24 Fill in the blank: ________ is the level of capacity based on producing at full capacity all the time. Select one: a. Theoretical capacity b. Master-budget capacity c. Normal capacity d. Demand capacity e. Practical capacity
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24
Fill in the blank: ________ is the level of capacity based on producing at full capacity all the time.
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- Hello question is attached, thanks.This is the length of time it takes to initiate and complete a finished product. O a. Fiscal year O b. Accounting year c. Production cycle Od. Short-term QUESTION 21 Costs that remain constant even with changes in production level. O a. Variable costs O b. Start-up costs O c. Semi-variable costs O d. Fixed costs QUESTION 22 The challenge of budgeting is to determine what will change and what will stay the same. O True False QUESTION 23 The numbers on tax returns (cash basis) are the same as the number we use to manage a department (accrual basis). O True O False QUESTION 24 A pattern of change over several time periods which can help us make estimates for the future is a. a gap. Ob. a fixed cost. Oc. a transformation. d. a trend.25. A standard cost Multiple Choice a)is the average cost within an industry b)is useful in calculating equivalent units c)is a budget for the production of one unit of a product d)incorporates the opportunity cost of a unit of production e)shows the actual cost from previous years
- 17*Match the definition the term. Terms: Cost variance Overhead cost variance Price variance Quantity variance Standard costs Sales budget Production Budget Balanced scorecard Profit center Cost center Definitions: 1. A plan showing the units of goods to be sold and sales to be derived; usually starting pointing the budgeting process. 2. A system of performance measures, including the nonfinancial measures, used to asses manager performance. 3. A department that incurs cost and genrate revenues, such as a selling department 4. The difference between actual and budgeted sales or cost caused by the difference between the actual per unit and the budgeted price per unit. 5. The difference between actual cost and standard cost, made up of a price variance and a quantity variance. 6. The difference between the total overhead cost actually incurred and the total overhead cost applied to products 7. The difference between the actual budgeted cost caused by…PLEASE USE THIS TIME TO ANSWER THIS. AYAW NA PAGHULAT UG DEADLINE, TOMORROW IS ANOTHER DAY. PLEASE DEFINE AND GIVE THE FORMULA OF THE FOLLOWING (IF THERE IS ANY): PLEASE ANSWER HERE DIRECTLY 1. absorption costing 2. activity bases (drivers) 3. break-even polnt 4. contributlon margin 5. contributlon margin ratlo 6. cost behavlor 7. cost-volume-profit analysls 8. cost-volume-profit chart
- 1. Match each of the following terms with the appropriate definition. The difference between actual and budgeted revenue or cost caused by the difference between the actual number of units sold or used and the budgeted number of units. A budget prepared after an operating period is complete in order to help managers evaluate past performance; uses fixed and variable costs in determining total costs. The costs that should be incurred under normal conditions to produce a specific product or to perform a specific service. The difference between 1. Cost Variance total overhead cost that would have been expected if the actual operating 2. Volume Variance volume had been accurately predicted and 3. Price Variance the amount of overhead cost that was allocated to products using the predetermined standard overhead rate. 4. Quantity Variance 5. Standard Costs A planning budget based on a single predicted amount 6. Fixed Budget of sales or production volume; unsuitable for 7. Flexible Budget…pareshBelow in the first table, required level of competencies and performance evaluations are given. If you are asked to prepare training budget, what would be the minimum budget to give all required trainings?
- Refer to Problem 8.40 for data. Required: 1. Run a multiple regression equation using machine hours, number of setups, and number of purchase orders as independent variables. Prepare a flexible budget for overhead for the 12 months using the results of this regression equation. (Round the regression coefficients to the nearest cent and predicted overhead to the nearest dollar.) Which flexible budget is betterthe one based on simple regression (with machine hours as the only independent variable) or the one based on multiple regression? Why? 2. Now, suppose that the controller remembers that the factory throws two big parties each year, one for the 4th of July and the other for Christmas. Rerun the multiple regression with machine hours, number of setups, and number of purchase orders, and add a dummy variable called Party. (This variable takes the value one for months with a factory-sponsored party, and zero otherwise.) Prepare a flexible budget for the 12 months using the results of this regression. Discuss the implications of using this new regression for decision making.For the following activities and their associated resources, identify the following: (1) a cost driver, (2) flexible resources, and (3) committed resources. Also, label each resource as one of the following with respect to the cost driver: (a) variable and (b) fixed.What distinguishes capacity utilization accounting from volume measures? a) Standard measures work fine b) Usage numbers tell everything c) Capacity remains constant d) Resource availability impacts supplement usage records
