NAME___________________________ PUID________________________________Section________ Purdue University Krannert School of Management MGMT 201 – Managerial Accounting I Summer 2014 Practice Final Exam--SOLUTION This exam consists of 30 multiple choice questions on 10 pages (including this cover page) for a total of 120 points. Answer all questions. No partial credit is available for multiple choice questions. Be sure to put your answers to the multiple choice questions on your Scantron form. The exam is closed
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Definition and explanation of mixed or semi variable cost: A mixed cost is one that contains both variable and fixed cost elements. Mixed cost is also known as semi variable cost. Examples of mixed costs include electricity and telephone bills. A portion of these expenses are usually consists line rent. Line rent normally is fixed for each month. Variable portion consists units consumed or calls made. The relationship between mixed cost and level of activity can be expressed by the following equation or
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CLMP Manufacturing Plan of activities (5s Principles) a. Rationale: This plan of activities will enable the organization to set goals in attaining and implementing the 5s in the workplace with unified vision‚ shared thoughts and values to be able to be competitive enough in the world of business for we believe that implementing 5s may lead the company to success. b. Objectives: * To introduce 5s to the organization and appreciate its importance; * To keep the workplace clean‚ providing
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all-round development of the students. So it is logical to think that extracurricular activities are the integral part of educational system. Although researchers agree that extracurricular activities do‚ in fact‚ influence academic performance‚ the specific effect that various activities produce is debated. One study‚ conducted by the National Educational Longitudinal Study‚ found that “participation in some activities improves achievement‚ while participation in others diminishes achievement” (Broh
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Futures The impact of low cost carrier on the future of pricing and revenue management Received (in revised form): 12th November 2011 Dieter Westermann Qatar Airways‚ Qatar Airways Tower 2‚ Doha‚ State of Qatar Dieter Westermann holds the position of Senior Vice President RM Strategy and Solutions at Qatar Airways‚ the national carrier of the State of Qatar. He has more than 20 years of experience in revenue management business processes and systems‚ as well as in the area of pricing‚ reservations
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used to perform the measuring and controlling of the project costs. The Project Manager and Project Sponsor will review the following earned value measurements: 1. Schedule Variance (SV) 2. Cost Variance (CV) 3. Schedule Performance Index (SPI) 4. Cost Performance Index (CPI) 5. To Complete Cost Performance Index (TCPI) 6. Estimated Actual Cost at Completion (EAC) Schedule Variance (SV) is a measurement of the schedule performance for a project‚ and is calculated by subtracting the Planned Value
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competitors‚ a firm must decide whether it intends to “perform activities differently” or to “perform different activities”. Cost leadership strategy Tiger airways has chosen the former it exploiting a cott leadership strategy. It has an integrated set of actions taken to produce services with features that are acceptable to customer at the lowest cost relative to that of competitors. Tiger’s costs structure foolows the shirt-haul low-cost model of Ryanair. It targets a broad customer segment
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A process is a series of activities or operations‚ which are linked to perform a specific objective. True False 2. The cost flows for a process-costing system are totally different from those of a job order costing system. True False 3. Process systems are characterized by a larger number of homogeneous products passing through a series of processes. True False 4. The production report is the document that summarizes the manufacturing activity that takes place in a work-in-process
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a transaction cost is a cost incurred in making an economic exchange. A number of different kinds of transaction costs exist. Search and information costs are costs such as those incurred in determining that the required good is available on the market‚ who has the lowest price‚ etc. Bargaining costs are the costs required to come to an acceptable agreement with the other party to the transaction‚ drawing up an appropriate contract‚ etc.. Policing and enforcement costs are the costs of making sure
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College Costs Introduction It’s no secret that financing a college education is getting tougher. College costs have skyrocketed over the past decade or so‚ and there’s no relief in sight. Average tuition at four-year colleges will increase 7 percent this school year‚ double the rate of inflation. Student aid is not increasing fast enough to plug the growing gap between tuition and family finances. In addition‚ there is a growing number of older students entering college today. These students
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