Deck 3: Operating Processes: Planning and Control

ملء الشاشة (f)
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سؤال
A sales invoice originates with the:

A)Vendor
B)Purchasing Department
C)Sales Department
D)Accounting Department
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لقلب البطاقة.
سؤال
The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available. <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)  <div style=padding-top: 35px>

A) <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)  <div style=padding-top: 35px>
B) <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)  <div style=padding-top: 35px>
C) <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)  <div style=padding-top: 35px>
D)<strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)  <div style=padding-top: 35px>
سؤال
Which of the following is not part of the revenue process?

A)Receive and accept order for goods and services
B)Receive goods and services
C)Receive payments for goods and services rendered
D)Provide customer support
سؤال
Which of the following would not be collected from the customer when an order is received?

A)Type of inventory ordered
B)Name of common carrier that will deliver the goods
C)Price Quoted
D)Delivery Date
E)All of the above will be collected
سؤال
Which of the following would not be collected from the customer when an order is received?

A)Price Quoted
B)Amount and type of inventory ordered
C)Sellers cost of the product
D)Delivery Date
E)All of the above will be collected
سؤال
A document sent by the purchasing department to order a specific quantity of goods or services is called a:

A)Vendor invoice
B)Purchasing report
C)Purchase order
D)Purchase requisition
سؤال
The Quinter Corporation ordered material for its manufacturing process with a price of $75,000 and that had terms of 1/10 net/30.What is the lowest amount of cash Quinter will have to pay if it meets the terms of the discount agreement?

A)$67,500
B)$75,000
C)$74,250
D)$52,500
سؤال
Which of the following is part of the revenue process?

A)Provide customer support
B)Pay suppliers for inventory
C)Convert raw material into inventory for sale
D)Order inventory for resale
سؤال
Decatron,Inc.purchased $76,500 of parts from a vendor who offered credit terms of 3/15,n/45.If Decatron takes advantage of the discount,the amount paid to the vendor (rounded to the nearest dollar)will be:

A)$74,205
B)$76,500
C)$76,271
D)cannot be determined from the information given
سؤال
Veta Corporation purchased $14,650 in supplies from a vendor offering credit terms of 2/10,n/30.If Veta takes advantage of the discount,the amount paid to the vendor (rounded to the nearest dollar)will be:

A)$14,650
B)$14,621
C)$14,357
D)$13,185
سؤال
Determining the credit and payment policies for customers is part of the:

A)Revenue process
B)Collection process
C)Expenditure process
D)Conversion Process
سؤال
Determining the company's needs for goods and services is associated with which of the following processes?

A)Revenue process
B)Expenditure process
C)Conversion process
D)Evaluation process
سؤال
Selecting suppliers for a company's goods and services is part of the:

A)Revenue process
B)Expenditure process
C)Selection process
D)Conversion process
سؤال
Which of the following is not part of the expenditure process?

A)Receiving goods and services
B)Paying suppliers
C)Ordering goods and services
D)Using equipment to manufacture products
سؤال
Which of the following is not information that a company should collect from a customer when it receive an order?

A)Address
B)Inventory ordered
C)Credit information
D)How goods will reach the customer
E)All of the above should be collected
سؤال
Delivery of goods is associated with which of the following process?

A)Revenue process
B)Expenditure process
C)Conversion process
D)Evaluation process
سؤال
Which of the following is not part of the conversion process?

A)Machine set ups.
B)Paying for the raw material used in production.
C)Storing the raw material used in production.
D)Storing finished manufactured goods until sold
سؤال
Which of the following is part of the conversion process?

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
سؤال
Norton Corporation has purchased raw materials from a vendor and was offered credit terms of 2/10,n/30.Which of the following reflects these terms?

A)20% discount (2/10)if paid within 30 days
B)2% discount if paid within 10 days
C)10% discount if paid within 30 days and 2% after 30 days
D)2% discount if paid between 10 and 30 days.
سؤال
Manufacturing products is associated with which of the following processes?

A)Revenue process
B)Expenditure process
C)Conversion process
D)Evaluation process
سؤال
Y = m(X)is the formula for a(n):

A)Activity cost
B)Variable cost
C)Fixed cost
D)Mixed cost
سؤال
Which of the following is not a fixed cost?

A)President's salary
B)Supervisor's salary
C)Monthly rent of factory equipment
D)Utility cost
سؤال
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?

A)November 1
B)November 5
C)November 22
D)November 23
سؤال
A linear regression analysis indicated a constant of 6,025.50,an X coefficient of 24.75,and an R-squared of 0.65.The estimated cost when the independent variable is 350 is:

A)$55,386
B)$14,688
C)$11,657
D)$10,629
سؤال
The document listing the quantities of materials and parts needed by the production department is referred to as a:

A)Operations list
B)Bill of lading
C)Production order
D)Materials requisition
سؤال
Goods shipped from a seller's warehouse on June 10,2010,arrived at the buyer's warehouse on June 16,2010.The invoice for the goods arrived at the buyer's accounting department on June 13,2010 and was paid on June 20,2010.If the goods were sold FOB destination,the buyer took legal title on:

A)June 20,2008
B)June 13,2008
C)June 10,2008
D)June 16,2008
سؤال
Goods shipped from a seller's warehouse on April 10 using the terms FOB Shipping Point.On the way to the buyer's warehouse the truck hauling the goods wrecked and the
Goods were destroyed.Who will get the insurance check covering the loss?

A)The seller
B)The buyer
C)The seller and buyer split the loss.
D)The delivery company.
سؤال
The formula for a fixed cost is:

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)
سؤال
In linear regression analysis,the dependent variable is:

A)Labeled X in the linear equation
B)Referred to as the intercept
C)The cost driver
D)The total cost
سؤال
A cost that is constant per unit but varies in total is called a(n):

A)Activity cost
B)Variable cost
C)Fixed cost
D)Mixed cost
سؤال
Use the following to answer questions
The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:
<strong>Use the following to answer questions The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:   The variable housekeeping cost per room rental is:</strong> A)$14.36 B)$10.13 C)$ 9.06 D)$ 9.00 <div style=padding-top: 35px>
The variable housekeeping cost per room rental is:

A)$14.36
B)$10.13
C)$ 9.06
D)$ 9.00
سؤال
The purchase order originates with the:

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

A)$35,435
B)$35,184
C)$25,764
D)$27,555
سؤال
A cost that increases in total but decreases per unit as the cost driver increase is a(n):

A)Activity cost
B)Variable cost
C)Fixed cost
D)Mixed cost
سؤال
FOB shipping point indicates that goods in transit belong to the:

A)Seller
B)Buyer
C)Common carrier
D)either the buyer or seller depending upon the terms of the bill of lading
سؤال
The formula for a mixed cost is:

A)Y = b
B)Y = m(X)
C)Y = m(X)+ b
D)Y = m(X)+ b(X)
سؤال
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:

A)Nov 20,2010
B)Nov 13,2010
C)Nov 10,2010
D)Nov 16,2010
سؤال
Shipping terms indicating that legal title passes to the buyer when goods arrive at the buyer's warehouse are:

A)FOB destination
B)FOB shipping point
C)FOB shipping invoice
D)FOB purchase order
سؤال
Which of the following is not a variable cost?

A)Sales Commission
B)Material used to produce product
C)Salary of product inspectors
D)Cost of packaging product
سؤال
Tri-State Corporation ordered materials from Down-State Manufacturing on October 1,2006.Down-State shipped the materials by rail on October 5 and the railroad notified Tri-State on October 12,that the goods had arrived.Tri-State picked up the materials on October 13.The terms of the sale are FOB shipping point.On what date should Tri-State consider this a purchase?

