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GCU ACC 650 Week 8 Quiz 2016 Nov
(All Correct Answers)
Question
Which of the following costs can be ignored
when making a decision?
Opportunity costs.
Differential costs.
Sunk costs.
Relevant costs.
All future costs.
Which of the following best defines the
concept of a relevant cost?
A future cost that differs among alternatives.
A past cost that differs among alternatives.
A cost that is based on past experience.
A future cost that is the same among
alternatives.
A past cost that is the same among
alternatives.
The term "opportunity cost" is best
defined as:
the amount of money paid for an item, taking
possible discounts into account.
the benefit associated with a rejected
alternative when making a choice.
an irrelevant decision factor.
the amount of money paid for an item, taking
inflation into account.
the amount of money paid for an item.
Which of the following represents the
cost-plus pricing formula?
Price = cost + (markup percentage * cost).
Price = cost + markup percentage.
Price = cost + markup percentage.
Price = cost * markup percentage.
Price = cost + (markup percentage + cost).
If the volume sold reacts strongly to changes
in price, demand:
has no elasticity.
has negative elasticity.
is inelastic.
is elastic.
is unrealistic.
n a net-present-value analysis, the discount
rate is often called the:
payback rate.
hurdle rate.
minimal value.
net unit rate.
objective rate of return.
The net-present-value method assumes that
project funds are reinvested at the:
hurdle rate.
rate of return earned on the project.
cost of debt capital.
cost of equity capital.
internal rate of return.
The following data pertain to Lemon
Enterprises:
Variable manufacturing cost: $70
Variable selling and administrative cost: 20
Applied fixed manufacturing cost: 40
Allocated fixed selling and administrative
cost: 15
What price will the company charge if the
firm uses cost-plus pricing based on variable manufacturing cost and a markup
percentage of 110%?
$84.
$147.
$210.
$231.
Some other amount.
The following costs relate to Southside
Company: Variable manufacturing cost, $30; variable selling and administrative
cost, $8; applied fixed manufacturing overhead, $15; and allocated fixed
selling and administrative cost, $4. If Southside uses
absorption manufacturing-cost pricing formulas, the company's markup percentage
would be computed on the basis of:
$30.
$38.
$45.
$57.
some other amount.
Occular is studying whether to drop a product
because of ongoing losses. Costs that would be
relevant in this situation would include variable manufacturing costs as well
as:
factory depreciation.
avoidable fixed costs.
unavoidable fixed costs.
allocated corporate administrative costs.
general corporate advertising.
A company that is using the internal rate of
return (IRR) to evaluate projects should accept a project if the IRR:
is greater than the project's net present
value.
equates the present value of the project's
cash inflows with the present value of the project's cash outflows.
is greater than zero.
is greater than the hurdle rate.
is less than the firm's cost of investment
capital.
Sales $528,000
Variable manufacturing costs 288,000
Fixed manufacturing costs 120,000
Variable selling costs 52,800
Fixed administrative costs 35,200
Rhythm Company has offered to purchase 3,000
IT-54s at $16 each. Sound has available
capacity, and the president is in favor of accepting the order. She feels it would be profitable because no
variable selling costs will be incurred. The plant manager is
opposed because the "full cost" of production is $17. Which of the following correctly notes the
change in income if the special order is accepted?
$3,000 decrease.
$3,000 increase.
$12,000 decrease.
$12,000 increase.
None of these.
From an economic perspective, a company's
profit-maximizing quantity is found where:
the total cost curve intersects with the
marginal cost curve.
the total revenue curve intersects with the
average revenue curve.
the marginal revenue curve intersects with
the demand curve.
the marginal revenue curve intersects with
the marginal cost curve.
the marginal cost curve intersects with the
demand curve.
Algeria Transport Company has average
invested capital of $800,000 and a target return on investment of 15%. The total cost per unit is $20 based on a
volume level of 25,000 units. Albany's markup percentage
on total cost is:
some other amount.
Which of the following is the proper
calculation of a company's depreciation tax shield?
Depreciation / tax rate.
Depreciation deduction + income taxes.
Depreciation * tax rate.
Depreciation / (1 - tax rate).
Depreciation * (1 - tax rate).
Capital budgeting tends to focus primarily
on:
revenues.
costs.
cost centers.
programs and projects.
allocation tools.
Jenkins plans to generate $650,000 of sales
revenue if a capital project is implemented. Assuming a 30% tax rate, the sales revenue
should be reflected in the analysis by a:
$195,000 inflow.
$195,000 outflow.
$455,000 inflow.
$455,000 outflow.
$650,000 inflow.
Susan is contemplating a job offer with an
advertising agency where she will make $54,000 in her first year of employment. Alternatively, Susan can begin to work in her
father's business where she will earn an annual salary of $38,000. If Susan decides to work with her father, the
opportunity cost would be:
$0.
$38,000.
$54,000.
$92,000.
irrelevant in deciding which job offer to
accept.
onsider the following statements about the
total-cost and the incremental-cost approaches of investment evaluation:
Which of the above statements is (are) true?
I only.
II only.
III only.
II and III.
I, II, and III.
