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# Question 1 Using an interest rate of 14%, how

### Resolved Question:

Question 1

Using an interest rate of 14%, how much is the present value of \$800,000 to be received in 15 years?
A.
\$112,080
B.
\$746,666
C.
\$58,481
D.
\$533,334

2 points
Question 2

An investment of \$700,000 is expected to generate the following cash flows:
Year 1

\$200,000
Year 2

\$200,000
Year 3

\$100,000
Year 4

\$200,000
Year 5

\$100,000

What is the investment's payback period?
A.
4 years
B.
5 years
C.
7 years
D.
3 years

2 points
Question 3

Jughead Company is considering a \$10,000 investment. Which of the following alternative cash inflows has the shortest payback period?
A.
\$5,000 per year for Years 1 through 5.
B.
\$0 in Year 1, \$20,000 in Year 2.
C.
\$12,000 in Year 1.
D.
\$2,000 per year for Years 1 through 10.

2 points
Question 4

A project has an initial cash outflow of \$20,000 and annual inflows of \$6,000 per year for 4 years. What is the net present value using a 10% cost of capital?
A.
\$908
B.
(\$4,000)
C.
\$4,000
D.
(\$981)

2 points
Question 5

An annuity is
A.
necessary in order to calculate the net present value.
B.
a series of equal payments.
C.
a method of calculating depreciation in order to provide a tax shield.
D.
the same as the payback period.

2 points
Question 6

Your trust fund will pay distribute \$60,000 per year over the next 20 years. Using a 10% rate of return, what is the present value of the distributions?
A.
\$178,320
B.
\$510,816
C.
\$251550
D.
\$1,200,000

2 points
Question 7

Right Wing Company's sales for the next three months are as follows:
February

\$130,000
March

\$170,000
April

\$200,000

Collection history for the company indicates that 60% of sales are collected in the month of the sale, 36% is collected in the following month, and 4% of sales are uncollectible.
How much are budgeted cash receipts for April?
A.
\$222,000
B.
\$181,200
C.
\$120,000
D.
\$186,400

2 points
Question 8

Alpha Caps Company has budgeted production of 4,000 units in January. Each unit requires 1.5 hours of labor. The standard labor rate is \$8.00 per hour. How much are total budgeted direct labor costs for January?
A.
\$16,000
B.
\$48,000
C.
\$64,000
D.
\$32,000

2 points
Question 9

Realm Company's budget indicates that 16,000 units are to be sold during September. If the company has 4,000 units on hand at the beginning of the period and plan to have 6,000 units on hand at the end of the period at the end of the month, how many units should be produced during the month?
A.
18,000
B.
22,000
C.
16,000
D.
14,000

2 points
Question 10

Concerning relationship between beginning inventory, ending inventory, production, and sales, which of the following is true?
A.
Production = Beginning Inventory – Ending Inventory + Sales
B.
Production = Sales + Ending Inventory – Beginning Inventory
C.
Production = Beginning Inventory + Sales – Ending Inventory
D.
Production = Beginning Inventory + Ending Inventory – Sales

2 points
Question 11

Riggs Company has budgeted production for the next two months as follows:
July

16,000 units
August

22,000 units

Each unit requires 5 pounds of material. Raw materials at the end of each month should equal 10% of the next month's production requirements. How many pounds will be budgeted for purchases of raw materials for July?
A.
83,000
B.
66,200
C.
80,600
D.
79,400

2 points
Question 12

The comprehensive planning document that incorporates a number of individual budgets is the
A.
sales forecast.
B.
capital acquisitions budget.
C.
material purchases budget.
D.
master budget.

2 points
Question 13

The sales budget is based on assumptions about the
A.
contribution margin per unit and the number of units to be sold.
B.
costs of the units produced and the total fixed costs.
C.
number of units to be sold and selling price per unit.
D.
timing of cash receipts.

2 points
Question 14

Washington Company has developed the following raw material standard for a single unit of one of its products, the Cruiser, 138.6 pounds of grotelite at a cost of \$23.00 per pound. Du
Submitted: 4 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 4 years ago.

