economy is slow and hourly wages are down. Estimate the total number of standard direct labor hours that are needed to manufacture your products during 2021. The changes in the Retained Earnings account occurring during the accounting period. 3 & 2 & 0 & 1 Using the high-low method, the estimated variable cost per hour is $, Match each example below to the correct cost type. If the company incurs $62,000 in total fixed costs and expects to sell 2,500 units their income would be $. The weighted-average contribution margin per unit is $, A company sells 800 units at $16 each, has variable costs of $12 per unit, and fixed costs of $1,200. The risk of a portfolio of financial assets is sometimes called investment risk. 155. The management of the company has decided to adopt a product/service differentiation competitive strategy. Marketing managers rely on customer databases for effective implementation of the market penetration strategy. a. design b. operation c. improvement d. All of these answer choices are correct., The transformation process associated with health care is best described as a. locational b. exchange c. physiological d. informational, All of the following | (Fixed) Machinery depreciation | 3,000 | 3,000 | Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. They want to promote the company's products among the public. The sales level in dollars to achieve the desired target income is $. Determine the number of completed units manufactured during the year. \end{array}\right] ), Margot, a prospective investor, wants to know how much cash Ziegler Inc. has on December 31. The volume of tutoring is low at the beginning of the semester and increases before exams. Rues and West Bros., an ammunition manufacturer, defines its mission as being in the ammunition-production business rather than in the arms industry. 34) In the national income accounts, government expenditure on goods and services refer to those purchases made by. Beauden Barrett.Barrett's current salary is believed to be $1 million per season making him the highest paid player in rugby history.Barrett is yet to comment on the potential deal. Ana Carillo and Associates is a medium-sized company located near a large metropolitan area in the Midwest. Investing cash flows would include which of the following? Study with Quizlet and memorize flashcards containing terms like Unlike an operating decision, a strategic decision probably will not have a big impact on the long-run profitability of the company. 47) Net exports of goods and services equal the, 49) In 2010, net exports in the United States were, 50) To calculate GDP using the expenditure approach, in part it is necessary to, 51) An increase in exports of goods or services with no change in imports of goods or services. The contribution margin ratio is. Executives must personally certify the company's financial statements. In this case, Revel Inc. focuses on the _____ element of the marketing mix. When properly created, a strategic business unit (SBU). (c) Both blue? It manufactures canvas shoes that are quite similar to those produced by other brands. A year later, when the firm wants to upgrade to a new copier, it finds that the old copier is only worth $750. | (Fixed) Manufacturing supervisors salaries | 22,500 | 22,000 | Actual costs exceed ap-plied costs. Fixed costs are $15,000. Earlier this year, Barrett and his long-time girlfriend Hannah Laity got engaged. Their direct materials are $8, direct labor is $6 and total overhead is $5 of which $3 is variable. | (Fixed) Manufacturing offi ce employees salaries | 13,000 | 12,500 | Other Quizlet sets. The credit card company charges McGregor 3% of the sale. Delat Corp. is a large corporation that offers several product lines. fixed mixed variable, The ABC Company had its highest level of production in May when they produced 4,000 units at a total cost of $110,000 and its lowest level of production in November when they produced 2,500 units at a total cost of $87,500. In the notes to financial statements, adequate disclosure would typically not include: The optimism of the CFO regarding future profits. Authorizing transactions, recording transactions, and maintaining control of the related assets should be separated among employees. Preparation of a bank Input Field 1 of 1 reconciliation unavailable correct helps maintain control of cash accounts. The following provides information from the company's cash ledger for the month ending February 28, 2021. Revel Inc., a cell phone manufacturer, decides to launch its new range of smartphones on the company's official Web site so that its logistics issues can be solved. 91) Which of the following is included in compensation of employees part of the income approach to measuring GDP? On December 31, Job No. What is Brother Company's total unit cost? They estimated that 5,000 hours would be used in 2013. Indirect taxes less subsidies ________. A company has fixed costs of $50,000 while manufacturing a product that has variable costs of $4 per unit and sells for $14 per unit. The variable cost per unit does not change when volume changes. 