Objective Type Costing Questions

Objective Type Costing Questions 

1. Which one of the following does not appear on the  balance sheet of a manufacturing company?

  • Raw materials inventory
  • Finished goods inventory
  • Work in process inventory
  • Cost of goods manufacture

2. Cost of goods manufactured is calculated as follows:

  • Beginning WIP + direct materials used + direct labor + manufacturing overhead + ending WIP.
  • Direct materials used + direct labor + manufacturing overhead – beginning WIP + ending WIP.
  • Beginning WIP + direct materials used + direct labor + manufacturing overhead – ending WIP.
  • Direct materials used + direct labor + manufacturing overhead – ending WIP – beginning WIP.

3. Which one of the following is an example of a period cost?

  • A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer
  • Workers’ compensation insurance on factory workers’ wages allocated to the factory
  • A box cost associated with computers
  • A manager’s salary for work that is done in the corporate head office

Summary of MediSys Corp.: The IntensCare Product Development Team Summary

Write a one page summary of  HBR Brief case study ‘MediSys Corp.: The IntensCare Product Development Team’.

Please, also include the key points of this case study.

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Analysis of Financial Statements of Southwest Airlines Co.

Analysis of Financial Statements of Southwest Airlines Co. in $19 Only (Instant Download)

1) What 3 items of important information does the Southwest income statement reveal about the financial performance of the company over the last three years?
2) What 3 items of important information does the Southwest balance sheet reveal about the financial position of the company over the last two years?
3) Can you identify the major sources of funding for operating costs and capital expenditures used by Southwest Airlines from the information presented in the company’s annual report? If not, how could you get this information?
4) Who is responsible for: a) the issuance, and b) the content of the Southwest financial statements?
5) What assurance, if any, is there that the Southwest financial statements are in compliance with GAAP, and are free of material misstatements?
6) Of what use, if any, are the notes to the financial statements? Quantitative analysis tied to the financial statement concepts will add value to your work.
Sample Answer:
Question 2. What 3 items of important information does the Southwest balance sheet reveal about the financial position of the company over the last two years?

Answer:

Balance is another important statement of final account. It is also known as a report card of the corporation. It shows the position of the company at any particular date. The most three important information from the Southwest income statement are given below:

Improvement in current assets to current liabilities ratio

The company is able to improve its current ratio in last three years. In the year 2006 the current ratio was hovering around below one, however, it increased and touched 1.03 at the end of 2008.

Rising Debt

Debt to equity ratio increased from 0.26 in 2006 to 0.79 at the end of 2008. Debt to assets ratio also increased from 0.13 in 2006 to 0.27 at the end of 2008. In reflecting that in assets financing debt part in increasing faster than equity part.

Decrease in Total Equity

Total equity of the firm was decreased substantially in the year 2008 when it compares to 2007. In 2007 total equity was $6941 million, which fell to $4953 million by the end of 2008.

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Net Present Value (NPV) Calculations Using Each Model

 Net Present Value (NPV) Calculations Using Each Model

Need the Net Present Value (NPV) calculations each model using the following techniques and ignoring income Net Present Value (NPV) Calculations Using Each Modeltaxes: Dr. David Dunn, head of the radiology department at Grant Clinic Inc., is adding a new piece of diagnostic equipment to the department. Two similar models are offered by two different vendors, and both models would serve the needs of the clinic. Both also have an estimated useful life of five years, with no salvage value at the end of five years. The only difference between the two models is the cost and estimated annual labor savings, as shown below: Model A Model B Cost, including installation $120,000 $110,000 Estimated annual labor savings $40,000 $32,000 The straight-line method of depreciation is used on the books. Senior management of the clinic has established a target rate of return of 15% for all equipment with a useful life of over two years and a desired payback period of three years.

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Objective Type Questions

a) A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $120,000. The number of units the company must sell to break even is

  1. 60,000 units.
  2. 24,000 units.
  3. 240,000 units.
  4. 40,000 units.

b) A company has total fixed costs of $120,000 and a contribution margin ratio of 20%. The total sales necessary to break even are

  1. $480,000.
  2. $600,000.
  3. $150,000.
  4. $144,000.

c) At the break-even point of 2,500 units, variable costs are $55,000, and fixed costs are $32,000. How much is the selling price per unit?

  1. $34.80
  2. $9.20
  3. $12.80
  4. $22.00

Mini Case: Will Leasing Fly at Continental?

