Web Exam 3 - Exam #3 Once you have completed the exam...

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Once you have completed the exam below, you must enter your answers on the answer sheet provided in the Assignments section of Blackboard. Fill in the blank answers should be entered using numeric characters without a dollar sign, comma or decimal point unless specified otherwise. Although you can “Save” your answers while working, you must “Submit” them to get credit for the exam. Once submitted, your answers cannot be changed. Use the time value of money tables located in Appendix B of the textbook; otherwise, you should round your factor to the nearest 4 decimals places. Your final answer should be rounded to the nearest whole number. Your answer sheet is due by 9pm on Thursday, May 7, 2009; print or save your conformation page to verify that your exam was successfully submitted. 01. A planning budget based on a single predicted amount of sales or production volume is called a: A. Sales budget. B. Standard budget. C. Flexible budget. D. Fixed budget. E. Variable budget. 02. Helms Company is considering making an investment that will return $5,000 annually for 5 years as well as an additional $10,000 at the end of the five years. If the company’s required rate of return is 8 percent, how much should the company pay for the investment? Answer 03. The Harris Park Company established 5 pounds of wood at $2 per pound as the standard for the material in its picture frames. The company has just produced 1,000 frames using 5,200 pounds of wood that cost $9,880. The direct materials quantity variance is: A. $400 unfavorable. B. $120 favorable. C. $400 favorable. D. $520 favorable. E. $520 unfavorable. 04. You recently borrowed $32,000 to purchase a new boat and agreed to make annual payments on your loan of $6,713.52 for 6 years. What is the interest rate on your loan? A. 5% B. 6% C. 7% D. 8% E. Cannot be determined 05. When you were 6 years old your grandparents opened a savings account in your name at a local bank and made a deposit of $1,800. If the bank pays 4% interest on your account, how much was in your account when you turned 18 years old? Answer
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This note was uploaded on 02/16/2010 for the course ECONOMICS 420K taught by Professor Dusansky during the Spring '10 term at University of Texas at Austin.

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Web Exam 3 - Exam #3 Once you have completed the exam...

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