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Chapter 4 Quiz
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CHAPTER 4 - Cost-Volume-Profit Analysis
/ Chapter 4 Quiz
Question 10
Correct
Mark 1.00 out of
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A cost-volume-profit graph:
Select one:
a. does not aid managers in understanding the relationship among costs, volume and profits.
b. can be used to identify period costs
c. can be used to identify the break-even point.
d. can be used to identify the relationship between direct and indirect costs
Your answer is correct.
Explanation: Cost-volume-profit graphs help managers understand costs, volume and operating profit (or loss). It can be
used to identify the break-even point.
The correct answer is: can be used to identify the break-even point.
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Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of
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Cullumber Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to
accrue interest except at December 31.
r.com: 24/7 On-
Tutoring
Nov. 1 Loaned $53,400 cash to C. Bohr on a 12-month, 9% note.
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Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 8% note.
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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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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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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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Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations
09 Operational and Legal Considerations -
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Calculating Capacity
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per month
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ESTIMATED PROFIT AND LOSS ACCOUNT (INCOME STATEMENT) FOR KARACHI
TRADERS LTD
$
Revenue (5000 units @ $3.00)
15000
Cost of goods sold (@ $1.00 per unit)
Gross profit
5000
10000
Overhead expenses
4000
Operating profit (profit before tax and interest)
6000
Finance costs (interest)
2000
Profit before tax
4000
Corporation tax @ 20%
Profit for the year
800
3200
Dividends paid
1200
Retained profit
2000
Profit and loss account for Karachi Traders Ltd for the year ending 31 December 2014
20 marks, 40 minutes
1. By amending this profit and loss account (income statement), calculate the new
level of retained profits if the following changes actually occurred:
• each unit was sold…
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A process with no beginning work in process, completed and transferred out 85200 units during a period and had 50100 units in the
ending work in process inventory that were 20% complete. The equivalent units of production for the period for conversion costs were:
O 95220 equivalent units.
O 135300 equivalent units.
O 70200 equivalent units.
O 85200 equivalent units.
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As part of its commitment to quality, the J. J. Borden manufacturing company is proposing to introduce just-in-time (JIT) production
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Item
Manufacturing costs as percentage of sales:
Product-level support
Variable manufacturing overhead
Direct materials
Direct manufacturing labor
Other Financial Data:
Sales revenue
Inventory of WIP
Other Data:
Manufacturing cycle time
Inventory financing costs (per annum)
Required:
Existing Situation
After Adopting JIT
11%
4%
29
11
31
21
23
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$ 1,385,000
215,000
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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
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The following are a series of unrelated situations.
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Answer the questions relating to each of the five independent situations as requested.
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Allowance for doubtful accounts
Debit
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Exercises 18-41 (Algo) Allocation of Central Costs; Profit Centers [LO 18-3]
Woodland Hotels Incorporated operates four resorts in the heavily wooded areas of northern California. The resorts are named after
the predominant trees at the resort: Pine Valley, Oak Glen, Mimosa, and Birch Glen. Woodland allocates its central office costs to each
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were as follows:
Front office personnel (desk, clerks, etc.)
Administrative and executive salaries
Interest on resort purchase
Advertising
Housekeeping
Depreciation on reservations computer
Room maintenance
Carpet-cleaning contract
Contract to repaint rooms
$ 12,100
5,700
4,700
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3,700
80
1,210
50
570
$ 28,710
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Under the accrual basis of accounting, if cash is received prior to the sale, then.
Revenue is recognized when cash is received
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O Revenue is removed from the system when the services have been performed or the goods have
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Exercise 17-44 (Algo) Taguchi Quality Loss Function (QLF) Analysis [LO 17-4]
Duramold specializes in manufacturing molded plastic panels to be fitted on car doors. The blueprint specification for the thickness of
a high-demand model calls for 0.1910 ± 0.0020 inch. It costs $155 to manufacture and $185 to scrap a part that does not meet these
specifications. The thickness measure for the unit just completed is 0.1928 inch.
Required:
1. Use the Taguchi quality loss function, L(x), to determine:
a. The value of the cost coefficient, k. (Do not round intermediate calculations. Round your answer to the nearest whole dollar
amount.)
b. The estimated loss (total quality cost) for the unit just completed, that is, the dollar amount for L(x) where x=0.1928. (Do not round
intermediate calculations. Round…
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er 6 Homework Assignment i
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Supply the missing dollar amounts for each of the following independent cases:
Sales
Revenue
Beginning
Inventory
Cost of Goods
Available for Sale
Cost of
Goods Sold
Cases
Purchases
Cost of
Gross Profit
Ending Inventory
A
S.
1,250
S.
