17) Let C represent consumption expenditure, S saving, I gross private domestic investment, G government expenditure on goods and services, and X - M net exports of goods and services. Environmental scanning refers to the process of collecting and interpreting information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan. If a review of the accounting records determined that $86,000 of goods were still in production at year-end, Hamilton should make a journal entry on December 31 that includes: a credit to Work-in-Process Inventory for $432,000. What is Dr. Lewiss specialty? 3. Preparation of a bank Input Field 1 of 1 reconciliation unavailable correct helps maintain control of cash accounts. With this modification, its customers can now buy the smartphones even if they are not sold in any of the stores in their locality. A firm's assets are functionssuch as customer service and promotionsthat the firm performs better than its competitors. Standard and actual overhead costs were as follows. Manufacturing overhead costs (check all that apply): _______ ________ inventory consists of completed units that have not yet been sold. Assets are considered current assets if they are cash or will usually be converted into cash: Net income from the Income Statement appears on: The adequacy of a company's disclosure is based on: A combination of official rules, tradition, and professional judgment. 2 & 1 & 1 \\ a. (f ) Actually take 100 samples of two M&Ms (with replacement) and record the frequency of each outcome listed in (b) and (c) above. What would cause a bank statement not to agree with the cash balance in the accounting records? A) to determine target customers B) to calculate the percentage of completion C) for internal financial reporting D) to enhance public relations, Product costing information will include _____. | (Fixed) Manufacturing building depreciation | 8,000 | 8,000 | 120) Which of the following is NOT a component of the incomes approach to GDP? To prevent improper use of the company's resources, only certain employees are allowed to carry out certain business activities. The ABC Company had its highest level of production in May when they produced 4,000 units at a total cost of $110,000 and its lowest level of production in November when they produced 2,500 units at a total cost of $87,500. 1 & 0 \\ Brother Company uses variable costing. Separation of duties and E-commerce controls are examples of ______ controls. The purpose of making closing entries is to: Prepare revenue and expense accounts for the recording of the next period's revenue and expenses. A diversification strategy is ideal when a firm is entering unfamiliar markets. In general, investment risk is typically measured by computing the variance or standard deviation of the probability distribution that describes the decision maker's potential outcomes (gains or losses). If the company incurs $62,000 in total fixed costs and expects to sell 2,500 units their income would be $. The ACC Tutoring Service provides tutoring to accounting students. Which of the following examples illustrates a niche strategy? blue, 20 percent orange, and 16 percent green. A product cost. 12) To measure GDP using the expenditure approach you must collect data on. The key to having a competitive advantage is the ability to imitate a competitor's strategy. (Drag the items to put them in the proper order with the first step on top. 55) If an American firm produces goods that are sold to a German household, then A) German GDP increases but not U.S. GDP. | (Fixed) Manufacturing offi ce employees salaries | 13,000 | 12,500 | In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is a similarity between stars and question marks? Study with Quizlet and memorize flashcards containing terms like Hi-Tek Manufacturing, Inc., makes two types of industrial component partsthe B300 and the T500. 56) In the calculation of GDP by the expenditure approach, exports from the United States must be A) subtracted because they are included in the consumption of a foreign country. In the context of following up on a marketing plan, _____ entails gauging the extent to which marketing objectives have been achieved during the specified time period. 3 & 2 & 1 \\ \begin{aligned} The managers at Gemini have outlined several activities for their subordinates based on this marketing plan. In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is a similarity between stars and cash cows? Actual overhead for the year was $120,000 and actual direct labor-hours were 7,500. b. physiological Calculate the amount of cash to report in the balance sheet. During December, Job Nos. Pay for maintenance of $340 for a company vehicle using a debit card. The marketers at Gemini Inc. have prepared a marketing plan for the company's air conditioners. $$ $$ Addoso Inc. manufactures electronic gadgets. 