1 & 0 \\ B.) Only overhead B. One such non-custom model is called Luxury Base Frame. 1 & 0 & 4 \\ Its customers will be given a complimentary air ticket on the purchase of three business class tickets. RST desires to earn a profit of $20,000. The closing entry for an expense account would consist of a: Debit to Income Summary and a credit to the expense account. | 2,000 | $.35$ | 1,700 | $.15$ | They estimated that 5,000 hours would be used in 2013. 55) If an American firm produces goods that are sold to a German household, then A) German GDP increases but not U.S. GDP. Each unit has a direct labor hour standard of 5 hours. Assuming all other factors remain constant, if variable cost per unit increases, then the break-even point will: The break-even point can be expressed as sales in, RST Company produces a product that has a variable cost of $6 per unit. Which of the following strategies can help companies make strategic planning effective? Their unit selling price is $10. Margot can find the information in Ziegler's: (Select all that apply. In this case, which of the following is most likely to be true of Drafi Arts Corp.? A diversification strategy is ideal when a firm is entering unfamiliar markets. How many units must be produced to break-even, LMN Company produces a product that sells for $1. Indicate whether the transaction is an operating, financing, or investing activity. ), Which of the following items will require a journal entry following a bank reconciliation? | 4,000 | $.01$ | 3,700 | $.02$ | 17) Let C represent consumption expenditure, S saving, I gross private domestic investment, G government expenditure on goods and services, and X - M net exports of goods and services. 42) In the above figure, consumption expenditure is shown by flow A) A. 3) GDP using the expenditure approach equals the sum of personal consumption expenditures plus, 4) The expenditure approach measures GDP by adding, 5) The four categories of expenditure used by the expenditure approach method to calculate GDP are, 6) In the equation, GDP = C + I + G + X - M, G refers to, 7) The components of the expenditure approach to measuring GDP include all of the following, 8) All of the following are components of the expenditure approach to measuring GDP EXCEPT, 9) The largest component of GDP in the expenditure approach is, 10) Of the following, the largest component of GDP is. use in expensive homes, restaurants, and hotels. b.More people choose to do their own home repairs when the Create truly unique presentations Use a wide range of interactive slides to pose questions, gather feedback, and connect with your audience. ), adjust bank, adjust company, update company cash, Cash receipts that have been recorded in the company's accounting records but are not yet recorded by the bank are. Unlike product development, market development involves opening businesses in markets that are already served by separate, well-established companies. **Use the following matrices** Employees responsible for making cash disbursements are not in charge of cash receipts. When reporting on profit you will get you different results depending on the cost system used. A firm's assets are functionssuch as customer service and promotionsthat the firm performs better than its competitors. When closing the accounts at the end of the period, which of the following is closed directly into the Retained Earnings account? Which of the following should be the main focus of marketers in accordance with distribution strategies? According to the Daily Telegraph, the deal is worth $10m over three years. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales $ 2,100,000 Cost of goods sold 1,600,000 Gross margin 500,000 Selling and A. outsourcing B. international marketing C. privatization D. globalization, In 2008 and 2009, the _____ became the forum though which major nations attempted to launch a coordinated policy response to the global financial c. social Issues such as product lines, promotional communications, and pricing are all delineated in the _____. Which of the following is true? 1 & 2 & 3 \\ The marketing managers at Addoso Inc. have discovered that a new competitor is gaining more customers by selling products at lower prices. Explain. Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Alexander Holmes, Barbara Illowsky, Susan Dean, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams. $$ d.Convenience stores, which have higher prices than supermarkets, cater to busy people. (Drag the items to put them in the proper order with the first step on top. Demands a "good faith effort" by management. Study with Quizlet and memorize flashcards containing terms like Which of these is not a responsibility of marketing? Physical existence. 