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for BusinessTutor: accounting assistance Id like to schedule

for BusinessTutor: accounting assistance I'd like...
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I'd like to schedule another online session with you for help with my accounting 2 questions. Anytime between now and Sunday the 19th. When are you available?
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Customer reply replied 5 years ago
Tomorrow would be perfect. Is 9:30 eastern too late? Should take about 45 min to an hour like last time.

That would be perfect for m too :)

 

9:30 is great.

 

See you tomorrow night then

 

 

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Customer reply replied 5 years ago
I am online now. Starting my test. Will post what I need help with!
Ok :) I am here too
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Customer reply replied 5 years ago
Here is the first set:

A sawmill paid $70,000 for logs that produced 200,000 board feet of lumber in 3 different grades and amounts as follows:
Picture
Compute the portion of the $70,000 joint cost to be allocated to No. 2 Common.
Answer
$0.
$17,500.
$23,333.
$35,000.
$70,000.



Abbe Company reported the following financial numbers for one of its divisions for the year; average total assets of $4,100,000; sales of $4,525,000; cost of goods sold of $2,550,000; and operating expenses of $1,372,000. Assume a target income of 10% of average invested assets. Compute residual income for the division:
Answer
$203,000.
$193,000.
$150,500.
$60,300.
$197,500.


A company's prime costs total $4,500,000 and its conversion costs total $5,500,000. If direct materials are $2,000,000, calculate the overhead costs:
Answer
$2,500,000.
$3,500,000.
$2,000,000.
$1,000,000.
$3,000,000.

Using the information below for Hardy Company; determine the manufacturing costs added during the current year:
Picture
Answer
$12,000.
$16,100.
$17,100.
$18,100.
$13,600

An internal control system consists of the policies and procedures managers use to do all of the following except:
Answer
Urge adherence to company policies.
Promote efficient operations.
Ensure reliable accounting.
Determine pricing for products.
Protect assets.

Using the information below for Hardy Company; determine the cost of goods manufactured during the current year:
Picture
Answer
$12,000.
$16,100.
$17,100.
$18,100.
$13,600.

Current information for the Austin Company follows:
Picture
All raw materials used were traceable to specific batches of product. Austin Company's cost of goods manufactured for the year is:

Costs that are first assigned to inventory are called:
Answer
Period costs.
Product costs.
General costs.
Administrative costs.
Fixed costs.

A department that incurs costs without directly generating revenues is a:
Answer
Service center.
Production center.
Profit center.
Cost center.
Performance center.

Belgrade Lakes Properties is developing a golf course subdivision that includes 225 home lots; 100 lots are golf course lots and will sell for $95,000 each;XXXXXfrontage lots and will sell for $65,000. The developer acquired the land for $1,800,000 and spent another $1,400,000 on street and utilities improvement. Compute the amount of joint cost to be allocated to the street frontage lots using value basis.
Answer
$1,724,800.
$1,777,920.
$2,018,920.
$1,422,080.
$1,475,200.

For an investment center, the hurdle rate is:
Answer
The cost of obtaining financing.
The desired return on investments.
The difference between the projected rate and the earned rate.
Not evaluated in determining the performance of an investment center.
Not important to management.

The allocation bases for assigning indirect costs include:
Answer
Only physical bases.
Only cost bases.
Only value bases.
Only unit bases.
Any appropriate and reasonable bases.



Using the information below, calculate the cost of goods manufactured for the period.
Picture
Answer
$553,000.
$536,000.
$549,000.
$527,000.
$525,000.


Which of the following items are management concepts that were created to improve companies' performances?
Answer
Just-in-time manufacturing.
Customer orientation.
Total quality management.
Continuous improvement.
All of these.

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Customer reply replied 5 years ago
I definitely have more questions this time...

During March, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of the units transferred, 25,000 were in process at the beginning of March and 110,000 were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 55% complete with respect to labor. At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. The production department incurred direct labor cost of $578,900 and its beginning inventory included labor cost of $54,700. Compute the direct labor cost per equivalent unit for the department using the weighted-average method.
Answer
$4.69.
$3.84.
$4.86.
$4.28.
$4.40.