A)October 1
B)October 5
C)October 12
D)October 13
سؤال
Contrast the conversion process with the revenue/expenditure process.
سؤال
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?
سؤال
The accounting department at Alaska Enterprises,Inc.is running low on office supplies.The accounting manager has asked you to obtain additional supplies.Describe all the steps necessary to arrange for the acquisition and payment for the supplies.Identify all documents that would be utilized during this process,as well as the person or department that would prepare the document.
سؤال
Use the following to answer questions
The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:
<strong>Use the following to answer questions The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:   The fixed housekeeping cost per month is:</strong> A)$7,750 B)$7,830 C)$7,882 D)$8,813 <div style=padding-top: 35px>
The fixed housekeeping cost per month is:

A)$7,750
B)$7,830
C)$7,882
D)$8,813
سؤال
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
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 the information above calculate the cost estimation equation using the high/low method.If Tempo expects to produce 7,000 units in Feb what cost should Tempo budget for?<div style=padding-top: 35px>
Using the information above calculate the cost estimation equation using the high/low
method.If Tempo expects to produce 7,000 units in Feb what cost should Tempo budget
for?
سؤال
Define the following terms as they relate to cost behavior,draw their graphical representation,and give an example of each: (1)fixed cost,(2)variable cost,and (3)mixed cost.
سؤال
Use the following to answer questions
Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:
<strong>Use the following to answer questions Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:   The cost equation is:</strong> A)Y = $4.35X + $1,457.80 B)Y = ($4.35 + $.23)X - $.76Z C)$1,457.80 = $4.35X + $.76Y D)$4.35Y = ($.23 + $.76)X - $1,457.80 <div style=padding-top: 35px>
The cost equation is:

A)Y = $4.35X + $1,457.80
B)Y = ($4.35 + $.23)X - $.76Z
C)$1,457.80 = $4.35X + $.76Y
D)$4.35Y = ($.23 + $.76)X - $1,457.80
سؤال
The customer service department at Mall Mart gathered the following data for the first six months of its fiscal year:
<strong>The customer service department at Mall Mart gathered the following data for the first six months of its fiscal year:   Using the high/low estimation method:</strong> A)Determine the cost estimation equation. b)Estimate the total department costs during a month where 18,500 customers are serviced. c)Estimate the total department cost during a month where 35,000 customers are serviced. <div style=padding-top: 35px> Using the high/low estimation method:

A)Determine the cost estimation equation.
b)Estimate the total department costs during a month where 18,500
customers are serviced.
c)Estimate the total department cost during a month where 35,000 customers are
serviced.
سؤال
Use the following to answer questions
The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:
<strong>Use the following to answer questions The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:   The estimated total housekeeping cost for a month with 1,400 room rentals is:</strong> A)$22,012 B)$21,740 C)$20,350 D)$15,715 <div style=padding-top: 35px>
The estimated total housekeeping cost for a month with 1,400 room rentals is:

A)$22,012
B)$21,740
C)$20,350
D)$15,715
سؤال
Which of the following activity bases would be the best cost driver for flour costs for a pizzeria?

A)Number of customers
B)Hours of operation
C)Number of employees
D)Number of pizzas
سؤال
The following is from a linear regression analysis,what is the constant in the cost
equation?
<strong>The following is from a linear regression analysis,what is the constant in the cost equation?   </strong> A)$9,500 B)$4,500 C)$2,714 D)$9,980 <div style=padding-top: 35px>

A)$9,500
B)$4,500
C)$2,714
D)$9,980
سؤال
Which of the follow statements is true about a regression's r2?

A)The greater the r2 the greater the relationship between the independent and dependant variable.
B)An r2 that is greater than 1 means that there is more than a 100 percent relationship between the independent and dependant variable.
C)When a r2 has a negative value the independent variable is inversely related to the dependent variable.
D)When a r2 is less than 1 the greater the inverse relationship between the independent and dependant variables.
سؤال
Describe the effect of an increase in activity,within the relevant range,on variable and fixed cost
سؤال
The "I Can't Believe It's Yogurt" shop sells only yogurt and only in cups.Which of the following would be a variable cost if number of customers is the cost driver?

A)Rent on the shop
B)Wages
C)Spoons
D)Electricity
سؤال
Explain why it is inappropriate to calculate the cost of an expected activity (using a cost
formula generated by either the High/Low method or linear regression)that is outside the
relevant range of activity.
سؤال
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?

A)$210,000
B)$250,000
C)$460,000
D)Unable to determine from the information given
سؤال
Given the information below from a linear regression what is the X coefficient of the regression equation?
<strong>Given the information below from a linear regression what is the X coefficient of the regression equation?  </strong> A).50 B)3.00 C).75 D)1.00 <div style=padding-top: 35px>

A).50
B)3.00
C).75
D)1.00
سؤال
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
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 R<sup>2</sup> for the equation.If Tempo expects to produce 7,000 units in February what cost should Tempo budget for?<div style=padding-top: 35px>
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?
سؤال
Use the following to answer questions
Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:
<strong>Use the following to answer questions Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:   The cost of operating the concession stand for a month in which the concession services 250 customers is estimated at:</strong> A)$2,792.80 B)$2,602.80 C)$2,545.30 D)$ 627.20 <div style=padding-top: 35px>
The cost of operating the concession stand for a month in which the concession services 250 customers is estimated at:

A)$2,792.80
B)$2,602.80
C)$2,545.30
D)$ 627.20
سؤال
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.