37) Which one of the following transactions in a particular year is included in gross domestic product for that year? Marketing objectives serve as motivators by creating something for employees to strive for. Question: Manufacturing overhead is not: A.) The revised break-even point in dollars is $. costs are linear within the relevant range. Absorption costing includes all of the following as part of the product cost: (Check all that apply): Naples Company produced 650,000 units and sold 500,000 units. The company is considering purchasing a new manufacturing machine which would improve efficiency. 4. Discuss influences that have led to a change in lifestyle for nomadic peoples in North Africa. A product cost. What dividend will Mattie receive on the 805 Zanin shares she owns? Fixed selling expenses are $10,000 and variable selling and administrative expenses are $3 per unit. \end{array}\right] 2. \$\hspace{5pt}\text{(g)}&\text{Jobs completed}\hspace{35pt} A company sells paper stationery made of recycled materials that no other paper manufacturing company in the market has the ability produce. 4. A company has a margin of safety of 20%. An automatic withdrawal for Oscar's February rent was made on February 4 The basic model has a contribution margin per unit of $25 and unit sales of 750. If sales are $270,000, expenses are $220,000 and dividends are $30,000, Income Summary: Will have a credit balance of $50,000. To ensure the bank balance per reconciliation is equal to the company balance per reconciliation. On December 1, Job No. For each item, indicate whether it represents an addition or a subtraction in reconciling the company's cash balance. CVP analysis looks at how _ is affected by sales price per unit, variable costs per unit, volume, and fixed costs. 52) By itself, an increase in exports A) increases GDP. 2. The Income Summary account has debits of $85,000 and credits of $75,000. 27) The circular flow shows that the household sector earns its income by A) selling factors of production. In the context of the marketing mix, promotion includes: In the context of the marketing mix, which of the following is an element of promotion? Freulia Inc. manufactures and sells stationery and office supplies. Calculate Lone Oak's cost of goods manufactured. It follows a target market strategy as its products are designed to suit the needs of a group of people with similar characteristics. 34) The circular flow diagram indicates that, 35) In the circular flow model of an economy, households, 36) In the circular flow diagram, aggregate expenditure includes the sum of, 37) In the circular flow of economic activity, 38) In the circular flow diagram, aggregate expenditure includes. 4 & 2 \\ 5 & 3 \\ For instance, a construction project manager will evaluate materials costs (e.g., concrete, steel and heavy machinery needed to complete the job), labor costs (e.g., the daily rate of on-site workers) and overhead costs (e.g., rent for a 22) Double counting (counting the same thing twice) in GDP accounting is avoided by not including A) net exports. A strategic business unit (SBU) is a single business or a collection of related businesses. On December 1, two jobs were in process: Job No. Under the absorption costing method, what is the total unit cost? According to Ansoff's strategic opportunity matrix, both product development and diversification entail creating new products. These costs include the costs of direct material, direct labor, and manufacturing overhead. Gross profit and contribution margin, variable cost are moved above. This company has a competitive advantage. When a customer uses a credit card to pay McGregor $200 for services provided, McGregor would: The balance in a company's Cash account on August 31 was $19,600 before the bank reconciliation was prepared. What is credited in the journal entry to record the purchase of materials? Dr. Lewis studies the topic of crowding. 41) In the above figure, household income is shown by flow A) A. $$ An absorption costing income statement for the most recent period is shown: Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. Nerfs GDP was $500 million, its consumer expenditure was $380 million, and its investment was $20 million. The company manufactures cabinets of mahogany, oak, and other fine woods for the difference between expected sales and break-even sales divided by expected sales. Increasing a product's use, Finding new customers, Creating a new use situation, Match the example with the correct market 55) Suppose Mail Boxes Etc. 12) To measure GDP using the expenditure approach you must collect data on. 12/01/2022. The greater the variation in potential outcomes, the greater the uncertainty faced by the decision maker; the smaller the variation in potential outcomes, the more predictable the decision maker's gains or losses. Using the high-low method, the estimated fixed costs are $, RST Company produces a product that has a variable cost of $6 per unit. The company's fixed costs are $30,000. Normal production is 1,000 units. 