ACCT 611 Final

ACCT 611 Final - ACCT 611 Final Examination Contents: Item...

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ACCT 611 Final Examination Contents: Item Points Your score Multiple choice 15% Essays 34% Problems 51% Total 100% Instructions: Answers should be prepared using Word or Excel as appropriate. The test should be submitted in the assignments area of the classroom for purposes of confidentiality. Take as long as you like to complete the test, so long as you submit your answers by the deadline. You may use resources such as your text as you prepare the test. You may ask questions of the professor, but may not consult with any other person. Evidence of collaboration will lead to a grade of zero. 1 | P a g e
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Multiple Choice Questions-One points each Choose the BEST answer Answer the following questions using the information below: Grant's Kitchens is approached by Ms. Tammy Wang, a new customer, to fulfill a large one-time-only special order for a product similar to one offered to regular customers. The following per unit data apply for sales to regular customers: Direct materials $ 455 Direct labor 300 Variable manufacturing support 45 Fixed manufacturing support 100 Total manufacturing costs 900 Markup (60%) 540 Targeted selling price $1440 Grant's Kitchens has excess capacity. Ms. Wang wants the cabinets in cherry rather than oak, so direct material costs will increase by $30 per unit. 1) For Grant's Kitchens, what is the minimum acceptable price of this one-time-only special order? A) $830 B) $930 C) $785 D) $1,440 2) Other than price, what other items should Grant's Kitchens consider before accepting this one-time-only special order? A) reaction of shareholders B) reaction of existing customers to the lower price offered to Ms. Wang C) demand for cherry cabinets D) price is the only consideration 3) If Ms. Wang wanted a long-term commitment for supplying this product, this analysis: A) would definitely be different B) may be different C) would not be different D) does not contain enough information to determine if there would be a difference 4) The purpose of the balanced scorecard is BEST described as helping an organization: A) develop customer relations B) mobilize employee skills for continuous improvements in processing capabilities, quality, and response times C) introduce innovative products and services desired by target customers D) translate an organization's mission and strategy into a set of performance measures that help to implement the strategy 2 | P a g e
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Answer the following questions using the information below: Riter Corporation manufactures water toys. It plans to grow by producing high-quality water toys at a low cost that are delivered in a timely manner. There are a number of other manufacturers who produce similar water toys. Riter believes that continuously improving its manufacturing processes and having satisfied employees are critical to implementing its strategy. 5) Riter's strategy is:
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ACCT 611 Final - ACCT 611 Final Examination Contents: Item...

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