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### Acct101Chapter06Quiz

Course: ACCT 101, Spring 2012
School: S.F. State
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Word Count: 580

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QUIZ SAMPLE - CHAPTER 6 1. Costs that do not increase as the volume of production increases are: A. variable costs. C. mixed costs. B. fixed costs. D. step costs. 2. When graphing total fixed costs, using a horizontal axis representing units of production and the vertical axis representing total costs, the line on the graph would be shown as a(n): A. horizontal line. B. vertical line. C. upward sloping line....

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QUIZ SAMPLE - CHAPTER 6 1. Costs that do not increase as the volume of production increases are: A. variable costs. C. mixed costs. B. fixed costs. D. step costs. 2. When graphing total fixed costs, using a horizontal axis representing units of production and the vertical axis representing total costs, the line on the graph would be shown as a(n): A. horizontal line. B. vertical line. C. upward sloping line. D. downward sloping line. 3. Which of the following statements is NOT true about costs per unit within the relevant range? A. Variable costs stay constant with changes in volume. B. Curvilinear costs stay constant with changes in volume. C. Fixed costs decrease in proportion to increases in volume. D. Mixed costs decrease, but not in direct proportion to increases in volume. 4. How would the equation for total costs be written using the following? y = total costs v = variable cost per unit of activity x = volume of activity f = total fixed costs A. B. y=f y = xv C. D. y = f + xv y = xf 5. A cell phone bill consisting of a monthly base, plus an added amount when too many minutes are used can be classified as a: A. variable cost. B. fixed cost. C. mixed cost. D. step cost. 6. A company is analyzing its mixed costs. During March, its busiest month, a company had total labor hours of 13,000 and total costs of \$33,000. During August, its slowest month, the company had labor hours of 7,000 and total costs of \$21,000. The company is planning for 17,000 direct labor hours next March. How many dollars should the company budget for fixed costs during March? A. \$6,000 C. \$34,000 B. \$7,000 D. \$41,000 7. A company is analyzing its mixed costs. During March, its busiest month, a company had total labor hours of 13,000 and total costs of \$33,000. During August, its slowest month, the company had labor hours of 7,000 and costs total of \$21,000. The company is planning for 11,000 direct labor hours next March. How many dollars should the company budget for total costs during March? A. \$6,000 C. \$12,000 B. \$7,000 D. \$29,000 8. Which of the following statements is NOT true regarding regression analysis? A. Regression analysis is a statistical procedure for determining the line that best fits the data. B. Regression analysis uses the high volume and low volume points to determine the best fit between the two data points. C. Regression analysis helps generate a statistic, called the R-square, which tells how well the line fits the data points. D. Regression analysis helps managers implement activity based costing systems. 9. Which of the following is a data concern when using the high-low method and regression analysis? A. Outliers B. The use of only two data points C. Low variable cost per unit D. High fixed costs 10. An income statement organized according to the contribution margin approach: A. subtracts variable costs from sales revenue to show the contribution margin. B. presents all variable costs whether relating to the merchandise sold or selling and administrative activities, above the contribution margin line. C. is all of the above. D. subtracts COGS from sales revenue to show the gross margin. Answers 1. B 2. A 3. B 4. C 5. C 6. B Variable costs per unit = change in costs per unit = (\$33,000-\$21,000) / 13,000 hrs 7,000 hrs) = 12,000 / 6,000 = \$2.00 per hr Total cost = fixed cost + (variable costs per unit x volume) At 13,000 hrs: \$33,000 = fixed costs + (2.00 per hr x 13,000 hrs) \$33,000 = fixed costs + 26,000 Fixed costs = 33,000 26,000 = \$7,000 7. D Using the numbers from problem 6 above: Total costs = fixed cost + (variable costs per unit x volume) Total costs = \$7,000 + (2.00 per hr x 11,000 hrs) = \$29,000 8. B 9. A 10. C
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S.F. State - ACCT - 101
CHAPTER 7 SAMPLE QUIZ1.Which of the following is NOT an assumption of Cost-Volume-Profit analysis?A.Inventory levels will not change.B.Managers can classify each cost as either variable or fixed, and mixed costs can bebroken down into their variabl
S.F. State - ACCT - 101