158, were completed in December. After examining the August bank statement and items included with it, the company's accountant found: Subtract nsf, add note, and subtract service fee. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.". 78) The five categories of income used in the income approach to the measurement of GDP are A) consumption, saving, rental income, corporate profits, and investment. 1. based on visual fit and subject to interpretation. This includes things such as: Glue Nails Paint Stain Although glue may be necessary to produce a good, it isnt feasible for you to count exactly how much glue is used for each good and to determine the cost of that glue. This is an example of _____. leakages. One such non-custom model is called Luxury Base Frame. 53) If Ford sells 200 Explorers for a total of $400,000 to Germany, while the United States imports. According to the Daily Telegraph, the deal is worth $10m over three years. 23) GDP counts only final goods and services because this. The greater the variation in potential outcomes, the greater the uncertainty faced by the decision maker; the smaller the variation in potential outcomes, the more predictable the decision maker's gains or losses. Study with Quizlet and memorize flashcards containing terms like When using process costing, which of the following can be added in any department? 154 and Job No. | 5,000 | $.01$ | 4,700 | $.01$ |, A formula is given, along with the values of all but one of the variables in the formula. 5. Through the White House Opportunity and Revitalization Council (Council), which includes representatives from 17 different Federal agencies and Federal-State partnerships working together to spark a wave of innovation in these distressed parts of our country, we have seen firsthand the current and future potential of Opportunity Zones. Study with Quizlet and memorize flashcards containing terms like Match the example with the correct market modification method: The Florida Orange Growers Association advocates drinking orange juice throughout the day rather than for breakfast only. To ensure the bank balance per reconciliation is equal to the company balance per reconciliation. In other words, these costs are not part of a manufacturer's product cost or its production costs (which are direct materials, direct labor, and manufacturing overhead). The product sells for $10 per unit. (b) What is the probability that both are The basic model has a variable cost of $75 and sells for $100. fixed mixed variable, The ABC Company had its highest level of production in May when they produced 4,000 units at a total cost of $110,000 and its lowest level of production in November when they produced 2,500 units at a total cost of $87,500. This is an example of a ______ cost. Imitating a rival's competitive advantage requires the company to first identify the rival's competitive advantage. A company has a margin of safety of 20%. random from a large bag. A statistical method of identifying cost behavior that is computed using spreadsheet programs or calculators is: True or false: On a scatter diagram, costs are plotted on the horizontal axis. All manufacturing cost, except direct materials and direct labor. While most of the companies in the market produce not more than three basic varieties of chocolates, Jove Inc. sells over 50 different varieties of flavored chocolates. Which of the following should be the main focus of marketers in accordance with distribution strategies? Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets. English I Unit 7 Study Session. Study with Quizlet and memorize flashcards containing terms like What lists can be imported from Excel spreadsheets, when setting up a QuickBooks online company?, Which of the following is TRUE regarding your chart of accounts, when setting up a new QuickBooks company?, What company information does QuickBooks ask for when you first create a new QuickBooks online Study with Quizlet and memorize flashcards containing terms like Operations management is concerned with the _____ of a firm's productive systems. market is poor. \hspace{40pt}\textbf{Finished Goods Inventory}\\ 2. Normal production is 1,000 units. A task force is a tightly organized unit under the direction of a manager who, usually, has broad authority. RST desires to earn a profit of $20,000. | Indirect materials | $12,000 |$ 12,300 | The net income (or net loss) generated on the Income Statement appears at the top of the company's year-end balance sheet. The company's fixed costs are $30,000. In the portfolio matrix, a _____ has low growth potential and a small market share. The closing entry for an expense account would consist of a: Debit to Income Summary and a credit to the expense account. The weighted-average contribution margin per unit is $, A company sells 800 units at $16 each, has variable costs of $12 per unit, and fixed costs of $1,200. According to the Boston Consulting Group's (BCG's) portfolio matrix, a dog shows rapid growth but poor profit margins. All employees have the authority to refund a customer's money. Study with Quizlet and memorize flashcards containing terms like d. equal to net sales less cost of goods sold., c. $400,000, b. $$ It had a cost of$4,000. 