ACCT 434 Week 3 Cost Behavior Decision Making Quality .pdf
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DEVRY ACCT 434 Week 3 Cost Behavior
Decision Making Quality
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(TCO 3) Dougherty Company employs 20 individuals. Eight employees are paid $12
per hour and the rest are salaried employees paid $3,000 a month. How would total
costs of personnel be classified?
(TCO 3) For January, the cost components of a picture frame include $0.35 for the
glass, $0.65 for the wooden frame, and $0.80 for assembly. The assembly desk and
tools cost $400. A total of 1,000 frames is expected to be produced in the coming
year. What cost function best represents these costs?
(TCO 3) Which cost estimation method uses a formal mathematical method to
develop cost functions based on past data?
(TCO 3) Penny's TV and Appliance Store is a small company that has hired you to
perform some management advisory services. The following information pertains to
20X8 operations: Sales (2,000 televisions) $900,000; Cost of goods sold $400,000;
Store manager's salary per year $70,000; Operating costs per year $157,000;
Advertising and promotion per year $15,000; Commissions (4% of sales) $36,000.
What are the estimated total costs if Penny's expects to sell 3,000 units next year?
(TCO 4) The formal process of choosing among alternatives is known as a(n)
(TCO 4) When using the five-step decision process, which one of the following steps
should be done last?
(TCO 4) Sunk costs
(TCO 4) Northwoods Incorporated manufactures rustic furniture. The cost
accounting system estimates manufacturing costs to be $90 per table, consisting of
80% variable costs and 20% fixed costs. The company has surplus capacity available.
It is Northwoods' policy to add a 50% markup to full costs. A large hotel chain is
currently expanding and has decided to decorate all new hotels using the rustic style.
Northwoods is invited to submit a bid to the hotel chain. What is the lowest price per
unit Northwoods should bid on this long-term order?
(TCO 5) Throughput contribution equals revenues minus
(TCO 5) A machine has been identified as a bottleneck and the source of the
constraint for a manufacturing company that has multiple products and multiple
machines. One way the company can overcome the bottleneck is
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