Embark produces mulch for landscaping use. The following information summarizes production operations and sales activities for June. The journal entry to record June sales is:
Picture
Answer
Debit Accounts Receivable $810,000; credit Cost of Goods Sold $810,000.
Debit Accounts Receivable $810,000; credit Sales $366,000; credit Finished Goods Inventory $444,000.
Debit Cost of Goods Sold $444,000; credit Sales $444,000.
Debit Finished Goods Inventory $444,000; debit Sales $810,000; credit Accounts Receivable $810,000; credit Cost of Goods Sold $444,000.
Debit Accounts Receivable $810,000; credit Sales $810,000; debit Cost of Goods Sold $444,000; credit Finished Goods Inventory $444,000.

Hou Company applies factory overhead to its production departments on the basis of 90% of direct labor costs. In the Assembly Department, Hou had $125,000 of direct labor cost, and in the Finishing Department, Hou had $35,000 of direct labor cost. The entry to apply overhead to these production departments is:
Answer
Debit Factory Overhead − Assembly $112,500; debit Factory Overhead − Finishing $31,500; credit Goods in Process Inventory $144,000.
Debit Factory Overhead $144,000; credit Goods in Process Inventory - Assembly $112,500; credit Goods in Process − Finishing $31,500.
Debit Factory Overhead $144,000; credit Factory Payroll $144,000.
Debit Goods in Process Inventory − Assembly $112,500; debit Goods in Process Inventory − Finishing $31,500; credit Factory Overhead $144,000.
Debit Factory Payroll $144,000; credit Cash $144,000.

During March, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of the units transferred, 25,000 were in process at the beginning of March and 110,000 were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 55% complete with respect to labor. At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. Compute the number of units transferred to finished goods.
Answer
110,000.
135,000.
105,000.
165,000.
144,000.


During March, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of the units transferred, 25,000 were in process at the beginning of March and 110,000 were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 55% complete with respect to labor. At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. The production department incurred direct materials cost of $253,000 and its beginning inventory included materials cost of $93,500. Compute the direct materials cost per equivalent unit for the department using the weighted-average method.
Answer
$1.53.
$2.48.
$2.10.
$2.57.
$2.40.











Refer to the following selected financial information from Hansen's, LLC. Compute the company's profit margin for Year 2. Picture
Answer
14.1%.
11.7%.
9.6%.
16.7%.
33.9%.

Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size percents for operating expenses using Year 1 net sales as the base. Picture
Answer
36.4% for Year 2 and 41.1% for Year 1.
55.0% for Year 2 and 56.0% for Year 1.
119.4% for Year 2 and 100.0% for Year 1.
103.8% for Year 2 and 100.0% for Year 1.
20.0% for Year 2 and 23.0% for Year 1.

All of the following statements regarding a business segment are True except:
Answer
A business segment is a part of a company's operations that serves a particular product line.
A segment has assets, liabilities, and financial results of operations that can be distinguished from those of other parts of the company.
A company's gain or loss from selling or closing down a segment is reported separately.
A segment's income for the period prior to the disposal and the gain or loss resulting from disposing of the segment's assets are combined and reported.
A segment's income for the period prior to the disposal and the gain or loss resulting from disposing of the segment's assets are reported separately.

Refer to the following selected financial information from Fennie's, LLC. Compute the company's current ratio for Year 2. Picture
Answer
2.26.
1.98.
2.95.
3.05.
1.88.


Comparative financial statements in which each individual financial statement amount is expressed as a percentage of a base amount, and in which the base amount is expressed as 100%, are called:
Answer
Comparative statements.
Common-size comparative statements.
General-purpose financial statements.
Base line statements.
Index statements.

Phoenix Company reported sales of $400,000 for Year 1, $450,000 for Year 2, and $500,000 for Year 3. Using Year 1 as the base year, what were the percentage increases for Year 2 and Year 3 compared to the base year?
Answer
80% for Year 2 and 90% for Year 3.
88% for Year 2 and 80% for Year 3.
88% for Year 2 and 90% for Year 3.
112.5% for Year 2 and 125% for Year 3.
125% for Year 2 and 112.5% for Year 3.

A company uses the weighted average method for inventory costing. During a period, a production department had 20,000 units in beginning goods in process inventory which were 40% complete; the department completed and transferred 165,000 units. At the end of the period, 22,000 units were in the ending goods in process inventory and are 75% complete. Compute the number of equivalent units produced by the department.
Answer
181,500.
165,000.
173,500.
145,000.
187,000.

