Selected:

MGMT 312 FINAL EXAM (EMBRY)

$15.99

$15.99

Product Description MGMT 312 Final Review (EMBRY) 1. A company is currently operating at 80% capacity producing and 5,000 units. Current cost information relating to this production is shown in the table below. The company has been approached by a customer with a request for a 100-unit special order. What is the minimum per unit sales price that management would accept for this order if the company wishes to increase current profits? 2. A cost that cannot be avoided or changed because it arises from a past decision, and is irrelevant to future decisions, is called a(n): 3. Alpha Co. can produce a unit of Beta for the following costs: Direct material $8 Direct labor 24 Overhead 40 Total costs per unit $72 An outside supplier offers to provide Alpha with all the Beta units it needs at $60 per unit. If Alpha buys from the supplier, Alpha will still incur 40% of its overhead. Alpha should: 4. An opportunity cost: 5. Marcus processes four different products that can either be sold as is or processed further. Listed below are sales and additional cost data: Product Sales value with no further processing Additional processing cost Sales value after further processing Acta $1,350 $900 $2,700 Corda 450 225 630 Fando 900 450 1,800 Limo 90 45 180 Which product(s) should not be processed further? 6. Product A requires 5 machine hours per unit to be produced, Product B requires only 3 machine hours per unit, and the company’s productive capacity is limited to 240,000 machine hours. Product A sells for $16 per unit and has variable costs of $6 per unit. Product B sells for $12 per unit and has variable costs of $5 per unit. Assuming the company can sell as many units of either product as it produces, the company should: Produce only Product A. 7. When evaluating a special order, management should 8. Which of the following should be classified as production costs? 9.Which department is often responsible for the direct materials price variance? 10. The usual starting point for preparing a master budget is forecasting or estimating: 11. The usual budget period is: 12. The standard materials cost to produce 1 unit of Product M is 6 pounds of material at a standard price of $50 per pound. In manufacturing 8,000 units, 47,000 pounds of material were used at a cost of $51 per pound. What is the total direct material cost variance? 13. The practice of preparing budgets for each of several future periods and revising those budgets as each period is completed, adding a new budget each period so that the budgets always cover the same number of future periods, is called: 14. The most useful budget figures are developed: 15. The master budget includes: 16. The following company information is available for January: Direct materials used 2,600 feet @$52 per foot Standard costs for direct materials for January production 2,700 feet @ $50 per foot The direct material price variance is: 17. The difference between actual and standard cost caused by the difference between the actual quantity and the standard quantity is called the: 18. The difference between actual and standard cost caused by the difference between the actual price and the standard price is called the: 19. Operating budgets include all the following budgets except the: 20. Northern Company is preparing a cash budget for June. The company has $12,000 cash at the beginning of June and anticipates $30,000 in cash receipts and $34,500 in cash disbursements during June. Northern Company has an agreement with its bank to maintain a cash balance of at least $10,000. As of May 31, the company owes $15,000 to the bank. To maintain the $10,000 required balance, during June the company must: 21. Julia’s Candy Co. reports the following information from its sales account and sales budget: Sales May $105,000 June 93,000 Expected Sales July $90,000 August 110,000 September 120,000 Cash sales are normally 25% of total sales and all credit sales are e

MGMT 312 FINAL EXAM (EMBRY)

Reviews

There are no reviews yet.

Be the first to review “MGMT 312 FINAL EXAM (EMBRY)”

Your email address will not be published. Required fields are marked *

Close Menu
×
×

Cart