Continental Airlines

CFM 3 Ch 21 Minicase Will Leasing Fly at Continental? in $28 only

  1. Calculate the net advantage to leasing, using the expected residual value and assuming Continental can use all the tax benefits of ownership with a tax rate of 40% and straight line depreciation to the expected residual value. Assume that Continental issues 80% secured debt and 20% unsecured debt to finance a purchase.

a) Calculate rt–the project cost of capital.

b) Calculate the expected lease residual value per aircraft.

c) Calculate the quarterly CFAT per aircraft under the leasing option.

      • Hint: It should be the same each quarter hroughout the term of the lease.
      • The lease payment is tax deductible.
      • Under the leasing option Continental forgoes the depreciation tax deduction.

      d) Calculate the NAL.

          • Assume quarterly compounding to match the lease payments.
          • Continental’s required return on the asset—r, is given.
          • Assume no incremental difference in operating expenses between the purchasing and leasing options.
          • Assume that the lessor claims the ITC.

          2.  Calculate the net advantage to leasing, assuming Continental cannot use any of the tax benefits of ownership and the residual value is (i) the expected residual value, (ii) $50 million, and (iii) $10 million

          Mini Case: The Power to Cool Off in Florida (Indiantown Cogeneration Project)

          Tabebuia caraiba. Jensen Beach, Martin County,...

          CFM3 Ch 10 Minicase The Power to Cool Off in Florida             in $19 only

          Objective:
          This case demonstrates the use of NPV, IRR, and financial ratios for evaluating a capital budgeting project.
          Case Discussion:
          The Indiantown Cogeneration Project involved the construction and operation of a coal-fired plant in Martin County, Florida, that produces electricity and steam. The capital cost (including interest during construction) was approximately $770 million. Since completion, it has an electric generating capacity of 330 megawatts (net) and a steam capacity of 175,000 pounds per hour. The project sells the electric power to Florida Power & Light Company (FPL) under a 30-year contract and the steam to Caulkins Indiantown Citrus Company under a 15-year contract.

          FPL’s electricity payments have two parts: one for electric capacity and the other for the electric energy that it receives.

          The project’s financing consisted of $630 million of 30-year 9% APR interest rate debt and $140 million of equity. The debt requires equal annual sinking fund payments of $31.5 million beginning in year 11. Depreciation is straight line to zero over 20 years. The tax rate is 40%. Other information about the project includes:

          STRATEGIC INVESTMENT DECISIONS: Schweser Satellites Inc.

          Cost-Volume-Profit diagram, decomposing Total ...

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          STRATEGIC INVESTMENT DECISIONS: Schweser Satellites Inc.

          Schweser Satellites Inc. Produces satellite earth stations that sell for $100,000 each. The firm’s fixed cost, F, are $2 million; 50 earth stations are produced and sold each year; profits total $500,000; and the firms assets (all equity financed) are $5million. The firm estimates that it can change its production process, adding $4million to investment and $500,000 to fixed operating costs. This change will (1) reduce variable costs per unit by $10,000 and (2) increase output by 20 units, but (3) sales price on all units will have to be lowered to $95,000 to permit sales of the additional output. The firm has tax loss carry forwards that cause its tax rate to be zero, its cost equity is 15 percent, and it uses no debt.

          1. Should the firm make the change?
          2. Would the firms operating leverage increase or decrease if it made the change? What about its breakeven point?
          3. Would the new situation expose the firm to more or less business risk than the old one?

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          Mini Case: Getting Off the Ground at Boeing

          CFM3 Ch 09 Mini Case:  Getting Off the Ground at Boeing in $9 only

          Objective:

          This case asks the student to calculate the incremental cash flows and use the NPV and IRR methods to evaluate Boeing’s investment project to build a new plane. This project, because of its size and importance to Boeing, was potentially a “make-or-break” investment for the firm. It was therefore critical to Boeing to “get it right” when it performed the capital budgeting analysis.

          Case Discussion:
          By the time Boeing announced the newest addition to its fleet, much of the preliminary work was already computed. The new plane was an enormous undertaking. Research and development, begun two and a half years earlier, would cost between $4 billion and $5 billion. Production facilities and personnel training would require an additional investment of $2.0 billion, and $1.7 billion in working capital would be required. The exhibit included in the case furnishes profit, depreciation, and capital expenditure projections for the project.

