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(TCO 3) Managers are often required to make decisions about the future based on all the following except:

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1. (TCO 3) Managers are often required to make decisions about the future based on all the following except:

2. (TCO 3) The process of creating a formal plan and translating goals into a quantitative format is called:

3. (TCO 3) The Coyote Cafe had sales revenues and food costs in 2007 of $800,000 and $600,000, respectively. In 2008, Coyote will be introducing a new menu item that will generate $100,000 in sales revenues and $45,000 in food costs. Assuming no changes are expected for the other food items, the differential revenue for 2008 is:

4. (TCO 1) The terms direct cost and indirect cost are commonly used in accounting. A particular cost might be considered a direct cost of a manufacturing department, but an indirect cost of the product produced in the manufacturing department. Classifying a cost as either direct or indirect depends upon:

5. (TCO 1) Which of the following is NOT a product cost under full absorption costing?

6. (TCO 1) Calculate the prime costs from the following information:

Fixed manufacturing overhead

$2,000

Variable manufacturing overhead

1,500

Direct materials

4,000

Direct labor

3,000

7. (TCO 1) The excess of sales over variable costs is termed:

8. (TCO 6) Western Sales has the following information concerning its one and only product:

9. (TCO 6) When the sales volume equals total costs and there is zero profit or loss, this is termed:

10. (TCO 6) Western Sales has the following information concerning its one and only product:

Selling price per unit: $40
 Variable cost per unit: $15
 Total fixed costs: $250,000
 
 Compute the break-even point in units.

11. (TCO 5) The time from research and development until the support to the customer ends is termed:

12. (TCO 5) Costs that differ between two or more alternatives are termed:

13. (TCO 5) Which of the following costs are irrelevant for a special order that will allow an organization to utilize some of its present idle capacity?

14. (TCO 3) The cost estimation method that is based on two cost observations is called the:

15. (TCO 3) We use cost estimation to determine:

16. (TCO 3) The systematic relationship between the amount of experience in performing a task and the time required to perform it is known as the:

17. (TCO 2) Which of the following statements does not reflect one of the fundamental themes underlying the design of cost systems for managerial purposes?

18. (TCO 2) In a labor intensive company in which more overhead is used by the more highly skilled and paid employees, which activity base would be most appropriate for applying overhead to production?

19. (TCO 2) What is the amount transferred in for Case C?

Case C

Beginning balance

$7,900

Ending balance

8,300

Transferred in

????

Transferred out

21,100

20. (TCO 2) The UVW Manufacturing Company produces a single uniform product throughout the year. Which of the following product costing systems should be used by UVW?

21. (TCO 6) T-Tunes, Inc. is considering the introduction of a new music player with the following price and cost characteristics:

Sales price per unit: $125

Variable cost per unit: $80

Annual fixed costs: $180,000

(a) How many units must T-Tunes sell to break even?

(b) How many units must T-Tunes sell to make an operating profit of $120,000 for the year?

© What will the operating profit be, assuming that the projected sales for the year are 7,500 units?

Consider requirements (b) and © independent of each other.

22. (TCO 4) Kramer Company has decided to use a predetermined rate to assign factory overhead to production. The following predictions have been made for 2010:

Total factory overhead costs

$180,000

Direct labor hours

50,000 hours

Direct labor costs

$250,000

Machine hours

60,000 hours

23. Compute the predetermined factory overhead rate under three different bases: (1) direct labor hours, (2) direct labor costs, and (3) machine hours.

24. (TCO 1) Best Corporation incurred the following costs:

Beginning direct materials inventory

$ 17,000

Beginning work-in-process inventory

8,000

Beginning finished goods inventory

18,000

Ending direct materials inventory

15,000

Ending work-in-process

13,000

Ending finished goods

24,000

Factory supervisor’s salary

25,000

Depreciation on plant

10,000

Sales

650,000

Selling and administrative expenses

100,000

Plant maintenance

5,000

Plant utilities

9,000

Direct material purchases

185,000

Direct labor

200,000

25. Calculate the following values:

(a)

direct materials used

(b)

cost of goods manufactured

©

cost of goods sold

(d)

net income

26. (TCO 5) The following information relates to a product produced by Bayfield Company:

Direct materials

$50

Direct labor

35

Variable overhead

30

Fixed overhead

40

Unit cost

$155

27.