A company uses the weighted average method for inventory costing. During a period, a production department had 20,000 units in beginning goods in process inventory which were 40% complete; the department completed and transferred 165,000 units. At the end of the period, 22,000 units were in the ending goods in process inventory and are 75% complete. All of these are with respect to labor. The production department had labor costs in the beginning goods is process inventory of $99,000 and total labor costs added during the period are $726,825. Compute the equivalent cost per unit for labor.
Answer
$4.40.
$4.76.
$4.19.
$4.55.
$4.61.

Refer to the following selected financial information from Fennie's, LLC. Compute the company's days' sales in inventory for Year 2.
Picture
Answer
43.9.
42.3.
46.2.
80.0.
113.3.
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Customer reply replied 5 years ago
Last set!

To compute equivalent units of production, one must be able to reasonably estimate:
Answer
The percentage of completion.
Units completed.
Units started and completed.
Direct labor cost.
Materials cost.

The amount by which overhead incurred during a period exceeds the overhead applied to jobs is:
Answer
Balanced overhead.
Predetermined overhead.
Actual overhead.
Underapplied overhead.
Overapplied overhead.


The R&R Company's production costs for August are: direct labor, $13,000; indirect labor, $6,500; direct materials, $15,000; property taxes on production equipment, $800; heat, lights and power, $1,000; and insurance on plant and equipment, $200. R&R Company's factory overhead incurred for August is:
Answer
$ 2,000.
$ 6,500.
$ 8,500.
$21,500.
$36,500.

If it is a material amount, overapplied or underapplied overhead should be disposed of by allocating it to:
Answer
Cost of goods sold and finished goods.
Finished goods and goods in process.
Goods in process, finished goods, and cost of goods sold.
Goods in process
Raw materials, goods in process, and finished goods

O.K. Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. O.K. expects to incur $800,000 of overhead during the next period, and expects to use 50,000 labor hours at a cost of $10.00 per hour. What is O.K. Company's overhead application rate?
Answer
6.25%.
62.5%.
160%.
1600%.
67%.

Labor costs in production can be:
Answer
Direct or indirect.
Indirect or sunk.
Direct or payroll.
Indirect or payroll.
Direct or sunk.

The production activities for a customized product represent a(n):
Answer
Operation.
Job.
Unit.
Pool.
Process.







Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year. Equivalent units of production for the year are: Picture
Answer
3,200 units.
3,320 units.
3,240 units.
3,520 units.
3,800 units.




Which of the following characteristics applies to process cost accounting but not to job order cost accounting?
Answer
Use of a predetermined overhead rate.
Identifiable lots of production.
Equivalent units of production.
Labor time ticket for each employee.
Use of a single Goods in Process Inventory account.


During March, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of the units transferred, 25,000 were in process at the beginning of March and 110,000 were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 55% complete with respect to labor. At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. Compute the number of equivalent units with respect to both materials and direct labor respectively for March using the FIFO method.
Answer
165,000; 165,000.
135,000; 119,000.
140,000; 130,250.
165,000; 144,000.
144,000; 144,000.


Que Corporation uses a process cost accounting system. The company manufactured certain goods at a cost of $800 and sold them on credit to Are Corporation for $1,075.
The complete journal entry to be made by Que at the time of this sale is:
Answer
Debit Accounts Receivable $1,075; credit Sales $1,075; debit Cost of Goods Sold $800; credit Finished Goods Inventory $800.
Debit Accounts Receivable $1,075; credit Sales $275; credit Finished Goods Inventory $800.
Debit Cost of Goods Sold $1,075; credit Sales $1,075.
Debit Finished Goods Inventory $800; debit Sales $1,075; credit Accounts Receivable $1,075; credit Cost of Goods Sold $800.
Debit Accounts Receivable $1,075; debit Selling expense $800; credit Sales $1,075; credit Cost of Goods Sold $800.

Done :)

 

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Are you through with downloading all solutions so that I remove the files?

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Customer reply replied 5 years ago
Yes, I am finishing downloading. Thank you so so so so much! 98 :)
Customer reply replied 5 years ago
I meant finished..not finishing. You can remove the files now.

Great, but why 98%? Did I miss any?

 

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Customer reply replied 5 years ago
Nope, you did not! but I sure did. I missed two questions that I answered all by myself. I thought I knew them but I was wrong.
Sealed
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Customer reply replied 5 years ago
well thanks again! have a great weekend.
You too :)
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Customer reply replied 5 years ago
I have one more test that I need help with! I have until Friday March 2nd. Do you have any room in your schedule to meet me online for my last exam? Evenings are best for me around 8 pm eastern or anytime after but I'm flexible to whenever you are available.
Would Wednesday Feb. 29th, be ok?
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Customer reply replied 5 years ago
Yes! I'll start my exam around 8 and then should have a first set of questions to you within 15 to 20 minutes.