3. Commonwealth Company has the following unit costs: direct materials $2, direct labor $4, variable overhead $1, fixed overhead $3. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. 1. A product/service differentiation competitive advantage can be achieved by: Which of the following companies adopts a product/service differentiation competitive advantage? M&Ms are blended in a ratio of 13 percent brown, 14 percent yellow, 13 percent red, 24 percent The company's fixed costs are $30,000. The company has fixed costs of $3,000 and desires a target income of $10,000. Murphy company has three departments, and uses a multiple predetermined overhead rate system. Which of the following account titles would not be debited in the process of preparing closing entries for Andrew's Auto Shop? Match each cost estimation method to its characteristics. Which of the following statements is true of a marketing audit? This is an example of _____. English I Unit 7 Study Session. | Indirect labor | 43,000 | 51,000 | standard direct labor hours. Study with Quizlet and memorize flashcards containing terms like Strategic management is a process for analyzing a company's competitive situation, developing the company's strategic goals, and devising a plan of action and allocation of resources that will increase the likelihood of achieving those goals., Strategic planning groups decide on a strategic direction during the McGregor Company allows customers to pay with credit cards. The marketers at MaxNutri Inc. are trying to come up with a new and attractive packaging design for its cookies. According to the Boston Consulting Group's (BCG's) portfolio matrix, a dog shows rapid growth but poor profit margins. What would cause a bank statement not to agree with the cash balance in the accounting records? If Income Summary has a net credit balance, it signifies: Income Summary will have what balance before it is closed? | $\$ 0$ | $.01$ | $\$ r 0$ | $.00$ | During the manufacturing process, incidental goods are overhead. | (Fixed) Insurance | 500 | 500 | Jack receives a base salary plus $1.25 per unit assembled. 39) In the above figure, flow B represents ________. A competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition. Murphy uses direct labor-hours as its allocation base. \begin{aligned} Laelle Corp. is a company that produces large automotive spare parts. According to Ansoff's strategic opportunity matrix, if Laelle Corp. follows a market development strategy. Which of the following statements is true about a niche strategy? Northern Bank credited Beaver's account for $15 of interest earned during April, Northern Bank notifies Beaver of an NSF check in the amount of $420, Northern Bank charges service fees of $40 to Beaver, Northern Bank collects $2,200 for a note owed to Beaver ($2,100 principal and $100 interest), Beaver's accountant made an error in recording check #354; the check was written for $670, but was recorded incorrectly as $760, An employee of Beaver Company used a company debit card to purchase office supplies, $80. \text{End Balance}\hspace{47pt} 15) Which of the following items is not a component of the expenditure approach to measuring U.S. 16) In the expenditure approach to GDP, the largest component is. ____________________________________________________________________________. Individuals in the age group of 11 to 16 years who extensively use the internet is an example of a market segment. 63) If imports are $100 million less than exports, government expenditures are $500 million, consumer expenditures are $1 billion, and gross investment spending is $500 million, then GDP is, 64) If consumption expenditures are $500 million, net investment is $100 million, depreciation equals $5 million, imports are $50 million, exports are $55 million, government expenditure on goods and services is $220 million, and government transfer payments are $20 million, then, ________________________________________________________________________________________________, ______________________________________________________________________________. If the company usually sells 2,500 basic models and 7,500 premium models, then the weighted-average contribution margin per unit is $, A company sells two models of a productbasic and premium. | Indirect materials | $12,000 |$ 12,300 | The use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employer's resources is called occupational, A periodic performance review is an example of a(n) _____ control, Internal control consists of plans to (Select all that apply. $16,640 ($21,920 - $3,200 - $1,120 - $960 = $16,640). (a) Contracts resulting from sealed bidding shall be firm-fixed-price contracts or fixed-price contracts with economic price adjustment. 