Fixed selling costs are $1,000,000 per year. Although production capacity is 900,000 units per year, Bayfield expects to produce only 800,000 units next year. The product normally sells for $180 each. A customer has offered to buy 60,000 units for $150 each. Compute the effect on the net income if Bayfield accepts the special order.

(TCO 4) Debbie Edwards, a U.S. citizen using the calendar year as her tax year and making Italy her tax home,

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1. (TCO 4) Debbie Edwards, a U.S. citizen using the calendar year as her tax year and making Italy her tax home, became a bona fide resident of Italy on November 3, 2013. Her salary in 2015 is 151,000. How much of her salary is susbject to U.S. tax? (Points : 5)

Question 2.2. (TCO 8) Mr. and Mrs. Jones filed a fraudulent return for 2013 on December 25, 2014. When will the statute of limitations expire for their 2013 return? (Points : 5)

Question 3.3. (TCO 9) Which of the following statements best describes the definition of taxable income from business operations? (Points : 5)

Question 4.4. (TCO 10) Which of the following statements about tax basis is false? (Points : 5)

Question 5.5. (TCO 3) Under the curent law, the child tax credit is refundable to families with children: (Points : 5)

Question 6.6. (TCO 1) Which of the following sources of tax law carries the least authority? (Points : 5)

Question 7.7. (TCO 1) Which of the following sources of tax law carries the most authority? (Points : 5)

Question 8.8. (TCO 2) The city of Chicago operated at an $100,000 surplus this year. The surplus suggests that the municipal tax system is _____. (Points : 5)

Question 9.9. (TCO 2) The city of Norland operated at a $12 billion deficit this year. The deficit suggests that Norland’s tax system is _____. (Points : 5)

Question 10.10. (TCO 1) The Internal Revenue Code is an example of _____. (Points : 5)

Question 11.11. (TCO 1) An example of Treasury regulations are _____. (Points : 5)

Question 12.12. (TCO 2) A tax that is based on a person’s eye color does not meet the standard that a good tax should be _____. (Points : 5)

Question 13.13. (TCO 3) How would you explain the formula for computing individual taxable income. Why do you think this formula is so much more complicated than the formula for computing corporate taxable income? (Points : 30)

14. (TCO 1) Explain the three sources of tax law and the importance of each. Which source do you think is the most important? (Points : 30)

15. Explain the relationship between tax base and tax rate in determining the revenue collected by the government. Give an example of how a particular tax would fit into the various components of the equation

16. D Trucking uses the accrual method of accounting. Below is a reconciliation of D Trucking’s allowance for bad debts for the current year.

17. (TCO 4) Mr. and Mrs. Adam moved from Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation. As part of her employment contract, Mrs. Adams received a $10,000 moving allowance. What is the effect of this $10,000 cash receipt on the couple’s AGI assuming the following?

ACC 425 Milestone 5 Admission-Seeking Questions

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ACCT 244 Fundamentals to Cost Accounting Week 4 Midterm Answers

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ACCT 244 Week 4 Midterm Answers

1. (TCO 3) Managers are often required to make decisions about the future based on all the following except:

2. (TCO 3) The process of creating a formal plan and translating goals into a quantitative format is called:

3. (TCO 3) The Coyote Cafe had sales revenues and food costs in 2007 of $800,000 and $600,000, respectively. In 2008, Coyote will be introducing a new menu item that will generate $100,000 in sales revenues and $45,000 in food costs. Assuming no changes are expected for the other food items, the differential revenue for 2008 is:

4. (TCO 1) The terms direct cost and indirect cost are commonly used in accounting. A particular cost might be considered a direct cost of a manufacturing department, but an indirect cost of the product produced in the manufacturing department. Classifying a cost as either direct or indirect depends upon:

5. (TCO 1) Which of the following is NOT a product cost under full absorption costing?

6. (TCO 1) Calculate the prime costs from the following information:

Fixed manufacturing overhead

$2,000

Variable manufacturing overhead

1,500

Direct materials

4,000

Direct labor

3,000

7. (TCO 1) The excess of sales over variable costs is termed:

8. (TCO 6) Western Sales has the following information concerning its one and only product:

9. (TCO 6) When the sales volume equals total costs and there is zero profit or loss, this is termed:

10. (TCO 6) Western Sales has the following information concerning its one and only product:

Selling price per unit: $40
 Variable cost per unit: $15
 Total fixed costs: $250,000
 
 Compute the break-even point in units.