Great :)

 

I will see you Wednesday then

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Customer reply replied 5 years ago
Baines Brothers manufactures and sells two products, A and Z in the ratio of 4:2. Product A sells for $75; Z sells for $95. Variable costs for product A are $35; for Z $40. Fixed costs are $418,500. Compute the break-even point in composite units.
Answer
1,748.
1,468.
1,550.
1,395.
1,270.


Lee Company manufactures and sells widgets for $2.00 per unit. Its variable cost per unit is $1.70. Lee's total fixed costs are $10,500. How many widgets must Lee Company sell to break even?
Answer
5,250.
6,176.
35,000.
52,500.
61,760.

Winthrop Manufacturing produces a product that sells for $50.00. Fixed costs are $260,000 and variable costs are $24.00 per unit. Winthrop can buy a new production machine that will increase fixed costs by $11,400 per year, but will decrease variable costs by $3.50 per unit. Compute break-even point in dollars with the purchase of the new machine.
Answer
$500,000.
$440,678.
$521,923.
$480,000.
$460,000.

Winthrop Manufacturing produces a product that sells for $50.00. Fixed costs are $260,000 and variable costs are $24.00 per unit. Winthrop can buy a new production machine that will increase fixed costs by $11,400 per year, but will decrease variable costs by $3.50 per unit. Compute break-even point in units if the new machine is purchased.
Answer
10,438 units.
8,814 units.
10,000 units.
9,200 units.
9,869 units.


Which one of the following statements is not true?
Answer
Total fixed costs remain the same regardless of volume within the relevant range.
Total variable costs change with volume.
Total variable costs decrease as the volume increases.
Fixed costs per unit increase as the volume decreases.
Variable costs per unit remain the same regardless of the volume.

Use the following information to determine the margin of safety in dollars:
Picture
Answer
$88,500.
$108,500.
$173,600.
$326,400.
$500,000.


Baker Company's sales mix is 3 units of A, 2 units of B, and 1 unit of C. Selling prices for each product are $20, $30, and $40, respectively. Variable costs per unit are $12, $18, and $24, respectively. Fixed costs are $320,000. What is the break-even point in composite units?
Answer
1,111.
1,600.
2,666.
4,000.
5,000.

The excess of expected sales over the sales level at the break-even point is known as the:
Answer
Sales turnover.
Profit margin.
Contribution margin.
Relevant range.
Margin of safety.

The difference between sales price per unit and variable cost per unit is the:
Answer
Gross profit from sales.
Gross margin per unit.
Fixed cost per unit.
Margin of safety per unit.
Contribution margin per unit.

A graph used to analyze past cost behaviors by displaying costs and volume levels for each period as points on the diagram is called a:
Answer
Least-squares diagram.
Step-wise diagram.
Scatter diagram.
Break-even diagram.
Composite diagram.

If a firm's forecasted sales are $250,000 and its break-even sales are $190,000, the margin of safety in dollars is:
Answer
$60,000.
$250,000.
$190,000.
$440,000.
$24,000.

Mueller Corp. manufactures compact discs that sell for $5.00. Fixed costs are $28,000 and variable costs are $3.60 per unit. Mueller can buy a newer production machine that will increase fixed costs by $8,000 per year, but will decrease variable costs by $0.40 per unit. What effect would the purchase of the new machine have on Mueller's break-even point in units?
Answer
4,444 unit increase.
9,850 unit decrease.
5,714 unit increase.
4,444 unit decrease.
No effect on the break-even point in units.

Which of the following budgets must be completed before a cash budget can be prepared?
Answer
Capital expenditures budget.
Sales budget.
Merchandise purchases budget.
General and administrative expense budget.
All of these.

Guidance for preparing a master budget is usually the responsibility of:
Answer
The company CEO.
The marketing department.
A budget committee.
The chief financial officer.
Lower level management.

Which of the following budgets is not an operating budget?
Answer
Sales budget.
Cash budget.
General and administrative expense budget.
Selling expenses budget.
Merchandise purchases.

Grafton sells a product for $700. Unit sales for May were 400 and a 3% growth in unit sales is forecasted for each month. Grafton pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales in dollars. Assume 30% of Grafton's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June.
Answer
$282,520.
$196,000.
$201,880.
$280,000.
$285,880.


