Archives: Quiz
Accounting Chapter 4a Chapter 4a_version1 Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for August using the first-in, first-out method
Version 1 1 Student name:__________ 1) Lenning Corporation uses the first-in, first-out method in its process costing. The following data pertain to its Assembly Department for August. Percent Complete Units Materials Conversion Work in process, August 1 950 40% 30% […]
Accounting Chapter 3a Chapter 3a_version1 At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold
Version 1 1 Student name:__________ 1) Venzke Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold. Its […]
Accounting Chapter 2b Chapter 2b_version1 The management of Michaeli Corporation would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity
Version 1 1 Student name:__________ 1) The management of Michaeli Corporation would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity rather than on the estimated amount of activity for the year. The company’s […]
Accounting Chapter 2a Chapter 2a_version1 Werger Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours
Version 1 1 Student name:__________ 1) Werger Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs). The company has two products, W82R and […]
Accounting Chapter 16 Chapter 16_version1 The company’s founders have run the company for thirty years and are now interested in retiring
Version 1 1 Student name:__________ 1) Excerpts from Candle Corporation’s most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 170 $ 100 Accounts receivable, net 200 200 Inventory 150 140 Prepaid […]
Management Chapter 17 1 Topics First order Markov Processes 16 The Sum The Probabilities Transition Matrix Equals
Chapter 17 – Markov Processes Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Markov processes use historical probabilities. a. True b. False ANSWER: True POINTS: 1 TOPICS: Market share analysis 2. All entries in a matrix […]
Accounting Chapter 15 Chapter 15_version1 The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year
Version 1 1 Student name:__________ 1) Burns Corporation’s net income last year was $97,400. Changes in the company’s balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents $ 22,700 Accounts receivable […]
Management Chapter 16 2 The Rose Warehouse buys roses each week from Panama. A toll‑free long distance call is made on Saturday night
Chapter 16 – Simulation Cengage Learning Testing, Powered by Cognero Page 12 Over 2 months in advance .40 2 months to 6 months in advance .40 Over 6 months In advance .13 Flight Type Rel. Freq. RN Range Domestic .65 […]
Management Chapter 16 1 Simulation 14 Using Simulation Perform Risk Analysis Like Playing Out Many What if
Chapter 16 – Simulation Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Simulation is an excellent technique to use when a situation is too complicated to use standard analytical procedures. a. True b. False ANSWER: True […]
Accounting Chapter 14 Chapter 14_version1 The management of Nixon Corporation is investigating purchasing equipment that would cost $540,000 and have a 7 year life with no salvage value
Version 1 1 Student name:__________ 1) The management of Truelove Corporation is considering a project that would require an initial investment of $349,000 and would last for 7 years. The annual net operating income from the project would be $29,400, […]
Management Chapter 15 1 Waiting Line Models 14 For Single channel Waiting Line The Utilization Factor
Chapter 15 – Waiting Line Models Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. For an M/M/1 queuing system, if the service rate, µ, is doubled, the average wait in the system, W, is cut in […]
Accounting Chapter 12 Chapter 12_version1 An increase in appraisal costs in a quality improvement program would usually have the following initial effects on internal and external failure costs
Version 1 1 Student name:__________ 1) Galaviz Company’s quality cost report is to be based on the following data: Net cost of spoilage $ 86,000 Test and inspection of in-process goods $ 32,000 Supplies used in testing and inspection $ […]
Management Chapter 14 1 56 Gourmet Food Store Uses One week Periodic Review System For Its Supply
Chapter 14 – Inventory Models Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. To be considered as inventory, goods must be finished and waiting for delivery. a. True b. False ANSWER: False POINTS: 1 TOPICS: Introduction […]
Accounting Chapter 11 Chapter 11_version1 The company has a Safety Products Division that could use this sensor in one of its products. The Safety Products Division is currently purchasing 8,000
Version 1 1 Student name:__________ 1) Gabbe Industries is a division of a major corporation. Last year the division had total sales of $24,048,000, net operating income of $2,765,520, and average operating assets of $6,012,000. The company’s minimum required rate […]