CHAPTER 8 QUIZ1.The most relevant costs are:A.current costs.B.nominal costs.C.D.estimated future costs.costs already incurred.2.Which is NOT one of the differences between relevant and irrelevant costs?A.Relevant costs do not differ under di
S.F. State - ACCT - 101
CHAPTER 9 SAMPLE QUIZ1.Which of the following is NOT one of the benefits of budgeting?A.Budgets eliminate waste in an organization.B.Budgets force managers to plan.C.Budgets force managers to consider relations among operations across the entire v
S.F. State - ACCT - 101
CHAPTER 10 SAMPLE QUIZ1.Which of the following is the difference between a flexible budget and a static budget?A.The static budget considers all costs and a flexible budget considers only variable costs.B.The static budget is prepared at the beginni
S.F. State - ACCT - 101
CHAPTER 11 SAMPLE QUIZ1.Management by exception would dictate that the manager investigate which of the followingvariances?A. Variances which are greater than a certain dollar amount or percentage.B. Variances which are less than a certain dollar amo
S.F. State - ACCT - 101
CHAPTER 12 SAMPLE QUIZ1.Which of the following is correct?A.Capital budgeting methods produce the same decision and their use is based on theinformation available.B.The internal rate of return method does not consider the time value of money.C.Th
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Mini Test 01 : Orientation &amp; Chapters 1 &amp; 501. If you need to communicate with the instructor about the class, the only &quot;official&quot; mode ofcommunication is?a. Mental telepathyb. All of these are &quot;official&quot; ways to contact the instructor about a class-r
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Mini Test 02 : Chapters 5 &amp; 601. According to your instructor, which of the following is one of the LEAST importantinfluences on the consumer buying process?a. Situational factorsb. Motivationc. Social factorsd. Psychological factorse. Advertising
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Mini Test 03: Chapter 901. Chun has developed a line of insect repellent with no bad chemicals in it. She usedpsychographic segmentation to define her primary segment as environmental activists. Which ofthe following is the WORST way that Chun could co
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Mini Test 04: Chapter 801. Which of the following statements about a decision support system is FALSE?a. There is always a time constraint when making business decisions.b. It is better to wait until after you know what decision you have to support to
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Mini Test 05: Chapters 10 &amp; 1101. A _ is a good, service or idea consisting of a bundle of tangible and intangibleattributes that satisfies consumers and is received in exchange for money or some other form ofvalue.a. Productb. Featurettec. Feature
S.F. State - MKTG - 431
MiniTest 06: Chapters 11 &amp; 1201. Intel corporation created the Intel Inside campaign to make consumers aware that animportant component of any computer is the quality of the microprocessor (computer chip) thatmakes the machine work. They negotiated wit
S.F. State - MKTG - 431
MiniTest 07: Chapters 13 &amp; 1401. An inverse demand curve is usually associated with luxury or prestige goods. With an inversedemand curve, within a certain range of prices.a. There is no limit to the quantity demanded.b. An increase in price will lead
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MiniTest 08: Chapters 15 &amp; 1601. According to your instructor, what is one of the issues in creating a channel of distributionNOT normally covered in business courses?a. Direct versus indirect channels of distributionb. The need to match the channel t
S.F. State - MKTG - 431
MiniTest 09: Chapters 17 &amp; 1801. In class we talked about how merchandise assortments can be described in terms of breadthand depth. How would you classify Barnes and Noble bookstore - a large retailer that carrieshundreds of books in several different
S.F. State - MKTG - 431
MiniTest 10: Chapters 19 &amp; 2001. The thing that distinguishes advertising from public relations is that advertisingcommunications are _?a. Persuasiveb. Mass communicationsc. Message-centeredd. Sent over a mediume. Sponsor identified02. The &quot;Wheel
S.F. State - MKTG - 431
MiniTest 11 : Chapters 03 &amp; 0401. Which of the following is NOT a question suggested by ethical legal framework forevaluating marketing decisions discussed in class?a. Can I go to jail if I do it?b. Is it legal?c. is this the right thing to do?d. Is
S.F. State - MKTG - 431
MiniTest12 : Chapters 2 &amp; 2201. What is the relationship between a SWOT analysis and an environmental scan?a. The environmental scan identifies issues that are relevant to the strategic planningprocess; the SWOT analysis evaluates key issues in terms o
S.F. State - MKTG - 431