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
سؤال
Match between columns
Rent on manufacturing equipment.
Mixed Revenue
Rent on manufacturing equipment.
Variable Cost
Rent on manufacturing equipment.
Fixed Cost
Rent on manufacturing equipment.
Variable Revenue
Rent on manufacturing equipment.
Fixed Revenue
Rent on manufacturing equipment.
Mixed Cost
Fees charged to customers based on hours spent repairing computer.
Mixed Revenue
Fees charged to customers based on hours spent repairing computer.
Variable Cost
Fees charged to customers based on hours spent repairing computer.
Fixed Cost
Fees charged to customers based on hours spent repairing computer.
Variable Revenue
Fees charged to customers based on hours spent repairing computer.
Fixed Revenue
Fees charged to customers based on hours spent repairing computer.
Mixed Cost
Sales commission paid by company
Mixed Revenue
Sales commission paid by company
Variable Cost
Sales commission paid by company
Fixed Cost
Sales commission paid by company
Variable Revenue
Sales commission paid by company
Fixed Revenue
Sales commission paid by company
Mixed Cost
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Mixed Revenue
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Variable Cost
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Fixed Cost
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Variable Revenue
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Fixed Revenue
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Mixed Cost
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Mixed Revenue
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Variable Cost
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Fixed Cost
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Variable Revenue
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Fixed Revenue
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Mixed Cost
Mixed Revenue
Variable Cost
Fixed Cost
Variable Revenue
Fixed Revenue
Mixed Cost
Mixed Revenue
Variable Cost
Fixed Cost
Variable Revenue
Fixed Revenue
Mixed Cost
Mixed Revenue
Variable Cost
Fixed Cost
Variable Revenue
Fixed Revenue
Mixed Cost
سؤال
Match between columns
Shipping document that describes agreement between business and common carrier.
Sales Allowances
Shipping document that describes agreement between business and common carrier.
Bill of Lading
Shipping document that describes agreement between business and common carrier.
Manufacturing Overhead
Shipping document that describes agreement between business and common carrier.
FOB Destination
Shipping document that describes agreement between business and common carrier.
Cells
Shipping document that describes agreement between business and common carrier.
Direct Material
Shipping document that describes agreement between business and common carrier.
Purchase Returns
Shipping document that describes agreement between business and common carrier.
Machine Set Ups
Shipping document that describes agreement between business and common carrier.
Direct Labor
Shipping document that describes agreement between business and common carrier.
Purchase Allowances
Shipping document that describes agreement between business and common carrier.
FOB Shipping Point
Shipping document that describes agreement between business and common carrier.
Purchase Discounts
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Sales Allowances
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Bill of Lading
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Manufacturing Overhead
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
FOB Destination
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Cells
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Direct Material
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Purchase Returns
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Machine Set Ups
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Direct Labor
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Purchase Allowances
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
FOB Shipping Point
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Purchase Discounts
Adjustments made to machines in preparation for new production run.
Sales Allowances
Adjustments made to machines in preparation for new production run.
Bill of Lading
Adjustments made to machines in preparation for new production run.
Manufacturing Overhead
Adjustments made to machines in preparation for new production run.
FOB Destination
Adjustments made to machines in preparation for new production run.
Cells
Adjustments made to machines in preparation for new production run.
Direct Material
Adjustments made to machines in preparation for new production run.
Purchase Returns
Adjustments made to machines in preparation for new production run.
Machine Set Ups
Adjustments made to machines in preparation for new production run.
Direct Labor
Adjustments made to machines in preparation for new production run.
Purchase Allowances
Adjustments made to machines in preparation for new production run.
FOB Shipping Point
Adjustments made to machines in preparation for new production run.
Purchase Discounts
Cost of salaries for workers who actually manufacture the product.
Sales Allowances
Cost of salaries for workers who actually manufacture the product.
Bill of Lading
Cost of salaries for workers who actually manufacture the product.
Manufacturing Overhead
Cost of salaries for workers who actually manufacture the product.
FOB Destination
Cost of salaries for workers who actually manufacture the product.
Cells
Cost of salaries for workers who actually manufacture the product.
Direct Material
Cost of salaries for workers who actually manufacture the product.
Purchase Returns
Cost of salaries for workers who actually manufacture the product.
Machine Set Ups
Cost of salaries for workers who actually manufacture the product.
Direct Labor
Cost of salaries for workers who actually manufacture the product.
Purchase Allowances
Cost of salaries for workers who actually manufacture the product.
FOB Shipping Point
Cost of salaries for workers who actually manufacture the product.
Purchase Discounts
Discounts given to unhappy customers by seller (seller books).
Sales Allowances
Discounts given to unhappy customers by seller (seller books).
Bill of Lading
Discounts given to unhappy customers by seller (seller books).
Manufacturing Overhead
Discounts given to unhappy customers by seller (seller books).
FOB Destination
Discounts given to unhappy customers by seller (seller books).
Cells
Discounts given to unhappy customers by seller (seller books).
Direct Material
Discounts given to unhappy customers by seller (seller books).
Purchase Returns
Discounts given to unhappy customers by seller (seller books).
Machine Set Ups
Discounts given to unhappy customers by seller (seller books).
Direct Labor
Discounts given to unhappy customers by seller (seller books).
Purchase Allowances
Discounts given to unhappy customers by seller (seller books).
FOB Shipping Point
Discounts given to unhappy customers by seller (seller books).
Purchase Discounts
Manufacturing cost not directly associated with the production of a product.
Sales Allowances
Manufacturing cost not directly associated with the production of a product.
Bill of Lading
Manufacturing cost not directly associated with the production of a product.
Manufacturing Overhead
Manufacturing cost not directly associated with the production of a product.
FOB Destination
Manufacturing cost not directly associated with the production of a product.
Cells
Manufacturing cost not directly associated with the production of a product.
Direct Material
Manufacturing cost not directly associated with the production of a product.
Purchase Returns
Manufacturing cost not directly associated with the production of a product.
Machine Set Ups
Manufacturing cost not directly associated with the production of a product.
Direct Labor
Manufacturing cost not directly associated with the production of a product.
Purchase Allowances
Manufacturing cost not directly associated with the production of a product.
FOB Shipping Point
Manufacturing cost not directly associated with the production of a product.
Purchase Discounts
A group of machines arranged to reduce travel time of product between machines.
Sales Allowances
A group of machines arranged to reduce travel time of product between machines.
Bill of Lading
A group of machines arranged to reduce travel time of product between machines.
Manufacturing Overhead
A group of machines arranged to reduce travel time of product between machines.
FOB Destination
A group of machines arranged to reduce travel time of product between machines.
Cells
A group of machines arranged to reduce travel time of product between machines.
Direct Material
A group of machines arranged to reduce travel time of product between machines.
Purchase Returns
A group of machines arranged to reduce travel time of product between machines.
Machine Set Ups
A group of machines arranged to reduce travel time of product between machines.
Direct Labor
A group of machines arranged to reduce travel time of product between machines.
Purchase Allowances
A group of machines arranged to reduce travel time of product between machines.
FOB Shipping Point
A group of machines arranged to reduce travel time of product between machines.
Purchase Discounts
Goods return by buyer on buyer's books.
Sales Allowances
Goods return by buyer on buyer's books.
Bill of Lading
Goods return by buyer on buyer's books.
Manufacturing Overhead
Goods return by buyer on buyer's books.
FOB Destination
Goods return by buyer on buyer's books.
Cells
Goods return by buyer on buyer's books.
Direct Material
Goods return by buyer on buyer's books.
Purchase Returns
Goods return by buyer on buyer's books.
Machine Set Ups
Goods return by buyer on buyer's books.
Direct Labor
Goods return by buyer on buyer's books.
Purchase Allowances
Goods return by buyer on buyer's books.
FOB Shipping Point
Goods return by buyer on buyer's books.
Purchase Discounts
Legal title transfers to customer when goods are received.
Sales Allowances
Legal title transfers to customer when goods are received.
Bill of Lading
Legal title transfers to customer when goods are received.
Manufacturing Overhead
Legal title transfers to customer when goods are received.
FOB Destination
Legal title transfers to customer when goods are received.
Cells
Legal title transfers to customer when goods are received.
Direct Material
Legal title transfers to customer when goods are received.
Purchase Returns
Legal title transfers to customer when goods are received.
Machine Set Ups
Legal title transfers to customer when goods are received.
Direct Labor
Legal title transfers to customer when goods are received.
Purchase Allowances
Legal title transfers to customer when goods are received.
FOB Shipping Point
Legal title transfers to customer when goods are received.
Purchase Discounts
Discount given buyer for paying amount due early.
Sales Allowances
Discount given buyer for paying amount due early.
Bill of Lading
Discount given buyer for paying amount due early.
Manufacturing Overhead
Discount given buyer for paying amount due early.
FOB Destination
Discount given buyer for paying amount due early.
Cells
Discount given buyer for paying amount due early.
Direct Material
Discount given buyer for paying amount due early.
Purchase Returns
Discount given buyer for paying amount due early.
Machine Set Ups
Discount given buyer for paying amount due early.
Direct Labor
Discount given buyer for paying amount due early.
Purchase Allowances
Discount given buyer for paying amount due early.
FOB Shipping Point
Discount given buyer for paying amount due early.
Purchase Discounts
Crude oil purchased to produce gasoline.
Sales Allowances
Crude oil purchased to produce gasoline.
Bill of Lading
Crude oil purchased to produce gasoline.
Manufacturing Overhead
Crude oil purchased to produce gasoline.
FOB Destination
Crude oil purchased to produce gasoline.
Cells
Crude oil purchased to produce gasoline.
Direct Material
Crude oil purchased to produce gasoline.
Purchase Returns
Crude oil purchased to produce gasoline.
Machine Set Ups
Crude oil purchased to produce gasoline.
Direct Labor
Crude oil purchased to produce gasoline.
Purchase Allowances
Crude oil purchased to produce gasoline.
FOB Shipping Point
Crude oil purchased to produce gasoline.
Purchase Discounts
Legal title transfers when goods leave the seller's place of business.
Sales Allowances
Legal title transfers when goods leave the seller's place of business.
Bill of Lading
Legal title transfers when goods leave the seller's place of business.
Manufacturing Overhead
Legal title transfers when goods leave the seller's place of business.
FOB Destination
Legal title transfers when goods leave the seller's place of business.
Cells
Legal title transfers when goods leave the seller's place of business.
Direct Material
Legal title transfers when goods leave the seller's place of business.
Purchase Returns
Legal title transfers when goods leave the seller's place of business.
Machine Set Ups
Legal title transfers when goods leave the seller's place of business.
Direct Labor
Legal title transfers when goods leave the seller's place of business.
Purchase Allowances
Legal title transfers when goods leave the seller's place of business.
FOB Shipping Point
Legal title transfers when goods leave the seller's place of business.
Purchase Discounts
سؤال
Match between columns
Measures the amount of correlation between the independent and dependent variable.
R Square
Measures the amount of correlation between the independent and dependent variable.
Standard Error
Measures the amount of correlation between the independent and dependent variable.