Management Chapter 13 2 Start Finish The Three time Estimate Approach Was Used Calculate The Expected Times
Chapter 13 – Project Scheduling Cengage Learning Testing, Powered by Cognero Page 18 G 10 8 5,000 8,000 If a deadline of 17 weeks is imposed, give the linear programming model for the crashing decision. ANSWER: Let Ei = the […]
Accounting Chapter 10 Chapter 10_version1 Beck a Incorporated has provided the following data concerning one of the products in its standard cost system
Version 1 1 Student name:__________ 1) The following standards have been established for a raw material used to make product O84: Standard quantity of the material per unit of output 8.3 meters Standard price of the material $ 19.50 per […]
Management Chapter 13 1 The length of time an activity can be delayed without affecting the project completion time is the slack
Chapter 13 – Project Scheduling Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Critical activities are those that can be delayed without delaying the entire project. a. True b. False ANSWER: False POINTS: 1 TOPICS: Introduction […]
Accounting Chapter 9 Chapter 9_version1 Rivero Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished
Version 1 1 Student name:__________ 1) Shiigi Urban Diner is a charity supported by donations that provides free meals to the homeless. The diner’s budget for May is to be based on 3,310 meals. The diner’s director has provided the […]
Management Chapter 12 1 The goal of portfolio models is to create a portfolio that provides the best balance between risk and return
Chapter 12 – Advanced Optimization Applications Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Revenue management methodology was originally developed for the banking industry. a. True b. False ANSWER: False POINTS: 1 TOPICS: Revenue management 2. […]
Accounting Chapter 8 Chapter 8_version1 Craney Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations
Version 1 1 Student name:__________ 1) At March 31 Streuling Enterprises, a merchandising firm, had an inventory of 38,000 units, and it had accounts receivable totaling $85,000. Sales, in units, have been budgeted as follows for the next four months: […]
Management Chapter 11 2 Points Topics Applications Integer Linear Programming 52 Consider The Problem Faced Summer
Chapter 11 – Integer Linear Programming Cengage Learning Testing, Powered by Cognero Page 12 Tulsa 350,000 9 4 3 10,000 St. Louis 200,000 12 6 2 10,000 Portland 480,000 4 10 11 10,000 Demand 3,000 8,000 9,000 Develop a model […]
Accounting Chapter 7 Chapter 7_version1 The “Other” activity cost pool consists of the costs of idle capacity and organization-sustaining costs that are not assigned to products
Version 1 1 Student name:__________ 1) Daher Corporation manufactures two products: Product A34R and Product E05V. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of […]
Management Chapter 11 1 In general, rounding large values of decision variables to the nearest integer value causes fewer problems than rounding small values
Chapter 11 – Integer Linear Programming Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. The LP Relaxation contains the objective function and constraints of the IP problem, but drops all integer restrictions. a. True b. False […]
Accounting Chapter 6 Chapter 6_version1 Ing Succulent Juice Corporation manufactures and sells premium tomato juice by the gallon. Succulent just finished its first year of operations
Version 1 1 Student name:__________ 1) Boylston Corporation has provided the following data for its two most recent years of operation. The company makes a product that it sells for $75 per unit. It began Year 1 with no units […]
Management Chapter 10 2 Consider the following shortest-route problem involving seven cities. The distances between the cities are given below
Chapter 10 – Distribution & Network Models Cengage Learning Testing, Powered by Cognero Page 16 b. Formulate this problem as a transshipment linear programming model. ANSWER: a. b. Denote A1 as node 1, A2 as node 2, S1 as node […]
Accounting Chapter 5 Chapter 5_version1 Lang in Corporation has provided the following contribution format income statement. All questions concern situations that are within the relevant range
Version 1 1 Student name:__________ 1) Giannini Incorporated, which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) $ 285,000 Variable expenses 150,000 Contribution margin 135,000 Fixed expenses 104,000 Net […]
Management Chapter 10 1 52 Whenever total supply is less than total demand in a transportation problem, the LP model does not determine how the unsatisfied demand is handled.