11. (TCO 5) The time from research and development until the support to the customer ends is termed:

12. (TCO 5) Costs that differ between two or more alternatives are termed:

13. (TCO 5) Which of the following costs are irrelevant for a special order that will allow an organization to utilize some of its present idle capacity?

14. (TCO 3) The cost estimation method that is based on two cost observations is called the:

15. (TCO 3) We use cost estimation to determine:

16. (TCO 3) The systematic relationship between the amount of experience in performing a task and the time required to perform it is known as the:

17. (TCO 2) Which of the following statements does not reflect one of the fundamental themes underlying the design of cost systems for managerial purposes?

18. (TCO 2) In a labor intensive company in which more overhead is used by the more highly skilled and paid employees, which activity base would be most appropriate for applying overhead to production?

19. (TCO 2) What is the amount transferred in for Case C?

Case C

Beginning balance

$7,900

Ending balance

8,300

Transferred in

????

Transferred out

21,100

20. (TCO 2) The UVW Manufacturing Company produces a single uniform product throughout the year. Which of the following product costing systems should be used by UVW?

21. (TCO 6) T-Tunes, Inc. is considering the introduction of a new music player with the following price and cost characteristics:

Sales price per unit: $125

Variable cost per unit: $80

Annual fixed costs: $180,000

(a) How many units must T-Tunes sell to break even?

(b) How many units must T-Tunes sell to make an operating profit of $120,000 for the year?

© What will the operating profit be, assuming that the projected sales for the year are 7,500 units?

Consider requirements (b) and © independent of each other.

22. (TCO 4) Kramer Company has decided to use a predetermined rate to assign factory overhead to production. The following predictions have been made for 2010:

Total factory overhead costs

$180,000

Direct labor hours

50,000 hours

Direct labor costs

$250,000

Machine hours

60,000 hours

23. Compute the predetermined factory overhead rate under three different bases: (1) direct labor hours, (2) direct labor costs, and (3) machine hours.

24. (TCO 1) Best Corporation incurred the following costs:

Beginning direct materials inventory

$ 17,000

Beginning work-in-process inventory

8,000

Beginning finished goods inventory

18,000

Ending direct materials inventory

15,000

Ending work-in-process

13,000

Ending finished goods

24,000

Factory supervisor’s salary

25,000

Depreciation on plant

10,000

Sales

650,000

Selling and administrative expenses

100,000

Plant maintenance

5,000

Plant utilities

9,000

Direct material purchases

185,000

Direct labor

200,000

25. Calculate the following values:

(a)

direct materials used

(b)

cost of goods manufactured

©

cost of goods sold

(d)

net income

26. (TCO 5) The following information relates to a product produced by Bayfield Company:

Direct materials

$50

Direct labor

35

Variable overhead

30

Fixed overhead

40

Unit cost

$155

27.

Fixed selling costs are $1,000,000 per year. Although production capacity is 900,000 units per year, Bayfield expects to produce only 800,000 units next year. The product normally sells for $180 each. A customer has offered to buy 60,000 units for $150 each. Compute the effect on the net income if Bayfield accepts the special order.

ACCT 244 Week 4 Midterm Answers

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ACCT 244 Week 4 Midterm Answers

1. (TCO 3) Managers are often required to make decisions about the future based on all the following except:

2. (TCO 3) The process of creating a formal plan and translating goals into a quantitative format is called:

3. (TCO 3) The Coyote Cafe had sales revenues and food costs in 2007 of $800,000 and $600,000, respectively. In 2008, Coyote will be introducing a new menu item that will generate $100,000 in sales revenues and $45,000 in food costs. Assuming no changes are expected for the other food items, the differential revenue for 2008 is:

4. (TCO 1) The terms direct cost and indirect cost are commonly used in accounting. A particular cost might be considered a direct cost of a manufacturing department, but an indirect cost of the product produced in the manufacturing department. Classifying a cost as either direct or indirect depends upon:

5. (TCO 1) Which of the following is NOT a product cost under full absorption costing?

