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出自:郑州航空工业管理学院-管理会计学
In deciding whether to add or drop newproducts, services, or departments, managers should emphasize the option that makes the greatest contributionpossible to pay unavoidable costs.
Unavoidablecosts are never relevant in deciding whether to eliminate a product or department.
Unavoidablecosts do not include common costs.
Ascarce resource limits the production or sale of a product or service.
Scarceresources include labor hours.
If the limiting factor is demand (i.e., unit of sales), the more profitableproduct is the one with the higher contribution per unit.
In retail sales, the limiting resource is often floor space.
In ventory turnover is the average number of times a consumer buys a particular productper year.
The financial budgets of a nonmanufacturingcompany include the capital budget, thecash budget, and the budgeted balance sheet.
Budgets are a manager’stool to plan, understand, and control operations.
A capital budget is aperiodic business plan that includes a coordinated set of detailed operatingschedules and financial statements.
An operating budgetis the major part of a master budget that focuses on the income statement andits supporting schedules.
The major drawback ofusing historical results for judging current performance is that inefficienciesmay be concealed in the past performance.
A budget is a qualitative expression of a plan ofaction.
A budget is anexample of an informal business plan.
Budgeting may usenonfinancial terms.
The master budgeting process summarizes the keydecisions regarding all aspects of the company’s value chain.
Cash collections from customers include thecurrent month’s cash sales plus collections on credit sales.
The first step inpreparing the master budget is generally the preparation of the budgeted incomestatement.
Accurate sales forecasting is essential to effectivebudgeting.
Budgeted purchases =beginning inventory + cost of goods sold – desired ending inventory.
Examples of expenses driven by sales volume includerent and insurance.
Depreciation expenseis usually subtracted as an operating expense to calculate budgeted ending cashon hand.
The beginningavailable cash balance equals the beginning cash balance + the minimum cashbalance desired.
If cash availableplus net cash receipts minus disbursements is negative, then borrowing isnecessary.
The working capitalcycle moves from cash to inventory to receivables and back to cash.
Managers want a very large cash balance possible atall times.
The cash budgetbegins with the ending cash balance from the previous period.
Line operatingmanagers usually prepare and use the operating budget.
The operating budgetis a better measure of a company’s overall performance than is the financialbudget.
A sales budget is aprediction of sales under a given set of conditions.
The sales budget isthe responsibility of line management.
Sales forecasts areusually prepared under the direction of the top sales executive.
Tyson Company’s revenues are $300 and investedcapital is $240. Expenses are currently80% of sales. Tyson Company’s currentreturn on investment is: A、25% B、100% C、80% D、None of these answers is correct.
【单选题】 Foreman Company’s revenues are $300 on investedcapital of $240. Expenses are currently84% of sales. If Foreman Company canreduce its expenses to 75% of sales, return on investment will be: A、20% B、31.25% C、93.75% D、None of these answers is correct.
Angelo Company’s revenues are $300 on investedcapital of $240. Expenses are currently85% of sales. If Angelo Company canreduce its invested capital by 20%, return on investment will be: A、75% B、93.75% C、18.75% D、23.44%
【单选题】 Identify which of the followingadjustments to after-tax operating income is used to approximate cash income. A、expensing research and development costs B、using LIFO valuation C、deducting interest payable D、using taxes paid rather than tax expense
Lincoln Company paid $8 million cash for research anddevelopment. EVA capital was computed as$20 million. Lincoln Company cost ofcapital was 15%. To add economic valueto the firm, Lincoln Company must generate revenues less operating costs of atleast: A、$4.2 million B、$9.2 million C、$11 million D、$28 million
【单选题】 Gonzalez Company’s after-tax operating incomewas $882 million. Total assets were$4,900 million and stockholder’s equity was $2,050 million. Gonzalez Company’s cost of capital was10%. Gonzalez Company’s EVA was: A、$392 million B、$597 million C、$667 million D、$187 million
【单选题】 The following information is available for the Soupy Company: Sales $1,000,000 Investedcapital 350,000 ROI 10% The capital turnoverratio is: A、2.8571 B、0.1000 C、0.3500 D、None of these answers is correct.
【单选题】 The followinginformation is available for the Leno Company: Sales $1,000,000 Investedcapital 312,500 ROI 10% The net income is: A、$687,500 B、$312,500 C、$31,250 D、$100,000
【单选题】 The followinginformation is available for the Copeland Company: Sales $1,000,000 Investedcapital 312,500 ROI 10% The return on sales is: A、10.000% B、3.125% C、1.000% D、None of these answers is correct.
The following information is available for the Sting Company: Sales $250,000 Investedcapital 156,250 ROI 10% The capital turnoverratio is: A、1.600 B、0.100 C、0.625 D、None of these answers is correct.
The followinginformation is available for the Bumbling Company: Sales $250,000 Investedcapital 156,250 ROI 10% The net income is: A、$93,750 B、$156,250 C、$15,625 D、$50,000
【单选题】 The followinginformation is available for the Hodge Podge Company: Sales $250,000 Investedcapital 156,250 ROI 10% The return on sales is: A、10.00% B、6.25% C、62.50% D、None of these answers is correct.
【单选题】 ______________ is a measure of incomeor profit divided by the investment required to obtain that income or profit. A、Return on sales B、Capital turnover C、Return on investment D、Residual income
【单选题】 ROI is computed as: A、income percentage of revenue x return on sales B、capital turnover x return on sales C、residual income x capital turnover D、cost of capital x income percentage of revenue
An improvement in eithercapital turnover or return on sales, without changing the other, will alsoimprove the: A、level of sales B、cost of capital C、net book value D、rate of return on invested capital
_______________ is the result of the calculation which divides income by revenue. A、Return on sales B、Residual income C、Capital turnover D、Return on investment
【单选题】 ____________________would not increase return on investment. A、A decrease in inventories B、An increase in sales revenue C、A decrease in expenses D、All of these answers are correct.
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