Chapter 10 – Distribution & Network Models Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Whenever total supply is less than total demand in a transportation problem, the LP model does not determine how the unsatisfied […]
Accounting Chapter 4 Chapter 4_version1 Miller Corporation manufactures a product for which materials are added at the beginning of the manufacturing process
Version 1 1 Student name:__________ 1) Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. 1. (1) Raw materials that cost $40,500 are withdrawn from the storeroom for use in the Mixing Department. […]
Management Chapter 9 2 The Strategic Investment Corporation is developing a mix of investments to meet the needs of a client with one million dollars to invest
Chapter 9 – LP Applications Cengage Learning Testing, Powered by Cognero Page 15 a. After adjusting for expected occupancy, the average nightly revenue for a beachfront non-smoking room is $175. The average nightly revenue for a lagoon view non-smoking room […]
Accounting Chapter 3 Chapter 3_version1 The Collins Corporation uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of the cost of materials used in production
Version 1 1 Student name:__________ 1) The Simkins Corporation uses a job-order costing system. The following activities took place during the month of May: a.Raw materials purchased $40,000 b.Raw materials (all direct) used in production $35,000 c.Salaries and wages costs: […]
Management Chapter 9 1 Media selection problems can maximize exposure quality and use number of customers reached as a constraint
Chapter 9 – LP Applications Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Media selection problems can maximize exposure quality and use number of customers reached as a constraint, or maximize the number of customers reached […]
Accounting Chapter 2 Chapter 2_version1 Trevigne Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year
Version 1 1 Student name:__________ 1) Linnear Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours […]
Management Chapter 8 2 52 The Decision Variables Represent The Amounts Ingredients And Put Into Blend
Chapter 8 – LP Sensitivity Analysis Cengage Learning Testing, Powered by Cognero Page 16 VARIABLE CURRENT COEFFICIENT ALLOWABLE INCREASE ALLOWABLE DECREASE X1 12.000000 INFINITY 4.000000 X2 10.000000 5.000000 10.000000 X3 9.000000 INFINITY 4.000000 RIGHTHAND SIDE RANGES ROW CURRENT RHS ALLOWABLE […]
Accounting Chapter 1 Chapter 1_version1 The three cost elements ordinarily included in product costs are direct materials, direct labor, and manufacturing overhead
Version 1 1 Student name:__________ 1) Dobosh Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 7.05 Direct labor $ 3.65 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 113,400 Sales commissions $ […]
Management Chapter 8 1 Classical sensitivity analysis provides no information about changes resulting from a change in the coefficient of a variable in a constraint.
Chapter 8 – LP Sensitivity Analysis Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Classical sensitivity analysis provides no information about changes resulting from a change in the coefficient of a variable in a constraint. a. […]
Management Chapter 7 2 Muir Manufacturing produces two popular grades of commercial carpeting among its many other products
Chapter 7 – Intro to Linear Programming Cengage Learning Testing, Powered by Cognero Page 14 54. The Sanders Garden Shop mixes two types of grass seed into a blend. Each type of grass has been rated (per pound) according to […]
Management Chapter 7 1 In a linear programming problem, the objective function and the constraints must be linear functions of the decision variables
Chapter 7 – Intro to Linear Programming Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Increasing the right-hand side of a nonbinding constraint will not cause a change in the optimal solution. a. True b. False […]
Management Chapter 6 2 The number of properties newly listed with a real estate agency in each quarter over the last four years is given below. Assume the time series has seasonality without trend.