Independent Variable
Measures the amount of correlation between the independent and dependent variable.
Relevant Range
Measures the amount of correlation between the independent and dependent variable.
Dependent Variable
Measures the amount of correlation between the independent and dependent variable.
T Statistic
Measures the variability around the mean.
R Square
Measures the variability around the mean.
Standard Error
Measures the variability around the mean.
Independent Variable
Measures the variability around the mean.
Relevant Range
Measures the variability around the mean.
Dependent Variable
Measures the variability around the mean.
T Statistic
The total cost that is the result of some activity.
R Square
The total cost that is the result of some activity.
Standard Error
The total cost that is the result of some activity.
Independent Variable
The total cost that is the result of some activity.
Relevant Range
The total cost that is the result of some activity.
Dependent Variable
The total cost that is the result of some activity.
T Statistic
Creates the change in the cost of an activity.
R Square
Creates the change in the cost of an activity.
Standard Error
Creates the change in the cost of an activity.
Independent Variable
Creates the change in the cost of an activity.
Relevant Range
Creates the change in the cost of an activity.
Dependent Variable
Creates the change in the cost of an activity.
T Statistic
Measures the significance of the regression slope.
R Square
Measures the significance of the regression slope.
Standard Error
Measures the significance of the regression slope.
Independent Variable
Measures the significance of the regression slope.
Relevant Range
Measures the significance of the regression slope.
Dependent Variable
Measures the significance of the regression slope.
T Statistic
A span of activity that is normal for a company.
R Square
A span of activity that is normal for a company.
Standard Error
A span of activity that is normal for a company.
Independent Variable
A span of activity that is normal for a company.
Relevant Range
A span of activity that is normal for a company.
Dependent Variable
A span of activity that is normal for a company.
T Statistic
سؤال
Create your own data set that reflects an activity and its related cost.You must explain the basis of the relationship represented by the data.
Required:
Calculate a cost estimation ratio using the High/Low method
Calculate a cost estimation ratio and R2 using the regression method.
سؤال
The Pacioli 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 6 months.
Using regression determine the cost estimation equation and the R2 for the equation.If Pacioli expects to produce 14,000 units in January what cost should Pacioli budget for? How does the R2 help when forecasting cost and what impact does this R2 have on this estimate?
The Pacioli 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 6 months. Using regression determine the cost estimation equation and the R<sup>2</sup> for the equation.If Pacioli expects to produce 14,000 units in January what cost should Pacioli budget for? How does the R<sup>2</sup> help when forecasting cost and what impact does this R<sup>2</sup> have on this estimate?  <div style=padding-top: 35px>
سؤال
Match between columns
Basis that reflects the consumption or provision of resources
Independent Variable
Basis that reflects the consumption or provision of resources
Activity Driver
Basis that reflects the consumption or provision of resources
Dependent Variable
Basis that reflects the consumption or provision of resources
Variable Cost
Basis that reflects the consumption or provision of resources
Relevant Range
X variable
Independent Variable
X variable
Activity Driver
X variable
Dependent Variable
X variable
Variable Cost
X variable
Relevant Range
Y Variable
Independent Variable
Y Variable
Activity Driver
Y Variable
Dependent Variable
Y Variable
Variable Cost
Y Variable
Relevant Range
A span of activity that is normal for a company.
Independent Variable
A span of activity that is normal for a company.
Activity Driver
A span of activity that is normal for a company.
Dependent Variable
A span of activity that is normal for a company.
Variable Cost
A span of activity that is normal for a company.
Relevant Range
A cost that changes in direct proportion to an activity
Independent Variable
A cost that changes in direct proportion to an activity
Activity Driver
A cost that changes in direct proportion to an activity
Dependent Variable
A cost that changes in direct proportion to an activity
Variable Cost
A cost that changes in direct proportion to an activity
Relevant Range
Independent Variable
Activity Driver
Dependent Variable
Variable Cost
Relevant Range
Independent Variable
Activity Driver
Dependent Variable
Variable Cost
Relevant Range
سؤال
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
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?<div style=padding-top: 35px>
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?
سؤال
Match between columns
The span of operating activity that is considered normal for a company.
Variable Revenue
The span of operating activity that is considered normal for a company.
Activity Driver
The span of operating activity that is considered normal for a company.
Cost Behavior
The span of operating activity that is considered normal for a company.
Fixed Cost
The span of operating activity that is considered normal for a company.
Mixed Cost
The span of operating activity that is considered normal for a company.
Relevant Range
The span of operating activity that is considered normal for a company.
Revenue Behavior
The span of operating activity that is considered normal for a company.
Variable Cost
The span of operating activity that is considered normal for a company.
Mixed Revenue
The span of operating activity that is considered normal for a company.
Fixed Revenue
A revenue that changes in direct proportion to the change in activity.
Variable Revenue
A revenue that changes in direct proportion to the change in activity.
Activity Driver
A revenue that changes in direct proportion to the change in activity.
Cost Behavior
A revenue that changes in direct proportion to the change in activity.
Fixed Cost
A revenue that changes in direct proportion to the change in activity.
Mixed Cost
A revenue that changes in direct proportion to the change in activity.
Relevant Range
A revenue that changes in direct proportion to the change in activity.
Revenue Behavior
A revenue that changes in direct proportion to the change in activity.
Variable Cost
A revenue that changes in direct proportion to the change in activity.
Mixed Revenue
A revenue that changes in direct proportion to the change in activity.
Fixed Revenue
How a cost reacts to change in the level of operating activity
Variable Revenue
How a cost reacts to change in the level of operating activity
Activity Driver
How a cost reacts to change in the level of operating activity
Cost Behavior
How a cost reacts to change in the level of operating activity
Fixed Cost
How a cost reacts to change in the level of operating activity
Mixed Cost
How a cost reacts to change in the level of operating activity
Relevant Range
How a cost reacts to change in the level of operating activity
Revenue Behavior
How a cost reacts to change in the level of operating activity
Variable Cost
How a cost reacts to change in the level of operating activity
Mixed Revenue
How a cost reacts to change in the level of operating activity
Fixed Revenue
A cost that does not change in total as the amount of activity changes
Variable Revenue
A cost that does not change in total as the amount of activity changes
Activity Driver
A cost that does not change in total as the amount of activity changes
Cost Behavior
A cost that does not change in total as the amount of activity changes
Fixed Cost
A cost that does not change in total as the amount of activity changes
Mixed Cost
A cost that does not change in total as the amount of activity changes
Relevant Range
A cost that does not change in total as the amount of activity changes
Revenue Behavior
A cost that does not change in total as the amount of activity changes
Variable Cost
A cost that does not change in total as the amount of activity changes
Mixed Revenue
A cost that does not change in total as the amount of activity changes
Fixed Revenue
A cost that changes in direct proportion to the change in activity.
Variable Revenue
A cost that changes in direct proportion to the change in activity.
Activity Driver
A cost that changes in direct proportion to the change in activity.
Cost Behavior
A cost that changes in direct proportion to the change in activity.
Fixed Cost
A cost that changes in direct proportion to the change in activity.
Mixed Cost
A cost that changes in direct proportion to the change in activity.
Relevant Range
A cost that changes in direct proportion to the change in activity.
Revenue Behavior
A cost that changes in direct proportion to the change in activity.
Variable Cost
A cost that changes in direct proportion to the change in activity.
Mixed Revenue
A cost that changes in direct proportion to the change in activity.
Fixed Revenue
Basis that reflect the consumption or provision of resources.
Variable Revenue
Basis that reflect the consumption or provision of resources.
Activity Driver
Basis that reflect the consumption or provision of resources.
Cost Behavior
Basis that reflect the consumption or provision of resources.
Fixed Cost
Basis that reflect the consumption or provision of resources.
Mixed Cost
Basis that reflect the consumption or provision of resources.
Relevant Range
Basis that reflect the consumption or provision of resources.
Revenue Behavior
Basis that reflect the consumption or provision of resources.
Variable Cost
Basis that reflect the consumption or provision of resources.
Mixed Revenue
Basis that reflect the consumption or provision of resources.
Fixed Revenue
A revenue that changes, but not proportionately, to a change in activity.
Variable Revenue
A revenue that changes, but not proportionately, to a change in activity.
Activity Driver
A revenue that changes, but not proportionately, to a change in activity.
Cost Behavior
A revenue that changes, but not proportionately, to a change in activity.
Fixed Cost
A revenue that changes, but not proportionately, to a change in activity.
Mixed Cost
A revenue that changes, but not proportionately, to a change in activity.
Relevant Range
A revenue that changes, but not proportionately, to a change in activity.
Revenue Behavior
A revenue that changes, but not proportionately, to a change in activity.
Variable Cost
A revenue that changes, but not proportionately, to a change in activity.
Mixed Revenue
A revenue that changes, but not proportionately, to a change in activity.
Fixed Revenue
A cost that varies, but not proportionately, to a change in activity.
Variable Revenue
A cost that varies, but not proportionately, to a change in activity.
Activity Driver
A cost that varies, but not proportionately, to a change in activity.
Cost Behavior
A cost that varies, but not proportionately, to a change in activity.
Fixed Cost
A cost that varies, but not proportionately, to a change in activity.
Mixed Cost
A cost that varies, but not proportionately, to a change in activity.
Relevant Range
A cost that varies, but not proportionately, to a change in activity.
Revenue Behavior
A cost that varies, but not proportionately, to a change in activity.
Variable Cost
A cost that varies, but not proportionately, to a change in activity.
Mixed Revenue
A cost that varies, but not proportionately, to a change in activity.
Fixed Revenue
How a revenue reacts to a change in the level of operating activity.
Variable Revenue
How a revenue reacts to a change in the level of operating activity.
Activity Driver
How a revenue reacts to a change in the level of operating activity.
Cost Behavior
How a revenue reacts to a change in the level of operating activity.
Fixed Cost
How a revenue reacts to a change in the level of operating activity.
Mixed Cost
How a revenue reacts to a change in the level of operating activity.
Relevant Range
How a revenue reacts to a change in the level of operating activity.
Revenue Behavior
How a revenue reacts to a change in the level of operating activity.
Variable Cost
How a revenue reacts to a change in the level of operating activity.
Mixed Revenue
How a revenue reacts to a change in the level of operating activity.
Fixed Revenue
A revenue that does not change in total as activity changes.
Variable Revenue
A revenue that does not change in total as activity changes.
Activity Driver
A revenue that does not change in total as activity changes.
Cost Behavior
A revenue that does not change in total as activity changes.
Fixed Cost
A revenue that does not change in total as activity changes.
Mixed Cost
A revenue that does not change in total as activity changes.
Relevant Range
A revenue that does not change in total as activity changes.
Revenue Behavior
A revenue that does not change in total as activity changes.
Variable Cost
A revenue that does not change in total as activity changes.
Mixed Revenue
A revenue that does not change in total as activity changes.
Fixed Revenue
سؤال
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
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 R<sup>2</sup> for the equation.If Riga expects to produce 8,500 units in February what cost should Riga budget for?<div style=padding-top: 35px>
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?
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ملء الشاشة (f)
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Deck 3: Operating Processes: Planning and Control
1
A sales invoice originates with the:

A)Vendor
B)Purchasing Department
C)Sales Department
D)Accounting Department
Sales Department
2
The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available. <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)

A) <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)
B) <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)
C) <strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)
D)<strong>The Banner Company ordered $50,000 of fertilizer from Farmland Industries and were given terms of 2/15 net/60.Which of the following describes how soon the payment must be made in order to receive a discount and the amount of the discount available.  </strong> A)   B)   C)   D)
3
Which of the following is not part of the revenue process?

A)Receive and accept order for goods and services
B)Receive goods and services
C)Receive payments for goods and services rendered
D)Provide customer support
Receive goods and services
4
Which of the following would not be collected from the customer when an order is received?

A)Type of inventory ordered
B)Name of common carrier that will deliver the goods
C)Price Quoted
D)Delivery Date
E)All of the above will be collected
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5
Which of the following would not be collected from the customer when an order is received?

A)Price Quoted
B)Amount and type of inventory ordered
C)Sellers cost of the product
D)Delivery Date
E)All of the above will be collected
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6
A document sent by the purchasing department to order a specific quantity of goods or services is called a:

A)Vendor invoice
B)Purchasing report
C)Purchase order
D)Purchase requisition
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7
The Quinter Corporation ordered material for its manufacturing process with a price of $75,000 and that had terms of 1/10 net/30.What is the lowest amount of cash Quinter will have to pay if it meets the terms of the discount agreement?

A)$67,500
B)$75,000
C)$74,250
D)$52,500
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8
Which of the following is part of the revenue process?

A)Provide customer support
B)Pay suppliers for inventory
C)Convert raw material into inventory for sale
D)Order inventory for resale
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9
Decatron,Inc.purchased $76,500 of parts from a vendor who offered credit terms of 3/15,n/45.If Decatron takes advantage of the discount,the amount paid to the vendor (rounded to the nearest dollar)will be:

A)$74,205
B)$76,500
C)$76,271
D)cannot be determined from the information given
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10
Veta Corporation purchased $14,650 in supplies from a vendor offering credit terms of 2/10,n/30.If Veta takes advantage of the discount,the amount paid to the vendor (rounded to the nearest dollar)will be:

A)$14,650
B)$14,621
C)$14,357
D)$13,185
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11
Determining the credit and payment policies for customers is part of the:

A)Revenue process
B)Collection process
C)Expenditure process
D)Conversion Process
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12
Determining the company's needs for goods and services is associated with which of the following processes?

A)Revenue process
B)Expenditure process
C)Conversion process
D)Evaluation process
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13
Selecting suppliers for a company's goods and services is part of the:

A)Revenue process
B)Expenditure process
C)Selection process
D)Conversion process
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14
Which of the following is not part of the expenditure process?

A)Receiving goods and services
B)Paying suppliers
C)Ordering goods and services
D)Using equipment to manufacture products
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15
Which of the following is not information that a company should collect from a customer when it receive an order?

A)Address
B)Inventory ordered
C)Credit information
D)How goods will reach the customer
E)All of the above should be collected
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16
Delivery of goods is associated with which of the following process?

A)Revenue process
B)Expenditure process
C)Conversion process
D)Evaluation process
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17
Which of the following is not part of the conversion process?

A)Machine set ups.
B)Paying for the raw material used in production.
C)Storing the raw material used in production.
D)Storing finished manufactured goods until sold
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18
Which of the following is part of the conversion process?

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
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19
Norton Corporation has purchased raw materials from a vendor and was offered credit terms of 2/10,n/30.Which of the following reflects these terms?

A)20% discount (2/10)if paid within 30 days
B)2% discount if paid within 10 days
C)10% discount if paid within 30 days and 2% after 30 days
D)2% discount if paid between 10 and 30 days.
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20
Manufacturing products is associated with which of the following processes?

A)Revenue process
B)Expenditure process
C)Conversion process
D)Evaluation process
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21
Y = m(X)is the formula for a(n):

A)Activity cost
B)Variable cost
C)Fixed cost
D)Mixed cost
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22
Which of the following is not a fixed cost?

A)President's salary
B)Supervisor's salary
C)Monthly rent of factory equipment
D)Utility cost
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23
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?

A)November 1
B)November 5
C)November 22
D)November 23
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24
A linear regression analysis indicated a constant of 6,025.50,an X coefficient of 24.75,and an R-squared of 0.65.The estimated cost when the independent variable is 350 is:

A)$55,386
B)$14,688
C)$11,657
D)$10,629
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25
The document listing the quantities of materials and parts needed by the production department is referred to as a:

A)Operations list
B)Bill of lading
C)Production order
D)Materials requisition
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26
Goods shipped from a seller's warehouse on June 10,2010,arrived at the buyer's warehouse on June 16,2010.The invoice for the goods arrived at the buyer's accounting department on June 13,2010 and was paid on June 20,2010.If the goods were sold FOB destination,the buyer took legal title on:

A)June 20,2008
B)June 13,2008
C)June 10,2008
D)June 16,2008
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27
Goods shipped from a seller's warehouse on April 10 using the terms FOB Shipping Point.On the way to the buyer's warehouse the truck hauling the goods wrecked and the
Goods were destroyed.Who will get the insurance check covering the loss?

A)The seller
B)The buyer
C)The seller and buyer split the loss.
D)The delivery company.
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28
The formula for a fixed cost is:

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)
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29
In linear regression analysis,the dependent variable is:

A)Labeled X in the linear equation
B)Referred to as the intercept
C)The cost driver
D)The total cost
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30
A cost that is constant per unit but varies in total is called a(n):

A)Activity cost
B)Variable cost
C)Fixed cost
D)Mixed cost
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31
Use the following to answer questions
The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:
<strong>Use the following to answer questions The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:   The variable housekeeping cost per room rental is:</strong> A)$14.36 B)$10.13 C)$ 9.06 D)$ 9.00
The variable housekeeping cost per room rental is:

A)$14.36
B)$10.13
C)$ 9.06
D)$ 9.00
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32
The purchase order originates with the:

A)Vendor
B)Receiving department
C)Purchasing department
D)Manufacturing department needing the goods or services
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33
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:

A)$35,435
B)$35,184
C)$25,764
D)$27,555
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34
A cost that increases in total but decreases per unit as the cost driver increase is a(n):

A)Activity cost
B)Variable cost
C)Fixed cost
D)Mixed cost
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35
FOB shipping point indicates that goods in transit belong to the:

A)Seller
B)Buyer
C)Common carrier
D)either the buyer or seller depending upon the terms of the bill of lading
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36
The formula for a mixed cost is:

A)Y = b
B)Y = m(X)
C)Y = m(X)+ b
D)Y = m(X)+ b(X)
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37
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:

A)Nov 20,2010
B)Nov 13,2010
C)Nov 10,2010
D)Nov 16,2010
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38
Shipping terms indicating that legal title passes to the buyer when goods arrive at the buyer's warehouse are:

A)FOB destination
B)FOB shipping point
C)FOB shipping invoice
D)FOB purchase order
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39
Which of the following is not a variable cost?

A)Sales Commission
B)Material used to produce product
C)Salary of product inspectors
D)Cost of packaging product
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40
Tri-State Corporation ordered materials from Down-State Manufacturing on October 1,2006.Down-State shipped the materials by rail on October 5 and the railroad notified Tri-State on October 12,that the goods had arrived.Tri-State picked up the materials on October 13.The terms of the sale are FOB shipping point.On what date should Tri-State consider this a purchase?