At Flint Company's break-even point of 9,000 units, fixed costs are $180,000 and variable costs are $540,000 in total. The unit sales price is:
Answer
$20.
$40.
$60.
$80.
$100.
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Customer reply replied 5 years ago
Grafton budgets production of 300 units in June and 310 units in July. Each finished unit requires 4 pounds of raw material K, which costs $5 per pound. Each month's ending inventory of raw materials should be 30% of the following month's budgeted production. The June 1 raw materials inventory has 360 pounds of raw material K. Compute budgeted purchases for raw material K for June.
Answer
1,200 lbs.
1,240 lbs.
1,212 lbs.
1,220 lbs.
880 lbs.

A plan that reports the units or costs of merchandise to be purchased by a merchandising company during the budget period is called a:
Answer
Selling expenses budget.
Merchandise purchases budget.
Sales budget.
Cash budget.
Capital expenditures budget.

A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in the month of the sale, 50% in the next month, and 15% the following month. Projected sales for January, February, and March are $60,000, $85,000 and $95,000, respectively. The March expected cash receipts from all current and prior credit sales is:
Answer
$57,000
$63,080
$64,000
$80,750
$90,250

Assuming a bottom-up process of budget development, which of the following should be initially responsible for developing sales estimates?
Answer
The budget committee.
The accounting department.
The sales department.
Top management.
The marketing department.

Ecology Co. sells a biodegradable product called Dissol and has predicted the following sales for the first four months of the current year:
Picture
Ending inventory for each month should be 20% of the next month's sales, and the December 31 inventory is consistent with that policy. How many units should be purchased in February?
Answer
1,860.
1,900.
1,940.
1,980
2,320.

Which of the following budgets is part of the manufacturing budget?
Answer
Sales budget.
Direct materials budget.
Production budget.
Merchandise purchases budget.
Cash budget.

When standard manufacturing costs are recorded in the accounts and the cost variances are immaterial at the end of the accounting period, the cost variances should be:
Answer
Carried forward to the next accounting period.
Allocated between cost of goods sold, finished goods, and goods in process.
Closed to cost of goods sold.
Written off as a selling expense.
Ignored.

Standard costs are used in the calculation of:
Answer
Price and quantity variances.
Price variances only.
Quantity variances only.
Price, quantity, and sales variances.
Quantity and sales variances.

Cabot Company collected the following data regarding production of one of its products. Compute the direct materials cost variance.
Picture
Answer
$6,000 favorable.
$3,570 unfavorable.
$2,430 favorable.
$6,000 unfavorable.
$3,570 favorable.

An internal report that helps management analyze the difference between actual performance and budgeted performance based on the actual sales volume (or other level of activity), and which presents the differences between actual and budgeted amounts as variances, is called a(n):
Answer
Sales budget performance report.
Flexible budget performance report.
Master budget performance report.
Static budget performance report.
Operating budget performance report.

Cabot Company collected the following data regarding production of one of its products. Compute the direct labor cost variance.
Picture
Answer
$53,500 unfavorable.
$40,500 favorable.
$53,500 favorable.
$13,000 unfavorable.
$40,500 unfavorable.

Montaigne Corp. has the following information about its standards and production activity for November. The controllable variance is:
Picture

Identify the situation that will result in a favorable variance.
Answer
Actual revenue is higher than budgeted revenue.
Actual revenue is lower than budgeted revenue.
Actual income is lower than expected.
Actual costs are higher than budgeted costs.
Actual expenses are higher than budgeted expenses.

A process of examining the differences between actual and budgeted costs and describing them in terms of the amounts that resulted from price and quantity differences is called:
Answer
Cost analysis.
Flexible budgeting.
Variable analysis.
Cost variable analysis.
Variance analysis.

The difference between the actual cost incurred and the standard cost is called the:
Answer
Flexible variance.
Price variance.
Cost variance.
Controllable variance.
Volume variance.

A flexible budget performance report compares the differences between:
Answer
Actual performance and budgeted performance based on actual sales volume.
Actual performance over several periods.
Budgeted performance over several periods.
Actual performance and budgeted performance based on budgeted sales volume.
Actual performance and standard costs at the budgeted sales volume.