Chapter 6 – Time Series Analysis & Forecasting Cengage Learning Testing, Powered by Cognero Page 12 50. The number of properties newly listed with a real estate agency in each quarter over the last four years is given below. Assume […]
Management Chapter 6 1 Quantitative forecasting methods can be used when past information about the variable being forecast is unavailable
Chapter 6 – Time Series Analysis & Forecasting Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Time series methods base forecasts only on past values of the variables. a. True b. False ANSWER: True POINTS: 1 […]
Management Chapter 5 1 When monetary value is not the sole measure of the true worth of the outcome to the decision maker, monetary value should be replaced by utility
Chapter 5 – Utility & Game Theory Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. The decision alternative with the best expected monetary value will always be the most desirable decision. a. True b. False ANSWER: […]
Management Chapter 4 2 Use graphical sensitivity analysis to determine the range of values of the probability of state of nature s1 over which each of the decision
Chapter 4 – Decision Analysis Cengage Learning Testing, Powered by Cognero Page 15 a. d2 b. d3 c. d1 d. EV(d1) = 695 (the best) EV(d2) = 385 EV(d 3) = 500 e. EVPI = 925 − 695 = 230 […]
Management Chapter 4 1 Decision alternatives are structured so that several could occur simultaneously
Chapter 4 – Decision Analysis Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Sample information with an efficiency rating of 100% is perfect information. a. True b. False ANSWER: True POINTS: 1 TOPICS: Efficiency of sample […]
Management Chapter 3 1 A random variable that can take on any value along a line segment is a continuous random variable
Chapter 3 – Probability Distributions Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Experimental outcomes must occur as numerical values in order to define their probability distribution. a. True b. False ANSWER: False POINTS: 1 TOPICS: […]
Management Chapter 2 1 If 50 of 250 people contacted make a donation to the city symphony, then the relative frequency method assigns a probability of .2 to the outcome of making a donation
Chapter 2 – Introduction to Probability Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. Two events that are independent cannot be mutually exclusive. a. True b. False ANSWER: False POINTS: 1 TOPICS: Basic relationships of probability […]
Management Chapter 2 2 After Finding That The First Part Was Defective Suppose Second Part From
Chapter 2 – Introduction to Probability Cengage Learning Testing, Powered by Cognero Page 12 POINTS: 1 TOPICS: Conditional probability 61. The following probability model describes the number of snow storms for Washington, D.C. for a given year: Number of Storms […]
Management Chapter 1 1 False Answer True Points Topics Quantitative Analysis 16 Quantitative Analysis The Optimal
Chapter 1 – Introduction Cengage Learning Testing, Powered by Cognero Page 1 True / False 1. The process of decision making is more limited than that of problem solving. a. True b. False ANSWER: True POINTS: 1 TOPICS: Problem solving […]
Banking Chapter 25 1 Answer Ques Status Previous Edition Reflective Thinking The Interest Rate Thought
Copyright © 2019 Pearson Education, Ltd. Economics of Money, Banking, and Financial Markets, 12e, Global Editions (Mishkin) Chapter 25 The Role of Expectations in Monetary Policy 25.1 Lucas Critique of Policy Evaluation 1) Whether one views the discretionary policies of […]
Banking Chapter 24 1 Answer The disruption to financial markets starting in August 2007 that caused both consumer and business spending to fall
Copyright © 2019 Pearson Education, Ltd. Economics of Money, Banking, and Financial Markets, 12e, Global Edition (Mishkin) Chapter 24 Monetary Policy Theory 24.1 Response of Monetary Policy to Shocks 1) Policy makers cannot achieve both price stability and economic activity […]
Banking Chapter 23 2 Suppose the economy is producing at the natural rate of output and the government passes legislation that severely restricts a company’s ability
Copyright © 2019 Pearson Education, Ltd. 15) Using the aggregate demand-aggregate supply model, explain and demonstrate graphically the short-run and long-run effects of an increase in the money supply. 15 Answer: See figure below. An increase in the money supply […]
Banking Chapter 23 1 Answer The total quantity of an economy’s final goods and services demanded at different inflation rates is
Copyright © 2019 Pearson Education, Ltd. Economics of Money, Banking, and Financial Markets, 12e, Global Edition (Mishkin) Chapter 23 Aggregate Demand and Supply Analysis 23.1 Aggregate Demand 1) The aggregate demand curve is the total quantity of an economy’s A) […]