          Regression, Beta, Standard Dev, Correlation and other Calculation for S&P500

          Dow Jones Industrial Average (DJIA) vs. TEPIX ...

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          The assignment will be collected at the beginning of final exam. You should turn in the Excel
          workbook for this assignment with your report.
          1. Use http://finance.yahoo.com to obtain daily closing prices for your company. Use Excel to
          calculate daily returns for the period January 1, 2010 – December 31, 2010. Calculate,
          • Average daily return,
          • Standard deviation of returns.
          Repeat the analysis for the Dow Jones Industrial Average (DJIA). Ticker is ^DJI.
          Your report should contain,
          • Average daily return for your stock, yourstock R
          • Standard deviation of daily returns, yourstock σ
          • Average daily return for DJIA, DJIA R
          • Standard deviation of daily returns on the DJIA, DJIA σ .

          Alpha, Beta and Fitted Line for Colgate-Palmolive (CL)

          History of S&P 500 from Jan 5, 1950 - Mar 30, ...

          Latest Work (2014 and 2016) in $11 only (Instant Download)

          Case Study on page 447-448 within the Ross textbook

          1.   Go to finance.yahoo.com and download the ending monthly stock prices for Colgate-Palmolive for the last 60 months. Use the adjusted closing price, which adjusts for dividend payments and stock splits. Next, download the ending value of the S&P 500 index over the same period. For the historical risk-free rate, go to the St. Louis Federal Reserve Web site  (www.stlouisfed.org) and find the three-month Treasury bill secondary market rate. Download this file. What are the monthly returns, average monthly returns, and standard deviations for

          Colgate-Palmolive stock, the three-month Treasury bill. and the S&P 500 tbr this period?

          2.   Beta is often estimated by linear regression. A model often used is called the market model, which is:

          Ratio Analysis and Comparison for Exxon Mobil Corporation and Royal Dutch Shell plc

          Ratio Analysis and Comparison for Exxon Mobil Corporation and Royal Dutch Shell plc in $15 Only
          1) Need to choose two firms within the same industryRatio Analysis and Comparison

           

          2) Go to each firm’s Web site, and then access and download their annual reports (financial statements).

          3) Using the accounting data from the firms’ financial statements, calculate all ratios for each firm (liquidity ratios, activity ratios, profitability ratios, leverage ratios, and coverage ratio)

          Liquidity Ratios

          Current Ratio = Current Assets/Current Liabilities

          Quick Ratio = Current Assets – Inventory/Current Liabilities

          Review of Financial Research Report

          Review of Financial Research Report

          This assignment is an analysis of a US publicly-traded company; its common stock could be a prospective investment. The report is due in Week 10, in needs to be at least 5 pages, and it needs to cover the following topics:

          • Company Overview. Conduct research and describe the company, its operations, locations, markets, and lines of business.

          Collect financial statements for the past five years, fiscal or calendar.

          • Ratio analysis. Perform trend and ratio analysis on current and fixed assets, current and long term liabilities, owner’s equity, sales revenues, EBIT, net income, and earnings per share. Project these trends for three years. Discuss what changed and why.
          • Stock price analysis. Research the company’s common stock price for the past five years. Research the Standard & Poor’s Stock Market Index (S&P 500) for the past five years. Chart the price movement in the company’s common stock against the S&P price movement. State and support your opinion on the company’s common stock as an investment opportunity by discussing what changed and why.
          • Include income statement; Include Common Size Statement and divide every item on balance sheet by total sales; show sales in percentages; identify current ratio.
          • References. Use at least five references and follow APA format when preparing the report.

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          Objective Type Business Questions

          Loan payment schedule of a 1-year, fixed-size ...

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          Objective Type Business Questions

          1. The amount of money borrowed or invested is called the maturity value.
          True
          False

          2. When solving a simple interest problem, the rate should be written as a decimal number.
          True
          False

          3. The interest paid on a $10,000.00 loan for 2 years at 13.5% interest is $1,250.00.
          True
          False

          4. The formula to find the rate is interest divided by (principal times time).
          True
          False

          5. 8% for 45 days is equal to 0.01.
          True
          False

          Financial Management Questions

          You have been giving the financial statements asked to analyze the financial performance of your division. Other managers have suggested you use financial ratios in your analysis.

          1. what are financial ratios?

          2. which ratios might you use in your analysis?

