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Grade 10 Accounting Questions asked by Filo students

Question 41

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the relationship between the cumulative average directs labor hour and cumulative output and verifies that.

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Accounting

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Question 42

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Interpreting regression results, matching time periods. Nandita Summers works at Modus, a store that caters to fashion for young adults. Nandita is responsible for the store’s online advertising and promotion budget. For the past year, she has studied search engine optimization and has been purchasing keywords and display advertising on Google, Facebook, and Twitter. In order to analyze the effectiveness of her efforts and to decide whether to continue online advertising or move her advertising dollars back to traditional print media, Nandita collects the following data: 1. Nandita performs a regression analysis, comparing each month’s online advertising expense with that month’s revenue. Verify that she obtains the following result: Required Revenue =

51, 999.64 - (0.98 \times O n l in e a d v er t i s in g e x p e n se) 2. Pl o tt h e p rece d in g d a t a o na g r a p han dd r a wt h ere g ress i o n l in e . Wha t d oes t h ecos t f or m u l ain d i c a t e ab o u tt h ere l a t i o n s hi p b e tw ee nm o n t h l yo n l in e a d v er t i s in g e x p e n se an d m o n t h l yre v e n u es ? I s t h ere l a t i o n s hi p eco n o mi c a ll y pl a u s ib l e ? 3. A f t er f u r t h er t h o ug h t, N an d i t a re a l i zes t h ere ma y ha v e b ee na f l a w inh er a pp ro a c h . I n p a r t i c u l a r, t h ere ma y b e a l a g b e tw ee n t h e t im ec u s t o m ersc l i c k t h ro ug h t o t h e M o d u s w e b s i t e an d p er u se i t ssoc ia l m e d ia co n t e n t (w hi c hi s w h e n t h eo n l in e a d e x p e n se i s in c u rre d) an d t h e t im e t h ey a c t u a ll ys h o p in t h e p h ys i c a l s t ore . N an d i t am o d i f i es h er ana l ys i s b yco m p a r in g e a c hm o n t h ’ ss a l esre v e n u e t o t h e a d v er t i s in g e x p e n se in t h e p r i or m o n t h . A f t er d i sc a r d in g S e pt e mb erre v e n u e an d A ugu s t a d v er t i s in g e x p e n se, s h o wt ha tt h e m o d i f i e d re g ress i o n y i e l d s t h e f o ll o w in g : R e v e n u e =

28 , 361.37 + ( 5.38 × Online advertising expense ) 4. What does the revised formula indicate? Plot the revised data on a graph. Is this relationship economically plausible? 5. Can Nandita conclude that there is a cause-and-effect relationship between online advertising expense and sales revenue? Why or why not?

Topic:

Accounting

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Question 43

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The schedule for the cost of goods manufactured and sold.

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Accounting

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Question 44

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Compare the three simple regression Modal

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Accounting

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Question 45

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To construct: The separate graphs for each of the three contracts, with costs on the vertical axis and miles traveled on the horizontal axis.

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Accounting

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Question 46

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Various cost-behavior patterns. (CPA, adapted). The vertical axes of the graphs below represent total cost, and the horizontal axes represent units produced during a calendar year. In each case, the zero point of dollars and production is at the intersection of the two axes. Select the graph that matches the numbered manufacturing cost data (requirements 1–9). Indicate by letter which graph best fits the situation or item described. The graphs may be used more than once. Required 1. Annual depreciation of equipment where the amount of depreciation charged is computed by the machine-hours method. 2. Electricity bill—a flat fixed charge, plus a variable cost after a certain number of kilowatt-hours are used, in which the quantity of kilowatt-hours used varies proportionately with quantity of units produced. 3. City water bill, which is computed as follows: First 1,000,000 gallons or less

1, 000 f l a t f ee N e x t 10, 000 g a ll o n s

0.003 per gallon used Next 10,000 gallons

0.006 p er g a ll o n u se d N e x t 10, 000 g a ll o n s

0.009 per gallon used and so on and so on The gallons of water used vary proportionately with the quantity of production output. 4. Cost of direct materials, where direct material cost per unit produced decreases with each pound of material used (for example, if 1 pound is used, the cost is

10; i f 2 p o u n d s a re u se d, t h ecos t i s

19.98; if 3 pounds are used, the cost is

29.94), w i t haminim u m cos tp er u ni t o f

9.20. 5. Annual depreciation of equipment, where the amount is computed by the straight-line method. When the depreciation schedule was prepared, it was anticipated that the obsolescence factor would be greater than the wear-and-tear factor. 6. Rent on a manufacturing plant donated by the city, where the agreement calls for a fixed-fee payment unless 200,000 labor-hours are worked, in which case no rent is paid. 7. Salaries of repair personnel, where one person is needed for every 1,000 machine-hours or less (that is, 0 to 1,000 hours requires one person, 1,001 to 2,000 hours requires two people, and so on). 8. Cost of direct materials used (assume no quantity discounts). 9. Rent on a manufacturing plant donated by the county, where the agreement calls for rent of

100, 000 t o b ere d u ce d b y

1 for each direct manufacturing labor-hour worked in excess of 200,000 hours, but a minimum rental fee of $20,000 must be paid.