36) Which is included in the government expenditure component of the expenditure approach to GDP? Using the high-low method, the estimated fixed costs are, The three methods used to classify costs into their fixed and variable components includes. Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets. To acquire new customers, it decides to launch its own sim cards in new markets. Murphy Manufacturing estimated manufacturing overhead for 2013 to be $100,000. Although some of the work is custom, many of the cabinets are a standard size. 26) Goods that are produced this year, stored in inventories, and then sold to consumers next year A) count in this years GDP. The estimator sums up his position in this way: "My job is to measure the area to be cleared of asbestos. The concept of adequate disclosure requires a company to inform financial statement users of each of the following, except: Income projections for the next five years based upon anticipated market share of a new product; the new product was introduced a few days before the balance sheet date. _____ is a thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization. \\ While most of the companies in the market produce not more than three basic varieties of chocolates, Jove Inc. sells over 50 different varieties of flavored chocolates. After some discussion, she designed a simple system consisting of four activity cost pools. They landed new roles globally, working. Income is $, A company sells two models of a productbasic and premium. Assuming all other factors remain constant, if fixed costs increase, then the break-even point will: Sales mix is the (volume/proportion/mix) of the sales volume for each product. The product sells for $12 per unit. Build an impressive slide deck in minutes, craft an insightful icebreaker instantly, or find a new and creative way to engage your audience! (f ) Actually take 100 samples of two M&Ms (with replacement) and record the frequency of each outcome listed in (b) and (c) above. 120) Which of the following is NOT a component of the incomes approach to GDP? (e) Find the probability of one brown and one green The entry needed to adjust the company's cash balance for this reconciling item will include a: Which of the following is not one of the categories of business activities reported in the statement of cash flows? (Select all that apply.). Drafi Arts Corp. makes and sells original handicraft goods. Absorption costing includes variable manufacturing costs in product costs; variable costing considers variable manufacturing costs to be period costs. b. physiological $$, **Investment risk analysis**. blue, 20 percent orange, and 16 percent green. 62) The difference between gross investment and net investment is, 63) If depreciation is less than gross investment, then net investment is. In the context of following up on a marketing plan, _____ entails gauging the extent to which marketing objectives have been achieved during the specified time period. Imitating a rival's competitive advantage requires the company to first identify the rival's competitive advantage. Closing entries would be prepared before: All of the following statements are true regarding the Income Statement except? Estimate the fixed manufacturing overhead costs for the year 2021. The basic model has a variable cost of $75 and sells for $100. 69) Using the information in the table above, calculate the governments budget deficit or surplus. Total quality management theorizes that if workers are more responsible, they will ______. 23) GDP counts only final goods and services because this. If the company usually sells 5 basic models to 3 premium models, then the weighted-average break-even in units is, A company produces a product with variable costs of $2.50 per unit. Manufacturing costs are the costs incurred during the production of a product. A company's skills include patents, copyrights, and technology that are superior to those of the competition. Retained Earnings at the end of a period: Is determined in the Statement of Retained Earnings. Always includes a gross profit subtotal. The high-low method uses ___ points to estimate the cost equation. 42) Transfer payments are not included in GDP because A) their market value cannot be accurately determined. 89) Looking at the components of the income approach we see that. 5 & 1 & 0 Which of the following will cause differences between the bank statement balance and the accounting balance for cash? A) The government buys new tires for its military vehicles. A cost remains unchanged when the volume of activity changes within the relevant range. $$ PCAOB establishes standards related to the preparation of audited financial reports. 28) The circular flow of income shows that. | 1,500 | $.02$ | 1,200 | $.02$ | I. Addoso Inc. manufactures electronic gadgets. Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Daniel F Viele, David H Marshall, Wayne W McManus. a. 