ACCT 434 Advanced Cost Management Week 3 Quiz and Discussions

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ACCT 434 (Advanced Cost Management) Devry

 

Week 3

 

ACCT 434 Week 3 DQ 1 (Relevant Costs)

ACCT 434 Week 3 DQ 2 (Workout Room)

 

Week 3 Quiz

 

1-    (TCO 3) Dougherty Company employs 20 individuals.  Eight employees are paid $12 per hour and the rest are salaried employees paid $3,000 a month.  How would total costs of personnel be classified?

2-    (TCO 3) For January, the cost components of a picture frame include $0.35 for the glass, $0.65 for the wooden frame, and $0.80 for assembly.  The assembly desk and tools cost $400.  A total of 1,000 frames is expected to be produced in the coming year.  What cost function best represents these costs?

3-    (TCO 3) Which cost estimation method uses a formal mathematical method to develop cost functions based on past data?

4-    (TCO 3) Penny's TV and Appliance Store is a small company that has hired you to perform some management advisory services.  The following information pertains to 20X8 operations: Sales (2,000 televisions) $900,000; Cost of goods sold $400,000; Store manager's salary per year $70,000; Operating costs per year $157,000; Advertising and promotion per year $15,000; Commissions (4% of sales) $36,000.  What are the estimated total costs if Penny's expects to sell 3,000 units next year?

5-    (TCO 4) The formal process of choosing among alternatives is known as a(n)

6-    (TCO 4) When using the five-step decision process, which one of the following steps should be done last?

7-    (TCO 4) Sunk costs

8-    (TCO 4) Northwoods Incorporated manufactures rustic furniture.  The cost accounting system estimates manufacturing costs to be $90 per table, consisting of 80% variable costs and 20% fixed costs.  The company has surplus capacity available.  It is Northwoods' policy to add a 50% markup to full costs.  A large hotel chain is currently expanding and has decided to decorate all new hotels using the rustic style.  Northwoods is invited to submit a bid to the hotel chain.  What is the lowest price per unit Northwoods should bid on this long-term order?

9-    (TCO 5) Throughput contribution equals revenues minus

10- (TCO 5) A machine has been identified as a bottleneck and the source of the constraint for a manufacturing company that has multiple products and multiple machines.  One way the company can overcome the bottleneck is

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