A)October 1
B)October 5
C)October 12
D)October 13
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41
Contrast the conversion process with the revenue/expenditure process.
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42
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?
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43
The accounting department at Alaska Enterprises,Inc.is running low on office supplies.The accounting manager has asked you to obtain additional supplies.Describe all the steps necessary to arrange for the acquisition and payment for the supplies.Identify all documents that would be utilized during this process,as well as the person or department that would prepare the document.
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44
Use the following to answer questions
The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:
<strong>Use the following to answer questions The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:   The fixed housekeeping cost per month is:</strong> A)$7,750 B)$7,830 C)$7,882 D)$8,813
The fixed housekeeping cost per month is:

A)$7,750
B)$7,830
C)$7,882
D)$8,813
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45
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
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 the information above calculate the cost estimation equation using the high/low method.If Tempo expects to produce 7,000 units in Feb what cost should Tempo budget for?
Using the information above calculate the cost estimation equation using the high/low
method.If Tempo expects to produce 7,000 units in Feb what cost should Tempo budget
for?
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46
Define the following terms as they relate to cost behavior,draw their graphical representation,and give an example of each: (1)fixed cost,(2)variable cost,and (3)mixed cost.
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47
Use the following to answer questions
Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:
<strong>Use the following to answer questions Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:   The cost equation is:</strong> A)Y = $4.35X + $1,457.80 B)Y = ($4.35 + $.23)X - $.76Z C)$1,457.80 = $4.35X + $.76Y D)$4.35Y = ($.23 + $.76)X - $1,457.80
The cost equation is:

A)Y = $4.35X + $1,457.80
B)Y = ($4.35 + $.23)X - $.76Z
C)$1,457.80 = $4.35X + $.76Y
D)$4.35Y = ($.23 + $.76)X - $1,457.80
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48
The customer service department at Mall Mart gathered the following data for the first six months of its fiscal year:
<strong>The customer service department at Mall Mart gathered the following data for the first six months of its fiscal year:   Using the high/low estimation method:</strong> A)Determine the cost estimation equation. b)Estimate the total department costs during a month where 18,500 customers are serviced. c)Estimate the total department cost during a month where 35,000 customers are serviced. Using the high/low estimation method:

A)Determine the cost estimation equation.
b)Estimate the total department costs during a month where 18,500
customers are serviced.
c)Estimate the total department cost during a month where 35,000 customers are
serviced.
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49
Use the following to answer questions
The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:
<strong>Use the following to answer questions The TLC Motel, which uses the high/low method to estimate its total cost formula, gathered the following data for the first six months of its current fiscal year:   The estimated total housekeeping cost for a month with 1,400 room rentals is:</strong> A)$22,012 B)$21,740 C)$20,350 D)$15,715
The estimated total housekeeping cost for a month with 1,400 room rentals is:

A)$22,012
B)$21,740
C)$20,350
D)$15,715
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50
Which of the following activity bases would be the best cost driver for flour costs for a pizzeria?

A)Number of customers
B)Hours of operation
C)Number of employees
D)Number of pizzas
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51
The following is from a linear regression analysis,what is the constant in the cost
equation?
<strong>The following is from a linear regression analysis,what is the constant in the cost equation?   </strong> A)$9,500 B)$4,500 C)$2,714 D)$9,980

A)$9,500
B)$4,500
C)$2,714
D)$9,980
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52
Which of the follow statements is true about a regression's r2?

A)The greater the r2 the greater the relationship between the independent and dependant variable.
B)An r2 that is greater than 1 means that there is more than a 100 percent relationship between the independent and dependant variable.
C)When a r2 has a negative value the independent variable is inversely related to the dependent variable.
D)When a r2 is less than 1 the greater the inverse relationship between the independent and dependant variables.
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53
Describe the effect of an increase in activity,within the relevant range,on variable and fixed cost
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54
The "I Can't Believe It's Yogurt" shop sells only yogurt and only in cups.Which of the following would be a variable cost if number of customers is the cost driver?

A)Rent on the shop
B)Wages
C)Spoons
D)Electricity
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55
Explain why it is inappropriate to calculate the cost of an expected activity (using a cost
formula generated by either the High/Low method or linear regression)that is outside the
relevant range of activity.
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56
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?

A)$210,000
B)$250,000
C)$460,000
D)Unable to determine from the information given
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57
Given the information below from a linear regression what is the X coefficient of the regression equation?
<strong>Given the information below from a linear regression what is the X coefficient of the regression equation?  </strong> A).50 B)3.00 C).75 D)1.00

A).50
B)3.00
C).75
D)1.00
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58
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
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 R<sup>2</sup> for the equation.If Tempo expects to produce 7,000 units in February what cost should Tempo budget for?
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?
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59
Use the following to answer questions
Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:
<strong>Use the following to answer questions Bob's Bowlarama performed a linear regression analysis on the monthly cost of operating its concession stand, using the number of customers serviced as the cost driver. The results were as follows:   The cost of operating the concession stand for a month in which the concession services 250 customers is estimated at:</strong> A)$2,792.80 B)$2,602.80 C)$2,545.30 D)$ 627.20
The cost of operating the concession stand for a month in which the concession services 250 customers is estimated at:

A)$2,792.80
B)$2,602.80
C)$2,545.30
D)$ 627.20
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60
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.