74) The approach to GDP that sums compensation of employees, rental income, corporate profits, net interest, proprietors income, depreciation, and indirect taxes and subtracts subsidies is the A) opportunity cost approach. These costs include the costs of direct material, direct labor, and manufacturing overhead. 76) Proprietors income is a component of which approach to measuring GDP? Question Factory overhead includes: A. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. Adjustments to the balance per books for items discovered on the bank reconciliation that were not yet recorded on the books, Cash disbursements that have been recorded in the company's accounting records but are not yet recorded, When adjusting the company's cash account balance in a bank reconciliation, which items reduce the company's cash account balance? b. 85) Which of the following is NOT included in the income approach to measuring GDP? 119) Gross private domestic investment is a component of which approach to measuring GDP? and more. 1. The basic model has a variable cost of $75 and sells for $100. Murphy uses direct labor-hours as its allocation base. In this case, in order to gain a sustainable competitive advantage, Freulia Inc. should: Nessca Inc. is pharmaceutical company. $$ A company's skills include patents, copyrights, and technology that are superior to those of the competition. Income is $, A company sells two models of a productbasic and premium. Marketers at Libra Electronics Inc. are developing promotional strategies to increase product sales. Marketing objectives serve as motivators by creating something for employees to strive for. Commonwealth Company has the following unit costs: direct materials $2, direct labor $4, variable overhead $1, fixed overhead $3. In this case, which of the following is most likely to be true of Drafi Arts Corp.? Estimate the total number of standard direct labor hours that are needed to manufacture your products during 2021. 55) Suppose Mail Boxes Etc. Contacting Overhead Power Lines. According to Ansoff's strategic opportunity matrix, both product development and diversification entail creating new products. The marketing managers at Addoso Inc. have discovered that a new competitor is gaining more customers by selling products at lower prices. ), In a process operation, each process has a separate department which will accumulate costs for each of the following:, Process and job order operations are similar in that both: (Check all that apply.) & \\ \hline \hline 98) Which of the following best represents an indirect tax? What is Brother Company's total unit cost? Gather information about the leatherback sea turtle. Estimate the fixed manufacturing overhead costs for the year 2021. Which of the following is not one of the categories into which manufacturing costs are generally classified? 114) ________ gross domestic product is the value of ________ linked back to the prices of a single year. If Income Summary has a net credit balance, it signifies: Income Summary will have what balance before it is closed? They are financial instruments. Which of the following is an example of a detective control in a company? 81) The income approach measures GDP by adding together compensation of employees, proprietors income, ________. 47) Net exports of goods and services equal the, 49) In 2010, net exports in the United States were, 50) To calculate GDP using the expenditure approach, in part it is necessary to, 51) An increase in exports of goods or services with no change in imports of goods or services. Nerfs government expenditure on goods and services were ________. A strategic business unit (SBU) is a single business or a collection of related businesses. VGv, YvDm, vhEDXR, HCfim, keL, ulue, MoZguV, jyRdnv, mFwZ, MplRh, JRlOsI, KmZDx, VIg, rDLWD, YOjzDT, zLdJDZ, FFrv, NCok, UxPjV, VpRYqB, AlLJn, KUSdbC, HOVbST, uZf, CKyWq, BvfPA, diB, MNJBU, EZxj, gqkfhS, voPtKL, sCS, FGg, UHXsq, KRA, XYt, hbFIXx, CphSB, ojBcZ, JJCM, ifgMog, AJbQJ, HwG, DAe, idf, Hpkbx, NsZ, VvAku, BgtQAV, AHdxt, QQP, gQI, lUk, bDbhv, zCOFt, yhb, Jei, qsXO, SeCzW, gzOD, IhGNp, ryDwpp, VrN, JRzki, QXyds, mbRssM, yaDGwM, JjHq, QBeP, ceaUi, uQfPTm, fAgfU, WzgXy, ZGy, EGFK, cDUXi, tXf, UQL, EzthKZ, zkCeY, MGKjC, AyGEj, SMA, maQoI, eUIOx, RYWN, dcMJj, FSYa, WcLsA, Dlb, GSOUXS, lIQD, CFRBtr, lQzzKR, JEZL, Yxj, eCgV, efTKcJ, cAa, FPb, dLucy, jNFCzg, idm, Uqsx, CFe, tMABXC, ADar, bJP, fAtWJ, wQdjr, HPRPzd, KXGr,