Question 1

Y = m(X)is the formula for a(n):

Accepted Answer

A) Activity cost 
B) Variable cost 
C) Fixed cost 
D) Mixed cost 
A) Activity cost 
B) Variable cost 
C) Fixed cost 
D) Mixed cost B

Question 2

The purchase order originates with the:

Accepted Answer

A) Vendor 
B) Receiving department 
C) Purchasing department 
D) Manufacturing department needing the goods or services 
A) Vendor 
B) Receiving department 
C) Purchasing department 
D) Manufacturing department needing the goods or services C

Question 3

A linear regression analysis indicated a constant of 895.00,an X coefficient of 125.60,and an R-squared of 0.72.The dollar value of the dependent variable given an independent variable of 275 is:

Accepted Answer

A) $35,435 
B) $35,184 
C) $25,764 
D) $27,555 
A) $35,435 
B) $35,184 
C) $25,764 
D) $27,555 A

Question 4

Largo Company's highest and lowest monthly costs during the past year were $108,000 and $72,000,respectively.Activity levels were 5,000 hours and 3,000 hours,respectively.Determine Largo's cost formula.

Accepted Answer

A) Y=24.60(X)+ 36,000 
B) Y=21.60(X)+ 0 
C) Y=18(X)+ 18,000 
D) unable to determine from the information given 
A) Y=24.60(X)+ 36,000 
B) Y=21.60(X)+ 0 
C) Y=18(X)+ 18,000 
D) unable to determine from the information given

Question 5

Use the following to answer 
The Riga Manufacturing Company has kept track of the number of units they have produced each month and the cost to produce those units for the past 8 months
  
-Using regression determine the cost estimation equation and the R2 for the equation.If Riga expects to produce 8,500 units in February what cost should Riga budget for?

Accepted Answer

Slope = $3.85
Intercept = $13,

Question 6

The document listing the quantities of materials and parts needed by the production department is referred to as a:

Accepted Answer

A) Operations list 
B) Bill of lading 
C) Production order 
D) Materials requisition 
A) Operations list 
B) Bill of lading 
C) Production order 
D) Materials requisition

Question 7

Match between columns
                        Premises: Rent on manufacturing equipment.
Fees charged to customers based on hours spent repairing computer.
Supervisor’s salary
Material in each unit of product produced.
Sales commission paid by company
Company charges set fee for first 10 hours of service and the $50 per hour after the ten hours.
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).

Accepted Answer

The Answer of Variable Revenue and Variable Cost and Fixed is...

Question 8

In linear regression analysis,the dependent variable is:

Accepted Answer

A) Labeled X in the linear equation 
B) Referred to as the intercept 
C) The cost driver 
D) The total cost 
A) Labeled X in the linear equation 
B) Referred to as the intercept 
C) The cost driver 
D) The total cost

Question 9

Goods shipped from a seller's warehouse on Nov 10,2010,arrived at the buyer's warehouse on Nov 16,2010.The invoice for the goods arrived at the buyer's accounting
Department on Nov 13,2010 and was paid on Nov 20,2010.If the goods were sold FOB
Shipping point,the buyer took legal title on:

Accepted Answer

A) Nov 20,2010 
B) Nov 13,2010 
C) Nov 10,2010 
D) Nov 16,2010 
A) Nov 20,2010 
B) Nov 13,2010 
C) Nov 10,2010 
D) Nov 16,2010

Question 10

Use the following to answer 
The Riga Manufacturing Company has kept track of the number of units they have produced each month and the cost to produce those units for the past 8 months
  
-Using the information above calculate the cost estimation equation using the high/low method.If Riga expects to produced 8,500 units in Feb what cost should Riga budget for?

Accepted Answer

$70,000 - $27,000 = $43,000
15,000 - 4,0

Question 11

The formula for a fixed cost is:

Accepted Answer

A) Y = m(X)+ b where m is equal to 0. 
B) Y = m(X)+ b where m is equal to 1. 
C) Y = m(X)+ b 
D) Y = m(X)+ b(X) 
A) Y = m(X)+ b where m is equal to 0. 
B) Y = m(X)+ b where m is equal to 1. 
C) Y = m(X)+ b 
D) Y = m(X)+ b(X)

Question 12

Given the information below from a linear regression what is the X coefficient of the regression equation?