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
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61
Match between columns
Rent on manufacturing equipment.
Mixed Revenue
Rent on manufacturing equipment.
Variable Cost
Rent on manufacturing equipment.
Fixed Cost
Rent on manufacturing equipment.
Variable Revenue
Rent on manufacturing equipment.
Fixed Revenue
Rent on manufacturing equipment.
Mixed Cost
Fees charged to customers based on hours spent repairing computer.
Mixed Revenue
Fees charged to customers based on hours spent repairing computer.
Variable Cost
Fees charged to customers based on hours spent repairing computer.
Fixed Cost
Fees charged to customers based on hours spent repairing computer.
Variable Revenue
Fees charged to customers based on hours spent repairing computer.
Fixed Revenue
Fees charged to customers based on hours spent repairing computer.
Mixed Cost
Sales commission paid by company
Mixed Revenue
Sales commission paid by company
Variable Cost
Sales commission paid by company
Fixed Cost
Sales commission paid by company
Variable Revenue
Sales commission paid by company
Fixed Revenue
Sales commission paid by company
Mixed Cost
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Mixed Revenue
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Variable Cost
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Fixed Cost
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Variable Revenue
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Fixed Revenue
On price for first 10,000 kilowatts cost increases for every kilowatt used after 10,000 kilowatts.
Mixed Cost
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Mixed Revenue
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Variable Cost
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Fixed Cost
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Variable Revenue
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Fixed Revenue
Retainer (fee) charged by attorney to represent client whether legal work done or not (from attorney’s perspective).
Mixed Cost
Mixed Revenue
Variable Cost
Fixed Cost
Variable Revenue
Fixed Revenue
Mixed Cost
Mixed Revenue
Variable Cost
Fixed Cost
Variable Revenue
Fixed Revenue
Mixed Cost
Mixed Revenue
Variable Cost
Fixed Cost
Variable Revenue
Fixed Revenue
Mixed Cost
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62
Match between columns
Shipping document that describes agreement between business and common carrier.
Sales Allowances
Shipping document that describes agreement between business and common carrier.
Bill of Lading
Shipping document that describes agreement between business and common carrier.
Manufacturing Overhead
Shipping document that describes agreement between business and common carrier.
FOB Destination
Shipping document that describes agreement between business and common carrier.
Cells
Shipping document that describes agreement between business and common carrier.
Direct Material
Shipping document that describes agreement between business and common carrier.
Purchase Returns
Shipping document that describes agreement between business and common carrier.
Machine Set Ups
Shipping document that describes agreement between business and common carrier.
Direct Labor
Shipping document that describes agreement between business and common carrier.
Purchase Allowances
Shipping document that describes agreement between business and common carrier.
FOB Shipping Point
Shipping document that describes agreement between business and common carrier.
Purchase Discounts
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Sales Allowances
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Bill of Lading
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Manufacturing Overhead
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
FOB Destination
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Cells
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Direct Material
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Purchase Returns
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Machine Set Ups
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Direct Labor
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Purchase Allowances
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
FOB Shipping Point
Reduction in price of goods purchased as a result of dissatisfaction by customer (buyers books).
Purchase Discounts
Adjustments made to machines in preparation for new production run.
Sales Allowances
Adjustments made to machines in preparation for new production run.
Bill of Lading
Adjustments made to machines in preparation for new production run.
Manufacturing Overhead
Adjustments made to machines in preparation for new production run.
FOB Destination
Adjustments made to machines in preparation for new production run.
Cells
Adjustments made to machines in preparation for new production run.
Direct Material
Adjustments made to machines in preparation for new production run.
Purchase Returns
Adjustments made to machines in preparation for new production run.
Machine Set Ups
Adjustments made to machines in preparation for new production run.
Direct Labor
Adjustments made to machines in preparation for new production run.
Purchase Allowances
Adjustments made to machines in preparation for new production run.
FOB Shipping Point
Adjustments made to machines in preparation for new production run.
Purchase Discounts
Cost of salaries for workers who actually manufacture the product.
Sales Allowances
Cost of salaries for workers who actually manufacture the product.
Bill of Lading
Cost of salaries for workers who actually manufacture the product.
Manufacturing Overhead
Cost of salaries for workers who actually manufacture the product.
FOB Destination
Cost of salaries for workers who actually manufacture the product.
Cells
Cost of salaries for workers who actually manufacture the product.
Direct Material
Cost of salaries for workers who actually manufacture the product.
Purchase Returns
Cost of salaries for workers who actually manufacture the product.
Machine Set Ups
Cost of salaries for workers who actually manufacture the product.
Direct Labor
Cost of salaries for workers who actually manufacture the product.
Purchase Allowances
Cost of salaries for workers who actually manufacture the product.
FOB Shipping Point
Cost of salaries for workers who actually manufacture the product.
Purchase Discounts
Discounts given to unhappy customers by seller (seller books).
Sales Allowances
Discounts given to unhappy customers by seller (seller books).
Bill of Lading
Discounts given to unhappy customers by seller (seller books).
Manufacturing Overhead
Discounts given to unhappy customers by seller (seller books).
FOB Destination
Discounts given to unhappy customers by seller (seller books).
Cells
Discounts given to unhappy customers by seller (seller books).
Direct Material
Discounts given to unhappy customers by seller (seller books).
Purchase Returns
Discounts given to unhappy customers by seller (seller books).
Machine Set Ups
Discounts given to unhappy customers by seller (seller books).
Direct Labor
Discounts given to unhappy customers by seller (seller books).
Purchase Allowances
Discounts given to unhappy customers by seller (seller books).
FOB Shipping Point
Discounts given to unhappy customers by seller (seller books).
Purchase Discounts
Manufacturing cost not directly associated with the production of a product.
Sales Allowances
Manufacturing cost not directly associated with the production of a product.
Bill of Lading
Manufacturing cost not directly associated with the production of a product.
Manufacturing Overhead
Manufacturing cost not directly associated with the production of a product.
FOB Destination
Manufacturing cost not directly associated with the production of a product.
Cells
Manufacturing cost not directly associated with the production of a product.
Direct Material
Manufacturing cost not directly associated with the production of a product.
Purchase Returns
Manufacturing cost not directly associated with the production of a product.
Machine Set Ups
Manufacturing cost not directly associated with the production of a product.
Direct Labor
Manufacturing cost not directly associated with the production of a product.
Purchase Allowances
Manufacturing cost not directly associated with the production of a product.
FOB Shipping Point
Manufacturing cost not directly associated with the production of a product.
Purchase Discounts
A group of machines arranged to reduce travel time of product between machines.
Sales Allowances
A group of machines arranged to reduce travel time of product between machines.
Bill of Lading
A group of machines arranged to reduce travel time of product between machines.
Manufacturing Overhead
A group of machines arranged to reduce travel time of product between machines.
FOB Destination
A group of machines arranged to reduce travel time of product between machines.
Cells
A group of machines arranged to reduce travel time of product between machines.
Direct Material
A group of machines arranged to reduce travel time of product between machines.
Purchase Returns
A group of machines arranged to reduce travel time of product between machines.
Machine Set Ups
A group of machines arranged to reduce travel time of product between machines.
Direct Labor
A group of machines arranged to reduce travel time of product between machines.
Purchase Allowances
A group of machines arranged to reduce travel time of product between machines.
FOB Shipping Point
A group of machines arranged to reduce travel time of product between machines.
Purchase Discounts
Goods return by buyer on buyer's books.
Sales Allowances
Goods return by buyer on buyer's books.
Bill of Lading
Goods return by buyer on buyer's books.
Manufacturing Overhead
Goods return by buyer on buyer's books.
FOB Destination
Goods return by buyer on buyer's books.
Cells
Goods return by buyer on buyer's books.
Direct Material
Goods return by buyer on buyer's books.
Purchase Returns
Goods return by buyer on buyer's books.
Machine Set Ups
Goods return by buyer on buyer's books.
Direct Labor
Goods return by buyer on buyer's books.
Purchase Allowances
Goods return by buyer on buyer's books.
FOB Shipping Point
Goods return by buyer on buyer's books.
Purchase Discounts
Legal title transfers to customer when goods are received.
Sales Allowances
Legal title transfers to customer when goods are received.
Bill of Lading
Legal title transfers to customer when goods are received.
Manufacturing Overhead
Legal title transfers to customer when goods are received.
FOB Destination
Legal title transfers to customer when goods are received.
Cells
Legal title transfers to customer when goods are received.
Direct Material
Legal title transfers to customer when goods are received.
Purchase Returns
Legal title transfers to customer when goods are received.
Machine Set Ups
Legal title transfers to customer when goods are received.
Direct Labor
Legal title transfers to customer when goods are received.
Purchase Allowances
Legal title transfers to customer when goods are received.
FOB Shipping Point
Legal title transfers to customer when goods are received.
Purchase Discounts
Discount given buyer for paying amount due early.
Sales Allowances
Discount given buyer for paying amount due early.
Bill of Lading
Discount given buyer for paying amount due early.
Manufacturing Overhead
Discount given buyer for paying amount due early.
FOB Destination
Discount given buyer for paying amount due early.
Cells
Discount given buyer for paying amount due early.
Direct Material
Discount given buyer for paying amount due early.
Purchase Returns
Discount given buyer for paying amount due early.
Machine Set Ups
Discount given buyer for paying amount due early.
Direct Labor
Discount given buyer for paying amount due early.
Purchase Allowances
Discount given buyer for paying amount due early.
FOB Shipping Point
Discount given buyer for paying amount due early.
Purchase Discounts
Crude oil purchased to produce gasoline.
Sales Allowances
Crude oil purchased to produce gasoline.
Bill of Lading
Crude oil purchased to produce gasoline.
Manufacturing Overhead
Crude oil purchased to produce gasoline.
FOB Destination
Crude oil purchased to produce gasoline.
Cells
Crude oil purchased to produce gasoline.
Direct Material
Crude oil purchased to produce gasoline.
Purchase Returns
Crude oil purchased to produce gasoline.
Machine Set Ups
Crude oil purchased to produce gasoline.
Direct Labor
Crude oil purchased to produce gasoline.
Purchase Allowances
Crude oil purchased to produce gasoline.
FOB Shipping Point
Crude oil purchased to produce gasoline.
Purchase Discounts
Legal title transfers when goods leave the seller's place of business.
Sales Allowances
Legal title transfers when goods leave the seller's place of business.
Bill of Lading
Legal title transfers when goods leave the seller's place of business.
Manufacturing Overhead
Legal title transfers when goods leave the seller's place of business.
FOB Destination
Legal title transfers when goods leave the seller's place of business.
Cells
Legal title transfers when goods leave the seller's place of business.
Direct Material
Legal title transfers when goods leave the seller's place of business.
Purchase Returns
Legal title transfers when goods leave the seller's place of business.
Machine Set Ups
Legal title transfers when goods leave the seller's place of business.
Direct Labor
Legal title transfers when goods leave the seller's place of business.
Purchase Allowances
Legal title transfers when goods leave the seller's place of business.
FOB Shipping Point
Legal title transfers when goods leave the seller's place of business.
Purchase Discounts
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Match between columns
Measures the amount of correlation between the independent and dependent variable.
R Square