Hi :)

Thank you

Customer: replied 4 years ago.
Question 14
Washington Company has developed the following raw material standard for a single unit of one of its products, the Cruiser, 138.6 pounds of grotelite at a cost of \$23.00 per pound. During a recent month, Washington purchased 36,000 pounds of grotelite at a cost of \$25.00 per pound. The company used 35,000 pounds of grotelite to produce 250 Cruisers. How much is the material quantity variance?
 A. \$72,000 unfavorable. B. \$25,000 unfavorable. C. \$8,050 unfavorable. D. \$80,050 unfavorable.

### Question 15

1. At Electrix, the standard price for the M640 electrical relay, a component used in the production of a commercial refrigeration unit, is \$67. Standards call for two relays per refrigeration unit. In July, the company purchased 120 relays for \$7,560. The company used 104 relays in the production of 50 refrigeration units, with four relays damaged in the installation process. The standard quantity of labor is 20 hours per refrigeration unit. The standard wage rate is \$23. In July, the company incurred 1,020 labor hours at a cost of \$22,950. How much is the labor efficiency variance?
 A. \$460 unfavorable. B. \$510 favorable. C. \$50 favorable. D. \$460 favorable.

### Question 16

1. The development of standard costs for overhead involves procedures similar to those used to determine the
 A. standard costs for materials. B. total number of units to be produced. C. budgeted direct labor costs. D. predetermined overhead rates.

### Question 17

1. Standard costs can be used in
 A. manufacturing companies. B. service companies. C. both manufacturing and service companies. D. None of the above is correct.

### Question 18

1. At the start of 2012, Rockand Company determined its standard labor cost to be 2.5 hours per unit at \$14.00 per hour. The budget for variable overhead was \$8 per unit and budgeted fixed overhead was \$15,000 for the year. Expected annual production was 5,000 units. During 2012, the actual cost of labor was \$14.30 per hour. Rockand produced 4,900 units requiring 11,700 direct labor hours. Actual overhead for the year was \$52,100. How much is the overhead volume variance?
 A. \$800 favorable. B. \$300 unfavorable. C. \$1,800 favorable. D. \$2,100 favorable.

### Question 19

1. Which of the following would cause a variance to be unfavorable?
 A. The actual price is less than the standard price. B. The standard hours allowed are less than the actual hours worked. C. The overhead costs incurred are less than the flexible budget amount. D. All of the above are true.

### Question 20

1. Residual income is NOPAT with an adjustment for
 A. profit required for the level of investment in the investment center. B. standard cost variances. C. taxes and depreciation. D. accounting distortions.

### Question 21

1. Which of the following methods of setting a transfer price most closely reflects an arm's-length, independent transaction?
 A. Variable cost. B. Market price. C. Negotiated price. D. Full-cost plus profit.

### Question 22

1. Companies evaluate performance of subunits and subunit managers in order to
 A. identify successful operations. B. influence the behavior of managers. C. determine areas which need improvement. D. All of the above are correct.

### Question 23

1. If responsibility centers are ranked in order of decreasing responsibility, the ranking is
 A. investment centers, cost centers, profit centers. B. investment centers, profit centers, cost centers. C. profit centers, cost centers, investment centers. D. cost centers, investment centers, profit centers.

### Question 24

1. The Creative division of Shaft Company reported the following results for December 2011:
 Invested Capital \$1,500,000 Profit Margin 25% Return on Investment 15%

Given this information, how much was sales?
 A. \$900,000 B. \$725,000 C. \$225,000 D. \$375,000

### Question 25

On a balanced scorecard, the measure of the number of new patents developed through research and development would be an example of a measure in the:
 A. learning and growth dimension. B. internal process dimension. C. the financial dimension. D. the customer dimension.
Expert:  Manal Elkhoshkhany replied 4 years ago.
How long do we have please?
Customer: replied 4 years ago.
1h 45 min
Expert:  Manal Elkhoshkhany replied 4 years ago.
I am on 12 now
Customer: replied 4 years ago.
thanks for the update...we got plenty of time remaining
Expert:  Manal Elkhoshkhany replied 4 years ago.

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Manal Elkhoshkhany, Tutor
Category: Homework
Satisfied Customers: 9735
Experience: More than 5000 online tutoring sessions.

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