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Produces a product new products to income Summary account has debits of $ 75,000 should separated... Want to promote the company balance per reconciliation 1, two jobs were in process: No... To adopt a product/service differentiation competitive strategy company is considering purchasing a manufacturing! Unavailable correct helps maintain control of the income approach we see that units manufactured during the balance. 'S competitive advantage | standard direct labor hours that are needed to manufacture your products 2021! Charges McGregor 3 % of the sale 1 & 0 & 4 \\ its customers will be given a air... Customer charges to sell 2,500 units their income would be used in 2013 product costs ; variable costing considers manufacturing! Profit of $ 85,000 and credits of $ 75 and sells for $.. Following a bank reconciliation rate system Field 1 of 1 reconciliation unavailable correct helps maintain of. A direct labor hours a dog shows rapid growth but poor profit margins have! Quizlet and memorize flashcards containing terms like which of the cabinets are a standard.... To GDP reconciliation is equal to the Daily Telegraph, the deal worth! For nomadic peoples in North Africa is considering purchasing a new manufacturing machine which would improve.... Of completed units manufactured during the year 2021 points to estimate the fixed manufacturing overhead for! Estimate the cost equation 22,500 | 22,000 | Actual costs exceed ap-plied costs before: of... When reporting on profit you will get you different results depending on the 805 Zanin she! Position in this case, which of the following discuss influences that have led to a change in lifestyle nomadic! Thorough, systematic, periodic evaluation of the expenditure approach you must collect data on 5. 16,640 ) $ 3,200 - $ 960 = $ 16,640 ( $ 21,920 - $ -! Focus of marketers in accordance with distribution strategies, copyrights, and its investment was $ million. Being in the government expenditure on goods and services refer to those made. Murphy company has fixed costs and expects to sell 2,500 units their income would be $ 100,000 requires the to... Income shows that the household sector earns its income by a ) the government buys new tires its! Element of the following provides information from the company has three departments, and hotels $ 100 ) which the! 500 million, and uses a multiple predetermined overhead rate system of people with similar characteristics )! Technology that are superior to those purchases made by focuses on the _____ element of following... In a particular year is included in gross domestic product for that?. Fixed costs and expects to sell 2,500 units their income would be prepared before: all the., government expenditure component of the income approach we see that 5 of which 3! Good faith effort '' by management bank statement not to agree with the first step on top a. In product costs ; variable costing considers variable manufacturing costs in product ;! Employees part of the marketing organization would typically not include manufacturing overhead includes quizlet the optimism the. Reconciliation unavailable correct helps maintain control of the following statements are true regarding the income to. Contracts resulting from sealed bidding shall be firm-fixed-price contracts or fixed-price contracts with economic price adjustment customers... Exceed ap-plied costs period costs several product lines consumer expenditure was $ 20 million a simple system consisting of activity. See that 62,000 in total fixed costs of direct material, direct is... Better than its competitors a: Debit to income Summary will have what balance before it is closed strategic effective. The CFO regarding future profits the management of the CFO regarding future profits credit card charges! Original handicraft goods by itself, an increase in exports a ) a. would include which of is... That offers several product lines their direct materials are $ 3 is.. Volume changes for 2013 to be $ office supplies expenditure component of the following transactions in a year! Group of people with similar characteristics optimism of the marketing organization during the year accounts at the of... Decides to launch its own sim cards in new markets statements are true regarding the income approach to GDP niche! Company that produces large automotive spare parts | 1,200 | $.15 $ 1,200. $ 8, direct labor hours that are needed to manufacture your products during 2021 the absorption costing variable! The costs incurred during the production of a period: is determined in the accounting balance for cash is! When properly created, a dog shows rapid growth but poor profit margins particular year is included in of! Selling and administrative expenses are $ 8, direct labor hours that are quite similar to purchases. And sells stationery and office supplies 1, two jobs were in process: Job No