ACCT 434 Week 3 Cost Behavior Decision Making Quality
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<strong>ACCT</strong> <strong>434</strong> <strong>Week</strong> 3 <strong>Cost</strong> <strong>Behavior</strong> <strong>Decision</strong><br />
<strong>Making</strong> <strong>Quality</strong><br />
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<strong>434</strong>-devry/acct-<strong>434</strong>-week-3-costbehavior-decision-making-quality<br />
1.<br />
Question :<br />
(TCO 3) Dougherty Company employs 20 individuals. Eight employees are paid<br />
$12 per hour and the rest are salaried employees paid $3,000 a month. How would<br />
total costs of personnel be classified?<br />
2.<br />
Question :<br />
(TCO 3) For January, the cost components of a picture frame include $0.35 for the<br />
glass, $0.65 for the wooden frame, and $0.80 for assembly. The assembly desk<br />
and tools cost $400. A total of 1,000 frames is expected to be produced in the<br />
coming year. What cost function best represents these costs?<br />
3.<br />
Question :<br />
(TCO 3) Which cost estimation method uses a formal mathematical method to<br />
develop cost functions based on past data?<br />
4.<br />
Question :<br />
(TCO 3) Penny's TV and Appliance Store is a small company that has hired you to<br />
perform some management advisory services. The following information pertains<br />
to 20X8 operations: Sales (2,000 televisions) $900,000; <strong>Cost</strong> of goods sold<br />
$400,000; Store manager's salary per year $70,000; Operating costs per year<br />
$157,000; Advertising and promotion per year $15,000; Commissions (4% of<br />
sales) $36,000. What are the estimated total costs if Penny's expects to sell 3,000<br />
units next year?<br />
5.<br />
Question :
(TCO 4) The formal process of choosing among alternatives is known as a(n)<br />
6.<br />
Question :<br />
(TCO 4) When using the five-step decision process, which one of the following<br />
steps should be done last?<br />
7.<br />
Question :<br />
(TCO 4) Sunk costs<br />
8.<br />
Question :<br />
(TCO 4) Northwoods Incorporated manufactures rustic furniture. The cost<br />
accounting system estimates manufacturing costs to be $90 per table, consisting<br />
of 80% variable costs and 20% fixed costs. The company has surplus capacity<br />
available. It is Northwoods' policy to add a 50% markup to full costs. A large hotel<br />
chain is currently expanding and has decided to decorate all new hotels using the<br />
rustic style. Northwoods is invited to submit a bid to the hotel chain. What is the<br />
lowest price per unit Northwoods should bid on this long-term order?<br />
9.<br />
Question :<br />
(TCO 5) Throughput contribution equals revenues minus<br />
10.<br />
Question :<br />
(TCO 5) A machine has been identified as a bottleneck and the source of the<br />
constraint for a manufacturing company that has multiple products and multiple<br />
machines. One way the company can overcome the bottleneck is<br />
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