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GCU ACC 650 Week 8 Quiz 2016 Nov
(All Correct Answers)
Question
Which of the following costs can be ignored
when making a decision?
Opportunity costs.
Differential costs.
Sunk costs.
Relevant costs.
All future costs.
Which of the following best defines the
concept of a relevant cost?
A future cost that differs among alternatives.
A past cost that differs among alternatives.
A cost that is based on past experience.
A future cost that is the same among
alternatives.
A past cost that is the same among
alternatives.
The term "opportunity cost" is best
defined as:
the amount of money paid for an item, taking
possible discounts into account.
the benefit associated with a rejected
alternative when making a choice.
an irrelevant decision factor.
the amount of money paid for an item, taking
inflation into account.
the amount of money paid for an item.
Which of the following represents the
cost-plus pricing formula?
Price = cost + (markup percentage * cost).
Price = cost + markup percentage.
Price = cost + markup percentage.
Price = cost * markup percentage.
Price = cost + (markup percentage + cost).
If the volume sold reacts strongly to changes
in price, demand:
has no elasticity.
has negative elasticity.
is inelastic.
is elastic.
is unrealistic.
n a net-present-value analysis, the discount
rate is often called the:
payback rate.
hurdle rate.
minimal value.
net unit rate.
objective rate of return.
The net-present-value method assumes that
project funds are reinvested at the:
hurdle rate.
rate of return earned on the project.
cost of debt capital.
cost of equity capital.
internal rate of return.
The following data pertain to Lemon
Enterprises:
Variable manufacturing cost: $70
Variable selling and administrative cost: 20
Applied fixed manufacturing cost: 40
Allocated fixed selling and administrative
cost: 15
What price will the company charge if the
firm uses cost-plus pricing based on variable manufacturing cost and a markup
percentage of 110%?
$84.
$147.
$210.
$231.
Some other amount.
The following costs relate to Southside
Company: Variable manufacturing cost, $30; variable selling and administrative
cost, $8; applied fixed manufacturing overhead, $15; and allocated fixed
selling and administrative cost, $4. If Southside uses
absorption manufacturing-cost pricing formulas, the company's markup percentage
would be computed on the basis of:
$30.
$38.
$45.
$57.
some other amount.
Occular is studying whether to drop a product
because of ongoing losses. Costs that would be
relevant in this situation would include variable manufacturing costs as well
as:
factory depreciation.
avoidable fixed costs.
unavoidable fixed costs.
allocated corporate administrative costs.
general corporate advertising.
A company that is using the internal rate of
return (IRR) to evaluate projects should accept a project if the IRR:
is greater than the project's net present
value.
equates the present value of the project's
cash inflows with the present value of the project's cash outflows.
is greater than zero.
is greater than the hurdle rate.
is less than the firm's cost of investment
capital.
Sales $528,000
Variable manufacturing costs 288,000
Fixed manufacturing costs 120,000
Variable selling costs 52,800
Fixed administrative costs 35,200
Rhythm Company has offered to purchase 3,000
IT-54s at $16 each. Sound has available
capacity, and the president is in favor of accepting the order. She feels it would be profitable because no
variable selling costs will be incurred. The plant manager is
opposed because the "full cost" of production is $17. Which of the following correctly notes the
change in income if the special order is accepted?
$3,000 decrease.
$3,000 increase.
$12,000 decrease.
$12,000 increase.
None of these.
From an economic perspective, a company's
profit-maximizing quantity is found where:
the total cost curve intersects with the
marginal cost curve.
the total revenue curve intersects with the
average revenue curve.
the marginal revenue curve intersects with
the demand curve.
the marginal revenue curve intersects with
the marginal cost curve.
the marginal cost curve intersects with the
demand curve.
Algeria Transport Company has average
invested capital of $800,000 and a target return on investment of 15%. The total cost per unit is $20 based on a
volume level of 25,000 units. Albany's markup percentage
on total cost is:
some other amount.
Which of the following is the proper
calculation of a company's depreciation tax shield?
Depreciation / tax rate.
Depreciation deduction + income taxes.
Depreciation * tax rate.
Depreciation / (1 - tax rate).
Depreciation * (1 - tax rate).
Capital budgeting tends to focus primarily
on:
revenues.
costs.
cost centers.
programs and projects.
allocation tools.
Jenkins plans to generate $650,000 of sales
revenue if a capital project is implemented. Assuming a 30% tax rate, the sales revenue
should be reflected in the analysis by a:
$195,000 inflow.
$195,000 outflow.
$455,000 inflow.
$455,000 outflow.
$650,000 inflow.
Susan is contemplating a job offer with an
advertising agency where she will make $54,000 in her first year of employment. Alternatively, Susan can begin to work in her
father's business where she will earn an annual salary of $38,000. If Susan decides to work with her father, the
opportunity cost would be:
$0.
$38,000.
$54,000.
$92,000.
irrelevant in deciding which job offer to
accept.
onsider the following statements about the
total-cost and the incremental-cost approaches of investment evaluation:
Which of the above statements is (are) true?
I only.
II only.
III only.
II and III.
I, II, and III.
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