In preparing a budgeted balance sheet, the amount for Accounts Receivable is primarily determined from:
Answer
The purchases budget.
The sales budget.
The capital expenditures budget.
The budgeted income statement.
The selling expenses budget.
Customer reply replied 5 years ago
Marsden manufactures a cat food product called Special Export. Marsden currently has 10,000 bags of Special Export on hand. The variable production costs per bag are $1.80 and total fixed costs are $10,000. The cat food can be sold as it is for $9.00 per bag or be processed further into Prime Cat Food and Feline Surprise at an additional $2,000 cost. The additional processing will yield 10,000 bags of Prime Cat Food and 3,000 bags of Feline Surprise, which can be sold for $8 and $6 per bag, respectively. If Special Export is processed further into Prime Cat Food and Feline Surprise, the total gross profit would be:
Answer
$68,000.
$78,000.
$96,000.
$98,000.
$100,000.

Product A requires 5 machine hours per unit to be produced, Product B requires only 3 machine hours per unit, and the company's productive capacity is limited to 240,000 machine hours. Product A sells for $16 per unit and has variable costs of $6 per unit. Product B sells for $12 per unit and has variable costs of $5 per unit. Assuming the company can sell as many units of either product as it produces, the company should:
Answer
Produce only Product A.
Produce only Product B.
Produce equal amounts of A and B.
Produce A and B in the ratio of 62.5% A to 37.5% B.
Produce A and B in the ratio of 40% A and 60% B.

Edgar Company is considering the purchase of new equipment costing $80,000. The projected annual after-tax net income from the equipment is $10,200, after deducting $20,000 for depreciation. The revenue is to be received at the end of each year. The machine has a useful life of 4 years and no salvage value. Edgar requires a 10% return on its investments. The present value of an annuity of 1 and present value of an annuity for different periods is presented below. Compute the net present value of the machine.
Picture
Answer
$(15,731).
$(4,896).
$15,731.
$4,896.
$32,334.

Thompson Company had the following results of operations for the past year:
Picture
A foreign company (whose sales will not affect Thompson's market) offers to buy 4,000 units at $7.50 per unit. In addition to variable manufacturing costs, selling these units would increase fixed overhead by $600 and selling and administrative costs by $300. If Thompson accepts the offer, its profits will:
Answer
Increase by $30,000.
Increase by $6,000.
Decrease by $6,000.
Increase by $5,200.
Increase by $4,300.

The hurdle rate is often set at:
Answer
The rate the company could earn if the investment were placed in the bank.
The company's cost of capital.
10% above the IRR of current projects.
10% above the ARR of current projects.
The rate at which the company is taxed on income.

A cost that cannot be avoided or changed because it arises from a past decision, and is irrelevant to future decisions, is called a(n):
Answer
Uncontrollable cost.
Incremental cost.
Opportunity cost.
Out-of-pocket cost.
Sunk cost.

Marcus processes four different products that can either be sold as is or processed further.
Listed below are sales and additional cost data:
Picture
Which product(s) should not be processed further?
Answer
Acta.
Corda.
Fando.
Limo.
None of the products should be processed further.

A company is considering the purchase of new equipment for $45,000. The projected after-tax net income is $3,000 after deducting $15,000 of depreciation. The machine has a useful life of 3 years and no salvage value. Management of the company requires a 12% return on investment. The present value of an annuity of 1 for various periods follows:
Picture
What is the net present value of this machine assuming all cash flows occur at year-end?
Answer
$(1,768)
$3,000
$15,000
$18,000
$43,232

Eagle Company is considering the purchase of an asset for $100,000. It is expected to produce the following net cash flows. The cash flows occur evenly throughout each year. Compute the break-even time (BET) period for this investment. (Round to two decimal places.)
Picture
Answer
2.85 years.
2.57 years.
3.17 years.
2.98 years.
3.62 years.

The calculation of the payback period for an investment when net cash flow is even (equal) is:
Answer
Cost of investment/Annual net cash flow
Cost of investment/Total net cash flow
Annual net cash flow/Cost of investment
Total net cash flow/Cost of investment
Total net cash flow/Annual net cash flow

The following present value factors are provided for use in this problem.
Picture
Norman Co. wants to purchase a machine for $40,000, but needs to earn an 8% return. The expected year-end net cash flows are $12,000 in each of the first three years, and $16,000 in the fourth year. What is the machine's net present value (round to the nearest whole dollar)?
Answer
$(9,075).
$2,685.
$42,685.
$(28,240).
$52,000.
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