Exam #3
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:
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 Spring '10
 Dusansky
 Net Present Value, PAYBACK PERIOD, d., B.

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