Topic:

Accounting

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Question 47

Views: 5,989

The schedule for the cost of goods manufactured and sold.

Topic:

Accounting

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Question 48

Views: 5,512

Various cost-behavior patterns. (CPA, adapted). The vertical axes of the graphs below represent total cost, and the horizontal axes represent units produced during a calendar year. In each case, the zero point of dollars and production is at the intersection of the two axes. Select the graph that matches the numbered manufacturing cost data (requirements 1–9). Indicate by letter which graph best fits the situation or item described. The graphs may be used more than once. Required 1. Annual depreciation of equipment where the amount of depreciation charged is computed by the machine-hours method. 2. Electricity bill—a flat fixed charge, plus a variable cost after a certain number of kilowatt-hours are used, in which the quantity of kilowatt-hours used varies proportionately with quantity of units produced. 3. City water bill, which is computed as follows: First 1,000,000 gallons or less

1, 000 f l a t f ee N e x t 10, 000 g a ll o n s

0.003 per gallon used Next 10,000 gallons

0.006 p er g a ll o n u se d N e x t 10, 000 g a ll o n s

0.009 per gallon used and so on and so on The gallons of water used vary proportionately with the quantity of production output. 4. Cost of direct materials, where direct material cost per unit produced decreases with each pound of material used (for example, if 1 pound is used, the cost is

10; i f 2 p o u n d s a re u se d, t h ecos t i s

19.98; if 3 pounds are used, the cost is

29.94), w i t haminim u m cos tp er u ni t o f

9.20. 5. Annual depreciation of equipment, where the amount is computed by the straight-line method. When the depreciation schedule was prepared, it was anticipated that the obsolescence factor would be greater than the wear-and-tear factor. 6. Rent on a manufacturing plant donated by the city, where the agreement calls for a fixed-fee payment unless 200,000 labor-hours are worked, in which case no rent is paid. 7. Salaries of repair personnel, where one person is needed for every 1,000 machine-hours or less (that is, 0 to 1,000 hours requires one person, 1,001 to 2,000 hours requires two people, and so on). 8. Cost of direct materials used (assume no quantity discounts). 9. Rent on a manufacturing plant donated by the county, where the agreement calls for rent of

100, 000 t o b ere d u ce d b y

1 for each direct manufacturing labor-hour worked in excess of 200,000 hours, but a minimum rental fee of $20,000 must be paid.

Topic:

Accounting

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Question 49

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The preceding cost as variable, fixed or mixed.

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Accounting

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Question 50

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The linear cost equation, relating total overhead costs to physician contact hours and to plot the linear equation and to identify whether the consonant component of the cost function represent the fixed overhead cost.

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Accounting

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Question 51

Views: 5,401

the equation of the high low method Given information: Highest cost of purchase is

17, 280. H i g h es tq u an t i t y p u rc ha se d i s 4, 068. L o w ercos t o f p u rc ha se v a l u e i s

10,272. Lower number of quantity purchased is 2,316.

Topic:

Accounting

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Question 52

Views: 5,047

cost equation for the quarterly data by using the high low method. Given information: Highest maintenance cost value is

280, 000. H i g h es t ma c hin ery h o u rs a re 140, 000. L o w er main t e nan cecos t v a l u e i s

190,000. Lower machinery hours are 95,000.

Topic:

Accounting

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Question 53

Views: 5,298

Decisions Process: The decision making process is that process through which management has to take the decision. Management identifies and chooses the decision from the alternative resolution from the gathered information. To explain: Fives steps in the decision making process.

Topic:

Accounting

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Question 54

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Distinguish between quantitative and qualitative factors in decision making.

Topic:

Accounting

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Question 55

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“Variable costs are always relevant, and fixed costs are always irrelevant.” Do you agree? Why?

Topic:

Accounting

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Question 56

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“A component part should be purchased whenever the purchase price is less than its total manufacturing cost per unit.” Do you agree? Why?

Topic:

Accounting

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Question 57

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Opportunity Cost: Opportunity cost is total of potential income and other benefits that are lost due to rejection of alternatives. These costs are considered to evaluate the multiple project or options available. To explain: Opportunity cost.

Topic:

Accounting

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Question 58

Views: 5,986

Whether to accept the B corporation offer or not.

Topic:

Accounting

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Question 59

Views: 5,060

CC purchase or buy garden tools

Topic:

Accounting

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Question 60

Views: 5,962

If the project should be accepted or not on the basis of the financial consideration.

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Accounting

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