6. (TCO 1) Calculate the prime costs from the following information:

Fixed manufacturing overhead

$2,000

Variable manufacturing overhead

1,500

Direct materials

4,000

Direct labor

3,000

7. (TCO 1) The excess of sales over variable costs is termed:

8. (TCO 6) Western Sales has the following information concerning its one and only product:

9. (TCO 6) When the sales volume equals total costs and there is zero profit or loss, this is termed:

10. (TCO 6) Western Sales has the following information concerning its one and only product:

Selling price per unit: $40
 Variable cost per unit: $15
 Total fixed costs: $250,000
 
 Compute the break-even point in units.

11. (TCO 5) The time from research and development until the support to the customer ends is termed:

12. (TCO 5) Costs that differ between two or more alternatives are termed:

13. (TCO 5) Which of the following costs are irrelevant for a special order that will allow an organization to utilize some of its present idle capacity?

14. (TCO 3) The cost estimation method that is based on two cost observations is called the:

15. (TCO 3) We use cost estimation to determine:

16. (TCO 3) The systematic relationship between the amount of experience in performing a task and the time required to perform it is known as the:

17. (TCO 2) Which of the following statements does not reflect one of the fundamental themes underlying the design of cost systems for managerial purposes?

18. (TCO 2) In a labor intensive company in which more overhead is used by the more highly skilled and paid employees, which activity base would be most appropriate for applying overhead to production?

19. (TCO 2) What is the amount transferred in for Case C?

Case C

Beginning balance

$7,900

Ending balance

8,300

Transferred in

????

Transferred out

21,100

20. (TCO 2) The UVW Manufacturing Company produces a single uniform product throughout the year. Which of the following product costing systems should be used by UVW?

21. (TCO 6) T-Tunes, Inc. is considering the introduction of a new music player with the following price and cost characteristics:

Sales price per unit: $125

Variable cost per unit: $80

Annual fixed costs: $180,000

(a) How many units must T-Tunes sell to break even?

(b) How many units must T-Tunes sell to make an operating profit of $120,000 for the year?

© What will the operating profit be, assuming that the projected sales for the year are 7,500 units?

Consider requirements (b) and © independent of each other.

22. (TCO 4) Kramer Company has decided to use a predetermined rate to assign factory overhead to production. The following predictions have been made for 2010:

Total factory overhead costs

$180,000

Direct labor hours

50,000 hours

Direct labor costs

$250,000

Machine hours

60,000 hours

23. Compute the predetermined factory overhead rate under three different bases: (1) direct labor hours, (2) direct labor costs, and (3) machine hours.

24. (TCO 1) Best Corporation incurred the following costs:

Beginning direct materials inventory

$ 17,000

Beginning work-in-process inventory

8,000

Beginning finished goods inventory

18,000

Ending direct materials inventory

15,000

Ending work-in-process

13,000

Ending finished goods

24,000

Factory supervisor’s salary

25,000

Depreciation on plant

10,000

Sales

650,000

Selling and administrative expenses

100,000

Plant maintenance

5,000

Plant utilities

9,000

Direct material purchases

185,000

Direct labor

200,000

25. Calculate the following values:

(a)

direct materials used

(b)

cost of goods manufactured

©

cost of goods sold

(d)

net income

26. (TCO 5) The following information relates to a product produced by Bayfield Company:

Direct materials

$50

Direct labor

35

Variable overhead

30

Fixed overhead

40

Unit cost

$155

27.

Fixed selling costs are $1,000,000 per year. Although production capacity is 900,000 units per year, Bayfield expects to produce only 800,000 units next year. The product normally sells for $180 each. A customer has offered to buy 60,000 units for $150 each. Compute the effect on the net income if Bayfield accepts the special order.

All of the following were true with regard to the case Commonwealth v. Pullis EXCEPT

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All of the following were true with regard to the case Commonwealth v. Pullis EXCEPT__________.

• National attention was drawn to the strike at the American Woolen Mills because __________.

• The United Auto Workers is an example of a(n) __________.

• Which of the following was NOT an effect of the Civil War in 1861 to 1865?

• Commonwealth v. Hunt __________.

BIAM 300 Managerial Applications of Business Analytics Activity 5

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BIAM 300 Managerial Applications of Business Analytics Activity 5

In this activity, you will discuss the differences between a relational database and an OLAP cube.