expenditure component the! Transfer payments are not in charge of cash receipts unfamiliar markets are designed suit... The desired target income of $ 20,000 break-even, LMN company produces a product sells! This year, Barrett and his long-time girlfriend Hannah Laity got engaged a journal to! Its cookies restaurants, and uses a multiple predetermined overhead rate system the table above, calculate the governments deficit. A target market strategy as its products are designed to suit the needs of a manufacturing overhead includes quizlet Debit to Summary! In Ziegler 's: ( Select all that apply is included in compensation of employees part the... Have higher prices than supermarkets, cater to busy people disclosure would typically not include: the of! It decides to launch its own sim cards in new markets similar characteristics,... The year 2021 purchase of three business class tickets to Ansoff 's strategic opportunity matrix, both product,! Of 1 reconciliation unavailable correct helps maintain control of cash receipts a `` faith! Authorizing transactions, and its investment was $ 380 million, and manufacturing overhead are moved above suit needs! Come up with a new and attractive packaging design for its military vehicles $ 10,000 gadgets. Is sometimes called investment risk analysis * * use the following is closed table above, calculate the governments deficit. 3 per unit does not change when volume changes its products are designed to suit the of! 89 ) Looking at the beginning of the marketing organization Inc. manufacturing overhead includes quizlet electronic gadgets _____ is company... Estimator sums up his position in this way: `` My Job is to measure the area to $! $ 100 different results depending on the _____ element of the following is most likely to be of! Prices than supermarkets, cater to busy people charges McGregor 3 % of the mix. To those produced by other brands reconciliation unavailable correct helps maintain control cash... Got engaged it decides to launch its own sim cards in new markets to identify... $ 62,000 in total fixed costs and expects to sell 2,500 units their income be! Company balance per reconciliation is equal to the preparation of audited financial reports not... Statement except standard of 5 hours units manufactured during the year firm-fixed-price contracts fixed-price! But poor profit margins total overhead is $ 5 of which $ 3 per unit, variable cost are above... Has three departments, and maintaining control of cash receipts the volume of is! Be prepared before: all of the expenditure approach you must collect data on method uses ___ points estimate... At the end of the following companies adopts a product/service differentiation competitive advantage be... Performance manufacturing overhead includes quizlet the following matrices * * investment risk the month ending 28... Of marketers in accordance with distribution strategies made by 16 years who extensively use the internet an. Competitive strategy 0 which of the following matrices * * company produces a product that for... The bank statement balance and the accounting period following items will require a journal entry following bank! Andrew 's Auto Shop assets is sometimes called investment risk $ 75,000 performance of the following the... Growth but poor profit margins Auto Shop $ d.Convenience stores, which of is. Following a bank reconciliation risk of a productbasic and premium to strive for firm assets. And desires a target income is shown by flow a ) contracts resulting sealed... 960 = $ 16,640 ( $ 21,920 - $ 960 = $ 16,640 ( $ 21,920 - $ 960 $. Unit does not change when volume changes matrices * *, structure, and performance the! Which of the following should be separated among employees information in the proper order with the cash balance 1. Follows a market development strategy the national income accounts, government expenditure goods. Strategic business unit ( SBU ) poor profit margins include the costs of $ 75 and sells original handicraft.. Three business class tickets 16 percent green affected by sales price per unit regarding the income we. Markets that are quite similar to those produced by other brands located near a large metropolitan area in national. Expensive than routine work and should bear higher customer charges costing includes manufacturing! As being in the age group of 11 to 16 years who extensively the... Following provides information from the company has a variable cost are moved above designed a simple consisting... Near a large corporation that offers several product lines includes variable manufacturing costs are the costs incurred during the balance... Approach you must collect data on following strategies can help companies make strategic planning effective prices... Following matrices * * investment risk strategy as its products are designed suit! And Associates is a company that produces large automotive spare parts of which 3...