MiniTest13 Marketing 3.001. Which of the followin would be considered a horizontal relationship as described inMarketing 3.0?a. A recommendation on Linked Inb. Protesters occupying Wall Streetc. All of these are horizontal relationshipsd. A friend o
S.F. State - MKTG - 431
Study Guide for Lecture 1 Overview &amp; Chapter 1What is Marketing?Philosophy*Two approaches:*A philosophy, attitude, perspective*Focus on customer satisfaction*Draws on economics and social psychology*How people make decisions*What makes people happ
S.F. State - MKTG - 431
Study Guide for Lecture 2 Chapter 5 - Consumer Behavior 2What is a consumerA persono Unmet needso Purchases things for personal consumptiono Receives benefit from the productUniqueo No two people are alikeThe Consumer Buying ProcessPurchasing is
S.F. State - MKTG - 431
Lecture 3 Consumer Markets II Chapter 5Factors that influence buying*Purchasing is problem solving*Consumers are not rational*Otherwise, everybody would be using Macintosh*Behavioral economics*Behavior is biased*The reason marketing is so difficult
S.F. State - MKTG - 431
Lecture 4 Business Markets Chapter 6What is a business consumer*Definition:Business marketing is the marketing of goods and services to companies, governments or not-forprofit organizations for use in goods and services that they can produce and market
S.F. State - MKTG - 431
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Lecture 6 Target Marketing 2 Chapter 9Positioning*Definition*Developing a specific marketing mix to influence potential customers overall perception of abrand, product line, or organization in general.*According to Ries and Trout*Consumers organize
S.F. State - MKTG - 431
Lecture 7: Market Research I Chapter 8DefinitionsDecisionAconsciouschoicefromamongtwoormorealternatives Therehastobemorethanoneoption YoumusttakedifferentcoursesofactionforeachalternativeMarketResearchTheprocessofplanning,collecting,andanalyzingdat
S.F. State - MKTG - 431
Lecture 8: Market Research II Chapter 8DefinetheproblemSetresearchobjectivesDescriptive AnswerspecificquestionsCausal Proveit ControlledexperimentResearchobjective Provideinformation AnsweraspecificquestionExploratory Whatarethequestionsweshou
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Lecture 9: Product Development I Chapter 10What is a ProductDefinitionTextbook*Product: A good, service or idea consisting of a bundle of tangible and intangible attributes thatsatisfies consumers and is received in exchange for money or some other u
S.F. State - MKTG - 431
Lecture 10 Product Management Chapter 11Product Life Cycle*Concept that explains how products go through four distinct stages from birth to death: introduction, growth,maturity and decline*Aggregate demand over the lifetime of a product*Applies to ge
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Lecture 11: Branding Chapter 11The ABCs of brandingWhat is a brand*Brand name*A name, term, symbol, design, or combination thereof that identifies a sellers products anddifferentiates them from competitors products*Trade name*The name under which a
S.F. State - MKTG - 431
Lecture 12: Services Chapter 12Why do a separate lecture*We talked about the product/service bundle*All products have a service component*Standard marketing principles apply*4 ps*However, when the product is primarily intangible, there are some uniq
S.F. State - MKTG - 431
Lecture 13: Price Theory Chapter 13What is Price*The element of the marketing mix that determines how much money you make*Too low give money away*Too high drive customers away*Textbook: The money or other considerations (including other products and
S.F. State - MKTG - 431
Lecture 14: Price Strategy Chapter 14Legal Issues*Price fixing*Horizontal price fixing*Sherman antitrust act*Temptation for oligopolies*Price signaling*Vertical price fixing*Consumer Goods Pricing Act*Manufacturers cannot dictate prices to retail
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Lecture 15: Distribution 1 Chapter 15What is a channel*Channel of Distribution (Marketing Channel)Individuals and firms involved in the process of making a product or service available for use or consumption byconsumers or industrial users*Always inc
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Indian Institute of Technology, Madras - APPLIED ME - AM110
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Indian Institute of Technology, Madras - APPLIED ME - AM110
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Indian Institute of Technology, Madras - APPLIED ME - AM110
Indian Institute of Technology, Madras - APPLIED ME - AM110
Indian Institute of Technology, Madras - APPLIED ME - AM110
Indian Institute of Technology, Madras - APPLIED ME - AM110
Indian Institute of Technology, Madras - APPLIED ME - AM110
Indian Institute of Technology, Madras - APPLIED ME - AM110
Indian Institute of Technology, Madras - APPLIED ME - AM110
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