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Chapter 5 Quiz
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CHAPTER 5 - Pricing Methods
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Chapter 5 Quiz
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Menu engineering is a method of analysis that focuses on each menu item’s:
Select one:
a. Contribution margin and popularity.
b. Contribution margin and fixed costs.
c. Variable costs and popularity.
d. Fixed costs and variable costs.
Your answer is incorrect.
Explanation: Menu engineering is a method of analysis that focuses on each menu item’s contribution margin and
popularity.
The correct answer is: Contribution margin and popularity.
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Convert 30% to a decimal.
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A boutique buys some merchandise with a list price of $2,400. If the wholesaler extends a 30% trade discount rate, find the trade discount.
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Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of
the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
connect
Owner invested $66,500 in exchange for common stock of the corporation.
Hired an employee to be paid $500 per week, starting tomorrow.
Paid two years' rent in advance, $7,100.
Paid the worker's weekly wage.
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What is the holding period return for the year on a bond with a par value of $1,000 and a coupon rate of 8.5% if its price at the
beginning of the year was $1,215 and its price at the end of the year was $1,020? Assume interest is paid annually.
Multiple Choice
-11.00%
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Question 15
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Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total
materials costs are $91000. How much is the conversion cost per unit?
O $17.52.
O $4.70.
$12.82.
O $30.33
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Blondell Legal Services, Limited Liability Company, uses the step-down method to allocate service department costs to operating departments. The firm has two
service departments, Personnel and Information Technology (IT), and two operating departments, Family Law and Corporate Law. Data concerning those
departments follow:
Service Department
Operating Department
Information
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Family Law
$ 357,020
Corporate Law
$ 360, 340
Personnel
Technology
Departmental costs
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$ 42,210
12
$ 44,782
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Labor Variances.
Verde Company produces wheels for bicycles. During the year, 656,000 wheels were produced. The actual labor used was 364,000 hours at $9.20 per hour. Verde
has the following labor standards: 1) $10.40 per hour; 2) 0.48 hour per wheel.
Required:
1. Compute the labor rate variance.
2. Compute the labor efficiency variance.
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Supply the missing dollar amounts for each of the following independent cases:
Sales
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Cost of Goods
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Goods Sold
Cases
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1,350
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750
1,350
660
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650
750
850
950
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1,150
1,200
800
1,550
600
1.450
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Suppose Easton Company reported net receivables of $2,582 million and $2,260 million at January 31,
2019, and 2018, respectively, after subtraction allowances of $72 million and $67 million respectively.
Easton earned total revenue of $43,333 million (all on account) and recorded uncollectible account
expense of $13 million for the year ended January 31, 2019. Use the following T accounts to sort out
your answer.
1. Use this information to measure the following amounts for the year ended January 31, 2019.
a. Write-off of uncollectible receivables.
b. Collection from customers
Allowance for Uncollectible Accounts
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Use the Excel Template File to answer Problem 1 and Problem 2
Exam II Excel Template File. Problem1 and Problem2.xlsx
nnouncements
The accounts listed below for the year ended 2021, in random order, are for Polanyi Knowledge, Inc.
Construct a classified balance sheet for the business in good form.
yllabus
Modules
Cash
32,900
Discount on bonds payable
103.000
rades
Accumulated depreciation-Buildings 630,600
Wages payable
92,000
eople
Accounts Receivable
90,200
Note payable due 2023
300,000
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Taxes payable
27,000
Retained earnings
980,000
Inventory
180,000
Bonds payable
500,000
Additional paid in capital common
Common stock
264,400
150,000
stock
Long-term investments
77,000
Preferred stock
110,000
Buildings
1,500,000
Accounts payable
167.000
Additional paid in capital preferred
Accumulated depreciation:
13,400
stock
210,000
equipment
Equipment
760,000
Land
310,600
Prepaid…
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Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations
09 Operational and Legal Considerations -
>
Calculating Capacity
• How many machines do you need?
• You expect your sales to be
3,000,000 granola bars (20g each)
• How large is your plant?
per month
• How many workers do you need?
The machine:
• How much is the investment?
Capacity: 100 kgs per hour
• What are the operating costs?
Requires 2 people to operate it
Takes 8 ft x 40 ft space
• Cost per machine $15,000
Energy and maintenance: $5 per hour
• Cost of material and packaging:
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is estimated to be $10,400. Income taxes are estimated to be $208,000.
Prepare a budgeted multiple-step income statement for the year ending December 31, 2022.
CRANE COMPANY
Budgeted Income Statement
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Exercise 17-42 (Algo) Taguchi Quality Loss Function (QLF) Analysis [LO 17-4]
Flextronchip, an OEM manufacturer, has a fifth-generation chip for cell phones, with chip specification of 0.2 ± 0.0002 mm for the
distance between two adjacent pins. The loss due to a defective chip has been estimated as $20.
Required:
1. Compute the value of k, the cost coefficient in the Taguchi quality loss function (QLF), L(x) = (x-7)².
2. Assume that the quality control manager takes a sample of 100 chips from the production process. The results are as follows:
Measurement
Frequency
3
0.1996
0.1997
5
0.1998
15
0.1999
14
0.2000
35
0.2001
14
0.2002
6
0.2003
5
0.2004
3
a. & b. Use the appropriate Taguchi quality loss function, L(x), to calculate the estimated quality loss for each of the observed
measurements.…
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Problem 6-26 Calculating Annuity Present Values [LO1]
Beginning three months from now, you want to be able to withdraw $2,400 each quarter
from your bank account to cover college expenses over the next three years. If the
account pays 46 percent interest per quarter, how much do you need to have in your.
bank account today to meet your expense needs over the next three years? (Do not
round intermediate calculations and round your answer to 2 decimal places, e.g.,
32.16.)
Present value
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- Students e 5.6 Connect: Quiz - 4W12020 Fin x O Question 5 - 5.6 Connect: Quiz - mheducation.com/ext/map/index.html?_con=con&external_browser0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddl.. ct: Quiz i Saved Help Save & Exit What is the holding period return for the year on a bond with a par value of $1,000 and a coupon rate of 8.5% if its price at the beginning of the year was $1,215 and its price at the end of the year was $1,020? Assume interest is paid annually. Multiple Choice -11.00% -10.78% --9.05% 10.50% O O O 0arrow_forwardP7arrow_forward+V My Questions | bartleby b References Chapter 3 Quiz Camden County College camdenccinstructure.com/courses/3788/assignments/35967?module_item id=88693| Next> K Prev Send to Gradebook Submitted to Gradebook, Fri, Oct 4, 2019, 9:34:35 AM (America/New York -04:00) --/1 Question 15 View Policies Current Attempt in Progress Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total materials costs are $91000. How much is the conversion cost per unit? O $17.52. O $4.70. $12.82. O $30.33 eTextbook and Media Submit Answer Save for Later Attempts: 0 of 1 used 11:10 A 10/4/20 hp ins prt sc end home f12 11 DI delete f9 f8 f7 f6 fs 10 + & % num backspace 6 7 lock 5 { P T U Y II 96arrow_forward
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