650
1,350
860
1,450
750
1,350
660
IC
650
750
850
950
1,360
1,150
1,200
800
1,550
600
1.450
1,060
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- doctors EXTRA CREDIT OPPORTUNITY X WP NWP Assessment Player Ul Ap x ← C education.wiley.com/was/ui/v2/assessment-player/index.html?launchid=f9637d14-156f-4cb7-b76a-c0fea4e5b627#/question/7 b bartleby w wiley ←EXTRA CREDIT OPPORTUNITY Question 8 of 20 Current Attempt in Progress 1. 2. 3. CPO 4. bofa workjam (ulta) workjam (ulta) 5. 1. No. Account Titles and Explanation 2. A Player school school b bartleby 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. Recorded service revenue…arrow_forwardEdit View History Bookmarks People Tab Window Help N Academic Tools :: Northern Virgi X 63% Mon 12:07 PM weCS Virginia Community College Syst X N CHAPTER 08 HW NOVA learn.vccs.edu/courses/240149/assignments/4704240?module_item_id=17254910 https://checkout.wileyplus.com/ X des View Policies rse Evaluations Current Attempt in Progress A Policies Cullumber Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. r.com: 24/7 On- Tutoring Nov. 1 Loaned $53,400 cash to C. Bohr on a 12-month, 9% note. ary Resources Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 8% note. 16 Received a $9,600, 180-day, 8% note to settle an open account from A. Murdock. 31 Accrued interest revenue on all notes receivable. Journalize the transactions for Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered.…arrow_forwardAt what amount would the purchase on February 1 be recorded for the net price if the net method were used?arrow_forward
- M Question 1-QUIZ- CH 17-C X Chapter 5: Customers and Sal x + o.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%2... H17 2 S Saved 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.…arrow_forwardChap 14. Q.3arrow_forwardprcc riverguide-Search X [0/3.44 Points] https://www.webassign.net/web/Student/Assignment-Responses/submit?dep=33760244&tags=autosave#Q6 DETAILS Tutorial Exercise 46°F Clear PREVIOUS ANSWERS OneLogin Convert 30% to a decimal. percent 100% decimal = Step 1 Recall the following formula to calculate the trade discount, where the trade discount rate is a decimal. trade discount = list price x trade discount rate Submit 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. 100% Enter a number. This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be able to come back to the skipped part. 21 X X % Grades for Marlena McCra x X Skip (you cannot come back) BRECMBC9 7.11.018.MI.SA. The list price was given to be $2,400 and a discount of 30% will be applied. Before substituting values into…arrow_forward
- A Final Exam - MATH 1330 - Math b Details | bartleby E New tab A https://www.webassign.net/web/Student/Assignment-Responses/submit?dep=254878928tags=autosave#question4023958_1 Sign in 12. DETAILS HARMATHAP12 6.2.009. MYΝΟΤΕS What are the future value and the interest earned if $4000 is invested for 3 years at 8% compounded quarterly? (Round your answers to the nearest cent.) future value 24 interest earned %24arrow_forwardEat min C e New tab Λ Content xW Quiz 3-MAT-143, section 03F, Fa X + Q A ✩ https://www.webassign.net/web/Student/Assignment-Responses/last?dep=34832472 Viewing Saved Work Revert to Last Response DETAILS MY NOTES You deposit $850 in an account paying an annual simple interest rate of 7.8%. Find the future value of the investment (in dollars) after 1 year. DETAILS MY NOTES Calculate the simple interest due (in dollars) on a 40-day loan of $1,600 if the annual interest rate is 9%. (Use 360 days in 1 year.) $ DETAILS MY NOTESarrow_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
- F myCampus Portal Login - for Stu X B 09 Operational and Legal Consid x E (24,513 unread) - sharmarohit81 b My Questions | bartleby A fleming.desire2learn.com/d21/le/content/130754/viewContent/1518900/View?ou=130754 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: $0.12 per bar I Group Project.xlsx Show all 12:35 AM O Type here to search A O 4) ENG 2020-12-09arrow_forwardShow how outdoor expo would present net revenue in its income statatement?arrow_forwardchnical College Connect Log-In link - ACC-124X Question 10 - Unit 1 (Chapter 1 X Evaluating Alternative Tax Syst x + i ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-.. mail D YouTube A Maps Unit 1 (Chapter 1) Exercises i Saved Help Save & Exit Su Check my wo 10 Given the following tax structure, Taxpayer Salary Total Tax $32,000 $3,200 $49,000 10 Mae Pedro ??? points eBook a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Hint Print Minimum tax References b. This would result in what type of tax rate structure? Tax rate structure Mc Graw Hill ... MacBook Air F4 %23 24 & 3 4 5 6 8. E R Y P D G J K V B M command command optarrow_forward
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