BIAM 300 Managerial Applications of Business Analytics Activity 6

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BIAM 300 Managerial Applications of Business Analytics Activity 7

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BIAM 300 Managerial Applications of Business Analytics Activity 7

Executive Summary

BIAM 300 Managerial Applications of Business Analytics Week 5 Homework Assignment Solution

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BIAM 300 Managerial Applications of Business Analytics Week 5 Homework Assignment

Answer the following essay questions in your own words.

1. What are dimensions and how can you use them? Provide examples.

2. What are metrics and facts? Provide examples.

3. Why have a metadata repository?

4. What does an ETL job do? Provide examples.

5. What is an OLAP cube?

6. What is a data mart?

7. It is often said in data warehouse projects that you should ”think big, start small,and deliver fast.” Why is that?

8. What is SQL and how can you use it?

9. How do businesspeople normally access BI information? What does data qualitymean, and why is it important?

10. What is an ODS, and why have it?

BIAM 300 Managerial Applications of Business Analytics Week 6 Homework Assignment Solution

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BIAM 300 Managerial Applications of Business Analytics Week 6 Homework Assignment Solution

1. Describe the difference between the following pairs and provide examples for each.

2. Discuss how the dimensions of usability and availability can be used to decide which sources of information might be useful. Provide examples to support your case.

3. Discuss the steps an organization should take to ensure that data quality is at an acceptable level. For each step, provide examples of converting bad data to good.

BIAM 300 Managerial Applications of Business Analytics Week 7 Homework Assignment Solution

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BIAM 300 Managerial Applications of Business Analytics Week 7 Homework Assignment Solution

1. Specify the organizational location alternatives, including the advantages and disadvantages of each.

2. Using both maturity analysis and readiness analysis, assess how a business analytics process can be related to other business processes.

3. Describe in your own words how business analytics is likely to be different in the future.

BIS 450 Course Project Week 1 Overview of Business and Web

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BIS 450 Course Project Week 2 Server Side Technology

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BIS 450 Course Project Week 3 Interface and Processing Required

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BIS 450 Course Project Week 4 Database Structure Requirements

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BIS 450 Course Project Week 6 Security and Mobile Devices

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BIS 450 Course Project Week 7 Deployment and Testing

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BIS 450 Course Project Week 8 Final Project

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BIS 450 Course Project Week 8 Final Project

TABLE OF CONTENTS

Overview of Business and Web-Based Solution 3

Server-Side Technology 4

Interface and Processing Required 6

Input, Processing, And Output (IPO) Chart 7

Database Structure Requirements 10

Security and Mobile Devices 12

Deployment and Testing 14

Conclusion 17BUS 372 Web-Based Solutions with Lab Week 1 Quiz Answers

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BUS 372 Web-Based Solutions with Lab Week 1 Quiz Answers

1. All of the following were true with regard to the case Commonwealth v. Pullis EXCEPT__________.

2. National attention was drawn to the strike at the American Woolen Mills because __________.

3. The United Auto Workers is an example of a(n) __________.

4. Which of the following was NOT an effect of the Civil War in 1861 to 1865?

5. Commonwealth v. Hunt __________.

BUS 372 Web-Based Solutions with Lab Week 2 Quiz Answers

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BUS 372 Web-Based Solutions with Lab Week 2 Quiz Answers

1. Electioneering refers to __________.

2. Which of the following is NOT true with regard to labor consultants?

3. Yellow dog contracts __________.

4. Congress amended the Sherman Antitrust Act with the __________

5. The Federal Possession and Control Act did all of the following EXCEPT__________.

BUS 372 Web-Based Solutions with Lab Week 4 Quiz Answers

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BUS 372 Web-Based Solutions with Lab Week 4 Quiz Answers

1. An example of an informal negotiation at a workplace is a(n) __________.

2. The test used by the National Labor Relations Board for determining whether or not the parties are in fact bargaining in good faith is called __________.

3. Before either side comes to the table, four steps should take place. Those four steps include __________.

4. One of the reasons that mediation has become an important tool of alternative dispute resolution is because __________.

5. All of the following statements about grievance arbitration are true EXCEPT __________.

BUS 402 BUS402 Week 1 Discussion 2 Elevator Speech

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