Measures the amount of correlation between the independent and dependent variable.
Standard Error
Measures the amount of correlation between the independent and dependent variable.
Independent Variable
Measures the amount of correlation between the independent and dependent variable.
Relevant Range
Measures the amount of correlation between the independent and dependent variable.
Dependent Variable
Measures the amount of correlation between the independent and dependent variable.
T Statistic
Measures the variability around the mean.
R Square
Measures the variability around the mean.
Standard Error
Measures the variability around the mean.
Independent Variable
Measures the variability around the mean.
Relevant Range
Measures the variability around the mean.
Dependent Variable
Measures the variability around the mean.
T Statistic
The total cost that is the result of some activity.
R Square
The total cost that is the result of some activity.
Standard Error
The total cost that is the result of some activity.
Independent Variable
The total cost that is the result of some activity.
Relevant Range
The total cost that is the result of some activity.
Dependent Variable
The total cost that is the result of some activity.
T Statistic
Creates the change in the cost of an activity.
R Square
Creates the change in the cost of an activity.
Standard Error
Creates the change in the cost of an activity.
Independent Variable
Creates the change in the cost of an activity.
Relevant Range
Creates the change in the cost of an activity.
Dependent Variable
Creates the change in the cost of an activity.
T Statistic
Measures the significance of the regression slope.
R Square
Measures the significance of the regression slope.
Standard Error
Measures the significance of the regression slope.
Independent Variable
Measures the significance of the regression slope.
Relevant Range
Measures the significance of the regression slope.
Dependent Variable
Measures the significance of the regression slope.
T Statistic
A span of activity that is normal for a company.
R Square
A span of activity that is normal for a company.
Standard Error
A span of activity that is normal for a company.
Independent Variable
A span of activity that is normal for a company.
Relevant Range
A span of activity that is normal for a company.
Dependent Variable
A span of activity that is normal for a company.
T Statistic
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Create your own data set that reflects an activity and its related cost.You must explain the basis of the relationship represented by the data.
Required:
Calculate a cost estimation ratio using the High/Low method
Calculate a cost estimation ratio and R2 using the regression method.
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The Pacioli 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 6 months.
Using regression determine the cost estimation equation and the R2 for the equation.If Pacioli expects to produce 14,000 units in January what cost should Pacioli budget for? How does the R2 help when forecasting cost and what impact does this R2 have on this estimate?
The Pacioli 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 6 months. Using regression determine the cost estimation equation and the R<sup>2</sup> for the equation.If Pacioli expects to produce 14,000 units in January what cost should Pacioli budget for? How does the R<sup>2</sup> help when forecasting cost and what impact does this R<sup>2</sup> have on this estimate?
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Match between columns
Basis that reflects the consumption or provision of resources
Independent Variable
Basis that reflects the consumption or provision of resources
Activity Driver
Basis that reflects the consumption or provision of resources
Dependent Variable
Basis that reflects the consumption or provision of resources
Variable Cost
Basis that reflects the consumption or provision of resources
Relevant Range
X variable
Independent Variable
X variable
Activity Driver
X variable
Dependent Variable
X variable
Variable Cost
X variable
Relevant Range
Y Variable
Independent Variable
Y Variable
Activity Driver
Y Variable
Dependent Variable
Y Variable
Variable Cost
Y Variable
Relevant Range
A span of activity that is normal for a company.
Independent Variable
A span of activity that is normal for a company.
Activity Driver
A span of activity that is normal for a company.
Dependent Variable
A span of activity that is normal for a company.
Variable Cost
A span of activity that is normal for a company.
Relevant Range
A cost that changes in direct proportion to an activity
Independent Variable
A cost that changes in direct proportion to an activity
Activity Driver
A cost that changes in direct proportion to an activity
Dependent Variable
A cost that changes in direct proportion to an activity
Variable Cost
A cost that changes in direct proportion to an activity
Relevant Range
Independent Variable
Activity Driver
Dependent Variable
Variable Cost
Relevant Range
Independent Variable
Activity Driver
Dependent Variable
Variable Cost
Relevant Range
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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
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?
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?
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Match between columns
The span of operating activity that is considered normal for a company.
Variable Revenue
The span of operating activity that is considered normal for a company.
Activity Driver
The span of operating activity that is considered normal for a company.
Cost Behavior
The span of operating activity that is considered normal for a company.
Fixed Cost
The span of operating activity that is considered normal for a company.
Mixed Cost
The span of operating activity that is considered normal for a company.
Relevant Range
The span of operating activity that is considered normal for a company.
Revenue Behavior
The span of operating activity that is considered normal for a company.
Variable Cost
The span of operating activity that is considered normal for a company.
Mixed Revenue
The span of operating activity that is considered normal for a company.
Fixed Revenue
A revenue that changes in direct proportion to the change in activity.
Variable Revenue
A revenue that changes in direct proportion to the change in activity.
Activity Driver
A revenue that changes in direct proportion to the change in activity.
Cost Behavior
A revenue that changes in direct proportion to the change in activity.
Fixed Cost
A revenue that changes in direct proportion to the change in activity.
Mixed Cost
A revenue that changes in direct proportion to the change in activity.
Relevant Range
A revenue that changes in direct proportion to the change in activity.
Revenue Behavior
A revenue that changes in direct proportion to the change in activity.
Variable Cost
A revenue that changes in direct proportion to the change in activity.
Mixed Revenue
A revenue that changes in direct proportion to the change in activity.
Fixed Revenue
How a cost reacts to change in the level of operating activity
Variable Revenue
How a cost reacts to change in the level of operating activity
Activity Driver
How a cost reacts to change in the level of operating activity
Cost Behavior
How a cost reacts to change in the level of operating activity
Fixed Cost
How a cost reacts to change in the level of operating activity
Mixed Cost
How a cost reacts to change in the level of operating activity
Relevant Range
How a cost reacts to change in the level of operating activity
Revenue Behavior
How a cost reacts to change in the level of operating activity
Variable Cost
How a cost reacts to change in the level of operating activity
Mixed Revenue
How a cost reacts to change in the level of operating activity
Fixed Revenue
A cost that does not change in total as the amount of activity changes
Variable Revenue
A cost that does not change in total as the amount of activity changes
Activity Driver
A cost that does not change in total as the amount of activity changes
Cost Behavior
A cost that does not change in total as the amount of activity changes
Fixed Cost
A cost that does not change in total as the amount of activity changes
Mixed Cost
A cost that does not change in total as the amount of activity changes
Relevant Range
A cost that does not change in total as the amount of activity changes
Revenue Behavior
A cost that does not change in total as the amount of activity changes
Variable Cost
A cost that does not change in total as the amount of activity changes
Mixed Revenue
A cost that does not change in total as the amount of activity changes
Fixed Revenue
A cost that changes in direct proportion to the change in activity.
Variable Revenue
A cost that changes in direct proportion to the change in activity.
Activity Driver
A cost that changes in direct proportion to the change in activity.
Cost Behavior
A cost that changes in direct proportion to the change in activity.
Fixed Cost
A cost that changes in direct proportion to the change in activity.
Mixed Cost
A cost that changes in direct proportion to the change in activity.
Relevant Range
A cost that changes in direct proportion to the change in activity.
Revenue Behavior
A cost that changes in direct proportion to the change in activity.
Variable Cost
A cost that changes in direct proportion to the change in activity.
Mixed Revenue
A cost that changes in direct proportion to the change in activity.
Fixed Revenue
Basis that reflect the consumption or provision of resources.
Variable Revenue
Basis that reflect the consumption or provision of resources.
Activity Driver
Basis that reflect the consumption or provision of resources.
Cost Behavior
Basis that reflect the consumption or provision of resources.
Fixed Cost
Basis that reflect the consumption or provision of resources.
Mixed Cost
Basis that reflect the consumption or provision of resources.
Relevant Range
Basis that reflect the consumption or provision of resources.
Revenue Behavior
Basis that reflect the consumption or provision of resources.
Variable Cost
Basis that reflect the consumption or provision of resources.
Mixed Revenue
Basis that reflect the consumption or provision of resources.
Fixed Revenue
A revenue that changes, but not proportionately, to a change in activity.
Variable Revenue
A revenue that changes, but not proportionately, to a change in activity.
Activity Driver
A revenue that changes, but not proportionately, to a change in activity.
Cost Behavior
A revenue that changes, but not proportionately, to a change in activity.
Fixed Cost
A revenue that changes, but not proportionately, to a change in activity.
Mixed Cost
A revenue that changes, but not proportionately, to a change in activity.
Relevant Range
A revenue that changes, but not proportionately, to a change in activity.
Revenue Behavior
A revenue that changes, but not proportionately, to a change in activity.
Variable Cost
A revenue that changes, but not proportionately, to a change in activity.
Mixed Revenue
A revenue that changes, but not proportionately, to a change in activity.
Fixed Revenue
A cost that varies, but not proportionately, to a change in activity.
Variable Revenue
A cost that varies, but not proportionately, to a change in activity.
Activity Driver
A cost that varies, but not proportionately, to a change in activity.
Cost Behavior
A cost that varies, but not proportionately, to a change in activity.
Fixed Cost
A cost that varies, but not proportionately, to a change in activity.
Mixed Cost
A cost that varies, but not proportionately, to a change in activity.
Relevant Range
A cost that varies, but not proportionately, to a change in activity.
Revenue Behavior
A cost that varies, but not proportionately, to a change in activity.
Variable Cost
A cost that varies, but not proportionately, to a change in activity.
Mixed Revenue
A cost that varies, but not proportionately, to a change in activity.
Fixed Revenue
How a revenue reacts to a change in the level of operating activity.
Variable Revenue
How a revenue reacts to a change in the level of operating activity.
Activity Driver
How a revenue reacts to a change in the level of operating activity.
Cost Behavior
How a revenue reacts to a change in the level of operating activity.
Fixed Cost
How a revenue reacts to a change in the level of operating activity.
Mixed Cost
How a revenue reacts to a change in the level of operating activity.
Relevant Range
How a revenue reacts to a change in the level of operating activity.
Revenue Behavior
How a revenue reacts to a change in the level of operating activity.
Variable Cost
How a revenue reacts to a change in the level of operating activity.
Mixed Revenue
How a revenue reacts to a change in the level of operating activity.
Fixed Revenue
A revenue that does not change in total as activity changes.
Variable Revenue
A revenue that does not change in total as activity changes.
Activity Driver
A revenue that does not change in total as activity changes.
Cost Behavior
A revenue that does not change in total as activity changes.
Fixed Cost
A revenue that does not change in total as activity changes.
Mixed Cost
A revenue that does not change in total as activity changes.
Relevant Range
A revenue that does not change in total as activity changes.
Revenue Behavior
A revenue that does not change in total as activity changes.
Variable Cost
A revenue that does not change in total as activity changes.
Mixed Revenue
A revenue that does not change in total as activity changes.
Fixed Revenue
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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
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 R<sup>2</sup> for the equation.If Riga expects to produce 8,500 units in February what cost should Riga budget for?
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?
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