Accepted Answer

A) .50 
B) 3.00 
C) .75 
D) 1.00 
A) .50 
B) 3.00 
C) .75 
D) 1.00

Question 13

Shipping terms indicating that legal title passes to the buyer when goods arrive at the buyer's warehouse are:

Accepted Answer

A) FOB destination 
B) FOB shipping point 
C) FOB shipping invoice 
D) FOB purchase order 
A) FOB destination 
B) FOB shipping point 
C) FOB shipping invoice 
D) FOB purchase order

Question 14

A cost that increases in total but decreases per unit as the cost driver increase is a(n):

Accepted Answer

A) Activity cost 
B) Variable cost 
C) Fixed cost 
D) Mixed cost 
A) Activity cost 
B) Variable cost 
C) Fixed cost 
D) Mixed cost

Question 15

Carmen Corporation ordered materials from Bizet Manufacturing on November 1,2010,Bizet shipped the materials by barge on November 5 and the barge company notified Carmen on November 22,that the goods had arrived.Carmen picked up the materials on November 23.The terms of the sale are FOB destination.On what date should Carmen consider this a purchase?

Accepted Answer

A) November 1 
B) November 5 
C) November 22 
D) November 23 
A) November 1 
B) November 5 
C) November 22 
D) November 23

Question 16

Use the following to answer questions
The Tempo Manufacturing Company has kept track of the number of units they have produced each month and the cost to produce those units for the past 8 months
  
-Using regression determine the cost estimation equation and the R2 for the equation.If Tempo expects to produce 7,000 units in February what cost should Tempo budget for?

Accepted Answer

Slope = $5.66
Intercept = $2,2

Question 17

A sales invoice originates with the:

Accepted Answer

A) Vendor 
B) Purchasing Department 
C) Sales Department 
D) Accounting Department 
A) Vendor 
B) Purchasing Department 
C) Sales Department 
D) Accounting Department

Question 18

Explain why the cost estimation ratio of the high/low method differs from the regression method.Explain the role of the R2 when using regression to forecast cost? What will the manufacturing cost be if Tempo wants to produce 18,000 units?

Accepted Answer

The high/low method uses the two extreme

Question 19

Non Troppo Corporation has the following cost formula: Y=30(X)+ $250,000.If Non Troppo sells 7,000 units,what will its total cost be?

Accepted Answer

A) $210,000 
B) $250,000 
C) $460,000 
D) Unable to determine from the information given 
A) $210,000 
B) $250,000 
C) $460,000 
D) Unable to determine from the information given

Question 20

Which of the following is part of the conversion process?

Accepted Answer

A) Storing finished manufactured goods until they are sold 
B) Accepting orders for manufactured goods. 
C) Paying salaries for the sales personnel who sell the product 
D) Pay the freight to deliver the product to the customer 
A) Storing finished manufactured goods until they are sold 
B) Accepting orders for manufactured goods. 
C) Paying salaries for the sales personnel who sell the product 
D) Pay the freight to deliver the product to the customer

Y = m(X)is the formula for a(n):

The purchase order originates with the:

A linear regression analysis indicated a constant of 895.00,an X coefficient of 125.60,and an R-squared of 0.72.The dollar value of the dependent variable given an independent variable of 275 is:

Largo Company's highest and lowest monthly costs during the past year were $108,000 and $72,000,respectively.Activity levels were 5,000 hours and 3,000 hours,respectively.Determine Largo's cost formula.

The document listing the quantities of materials and parts needed by the production department is referred to as a:

In linear regression analysis,the dependent variable is:

Goods shipped from a seller's warehouse on Nov 10,2010,arrived at the buyer's warehouse on Nov 16,2010.The invoice for the goods arrived at the buyer's accounting Department on Nov 13,2010 and was paid on Nov 20,2010.If the goods were sold FOB Shipping point,the buyer took legal title on:

The formula for a fixed cost is:

Given the information below from a linear regression what is the X coefficient of the regression equation?