          3. List them and explain what information they provide.

          4. How would you use them to make managerial decisions?

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          Annuities and Sinking Funds Related Questions

           Annuities and Sinking Funds Related Questions for $4 OnlyAnnuities and Sinking Funds Related Questions

          1. $111,834 is the amount of an ordinary ammunity of $6,000 for 4 years at 8% compounded quarterly.
          True
          False

          2. The monthly payment of rent is an example of a renter’s annuity.
          True
          False

          3. A contingent annuity has a specific number of payment periods. (Points: 2)
          True
          False

          4. An annuity with payments made at the end of each period is called an ordinary annuity.
          True
          False

          5. With an annuity due no interest is paid in the first period.
          True
          False

          6. The amount of an $8,000.00, 10%, 5 year ordinary annuity compounded semiannually is $100,624.
          True
          False

          7. The amount of interest on an ordinary annuity of $11,600.00 for 5 years at 8% compounded semiannually is $32,269.00.
          True
          False

          8. The maturity value of a transaction is equal to the principal plus the rate.
          True
          False

          9. The deposits or payments are made at the end of the period in ordinary annuities.
          True
          False

          10. John owns five health food stores in the Columbia area, and they are realizing a good profit.  John decides to invest a portion of the profits in an annuity offered by Penn Life Insurance.  Penn Life will guarantee John 8% interest compounded quarterly for the first 5 years, as long as he deposits $10,000.00 every quarter of the term of the guaranteed rate.  Assuming John fulfills the obligations of the investment, what will be the value of the investment at the end of the 5 year term?
          $261,832.74
          $245,446.58
          $242,970.00
          $255,446.40
          none of the above

          11. The sum of the payments of an annuity plus the interest is called the:
          economic sum
          amount of the annuity
          financial total
          payoff amount
          none of the above

          12. An annuity without a specific number of payment periods is termed a(n):
          non-standard annuity
          annual annuity
          annuity certain
          contingent annuity
          none of the above

          13. Nancy plays drums in a dance band on weekends in addition to her full-time job at the local junior college.  Nancy decided on her 35th birthday to establish her own retirement savings account by investing $2,400.00 of her weekend earnings every six months into an ordinary annuity paying 12% interest compounded semiannually.  If Nancy makes these regular deposits until her 65th birthday, how much will this retirement account be worth?
          $1,297,503.10
          $1,281,903.10
          $1,297,503.01
          $1,279,507.20
          none of the above

          14. Derek established his own retirement account ten years ago.  He has discovered that he can obtain a better rate for the next 10 years at 12% interest compounded semiannually.  Consequently, Derek established a new ordinary annuity account (beginning amount $0.00) and he will contribute $7,000.00 semiannually into the account for the next 10 years.  What will be the value of this account at the end of the 10 year period?
          $244,707.61
          $83,652.59
          $264,501.86
          $257,502.00
          none of the above

          15. The amount of interest on an ordinary annuity of $11,600.00 for 5 years at 8% compounded semiannually is:
          $139,269.60
          $23,296.60
          $116,000.00
          $23,269.60
          None of the above

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          Finance Questions

          Objective Type Questions:

          1.  Which of the following measures an organization’s liquidity?

          a.  acid test ratio

          b.  debt ratio

          c. return on equity

          d.  times interest earned

          e.  return on assets

          2. Which of the following is a method by which securities are distributed to final investors?

          a. negotiated purpose

          b. commission or best effort basis

          c. direct sale

          d. competitive bid purchase

          e. all of the above

          3. What is a cash budget?

          a. detailed plan of future cash flows

          b.  a budget that shows only what cash comes in

          c. a historical look at cash flows

          d. a report that analyzes the cash account

          e. a report that analyzes accounts receivable

          Answer available.

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          Analyzing Statements of Cash Flows

          Choose five companies from different industries and locate their statement of cash flow for the most recent year.

          (a)    Create a table to compare the dollars provided or used by operating, investing, and financing activities, as well as the overall increase or decrease in cash.

          (b)   Create a second table for each company comparing this same information for each of the three years presented in that company’s statement of cash floes. Include an additional column that looks at the combined cash flows for all three years.

          (c)    Write a short analysis of the information gathered. Your discussion should address, among other things, whether cash flow from operating activities is large enough to cover investing and financing activates, and it not, how the company is financing its activities. Discuss differences and similarities between the companies you have chosen.

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