Shipping terms indicating that legal title passes to the buyer when goods arrive at the buyer's warehouse are:

A cost that increases in total but decreases per unit as the cost driver increase is a(n):

A sales invoice originates with the:

Explain why the cost estimation ratio of the high/low method differs from the regression method.Explain the role of the R² when using regression to forecast cost? What will the manufacturing cost be if Tempo wants to produce 18,000 units?

Non Troppo Corporation has the following cost formula: Y=30(X)+ $250,000.If Non Troppo sells 7,000 units,what will its total cost be?

Which of the following is part of the conversion process?

Accounting and Business

Business Processes and Accounting Information

Short-Term Decision Making

Strategic Planning Regarding Operating Processes

Planning, The Balanced Scorecard, and Budgeting

Accounting Information Systems

Purchasinghuman Resourcespayment Process: Recording and Evaluating Expenditure Process Activities

Recording and Evaluating Conversion Process Activities

Recording and Evaluating Revenue Process Activities

Time Value of Money

Planning Investments: Capital Budgeting

Planning Equity Financing

Planning Debt Financing

Recording and Evaluating Capital Resource Process Activities: Financing

Recording and Evaluating Capital Resource Process Activities: Investing

Company Performance: Profitability

Company Performance: Owners Equity and Financial Position

Company Performance: Cash Flows

Company Performance: Comprehensive Evaluation

Filters

Exam 3: Operating Processes: Planning and Control

Y = m(X)is the formula for a(n):

The purchase order originates with the:

A linear regression analysis indicated a constant of 895.00,an X coefficient of 125.60,and an R-squared of 0.72.The dollar value of the dependent variable given an independent variable of 275 is:

Largo Company's highest and lowest monthly costs during the past year were $108,000 and $72,000,respectively.Activity levels were 5,000 hours and 3,000 hours,respectively.Determine Largo's cost formula.

The document listing the quantities of materials and parts needed by the production department is referred to as a:

In linear regression analysis,the dependent variable is:

Goods shipped from a seller's warehouse on Nov 10,2010,arrived at the buyer's warehouse on Nov 16,2010.The invoice for the goods arrived at the buyer's accounting Department on Nov 13,2010 and was paid on Nov 20,2010.If the goods were sold FOB Shipping point,the buyer took legal title on:

The formula for a fixed cost is:

Given the information below from a linear regression what is the X coefficient of the regression equation?

Shipping terms indicating that legal title passes to the buyer when goods arrive at the buyer's warehouse are:

A cost that increases in total but decreases per unit as the cost driver increase is a(n):

A sales invoice originates with the:

Explain why the cost estimation ratio of the high/low method differs from the regression method.Explain the role of the R2 when using regression to forecast cost? What will the manufacturing cost be if Tempo wants to produce 18,000 units?

Non Troppo Corporation has the following cost formula: Y=30(X)+ $250,000.If Non Troppo sells 7,000 units,what will its total cost be?

Which of the following is part of the conversion process?

Accounting and Business

Business Processes and Accounting Information

Short-Term Decision Making

Strategic Planning Regarding Operating Processes

Planning, The Balanced Scorecard, and Budgeting

Accounting Information Systems

Purchasinghuman Resourcespayment Process: Recording and Evaluating Expenditure Process Activities

Recording and Evaluating Conversion Process Activities

Recording and Evaluating Revenue Process Activities

Time Value of Money

Planning Investments: Capital Budgeting

Planning Equity Financing

Planning Debt Financing

Recording and Evaluating Capital Resource Process Activities: Financing

Recording and Evaluating Capital Resource Process Activities: Investing

Company Performance: Profitability

Company Performance: Owners Equity and Financial Position

Company Performance: Cash Flows

Company Performance: Comprehensive Evaluation

Filters

Explain why the cost estimation ratio of the high/low method differs from the regression method.Explain the role of the R² when using regression to forecast cost? What will the manufacturing cost be if Tempo wants to produce 18,000 units?