130 cost of goods sold 8 - Study guides, Class notes & Summaries

INTRODUCTION TO MATERIALS MANAGEMENT CHAPTER 1 ANSWERS TO PROBLEMS 1.1 Sales 100% 100% Cost of manufacturing 60% 50% Other costs 30% Profit (percent of Sales) Therefore a 10% reduction in the cost of manufacturing would produce a 100% increase in profit. 1.2 Profit = Sales – (direct costs + overhead) 0.20 = Sales – (0.60 × Sales + 0.30) Sales = 0.5 = 1.25 = 125% 0.4 To increase profits from 10% to 20% takes a 25% increase in sales but only a 10% decrease in costs. Good materials ma...

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) Global GDP surpassed 80,000 USD (billions) in 2015. Answer: True False 2) Global GDP surpassed 100,000 USD (billions) in 2015. Answer: True False 3) According to the IMF, Canada's estimated GDP for 2014 was greater than Mexico's. Answer: True False 4) According to the IMF, Canada's estimated GDP for 2014 was greater than Russia's. Answer: True False 5) According to the IMF, Canada's estimated G...

Chapter 03 Fundamentals of Cost-Volume-Profit Analysis True / False Questions 1. Both total revenues (TR) and total costs (TC) are likely to be affected by changes in the output. True False 2. Cost-volume-profit (CVP) analysis assumes that the production volume equals sales volume so that any changes in unit prices can be ignored. True False 3. The total contribution margin is the unit contribution margin multiplied by the number of units minus the fixed compo...

GOVT 404 Final Exam: real exam questions with answer solution 2024 • Question 1 0 out of 5 points TripleCyl contracts with ManuPow Partners to sell 100 forklift engines at a cost of $2,000 each. TripleCyl agrees to deliver the engines in one installment on April 1. On March 20, TripleCyl delivers 98 engines together with a note stating that the remaining two engines would be delivered the following day. The next day TripleCyl delivers two engines. Is ManuPow Partners entitled to reject the eng...

Chapter 2—Production Possibilities, Opportunity Cost, and Economic Growth MULTIPLE CHOICE 1. 2. Which of the following correctly lists the three fundamental economic questions? a. If to produce? Why to produce? When to produce? b. If to produce? What to produce? How to produce? c. Why to produce? What to produce? How to produce? 3. 4. 5. Three basic decisions must be made by all economies. What are they? a. How much will be produced, when it will be produced, and how much it will c...

Chapter 03 - The Global Marketplace True / False Questions 1. Global GDP surpassed 80,000 USD (billions) in 2015. TRUE 2. Global GDP surpassed 100,000 USD (billions) in 2015. FALSE Difficulty: Moderate Topic: 03-01 Quick Facts The Global Landscape Difficulty: Moderate Topic: 03-01 Quick Facts The Global Landscape 3. According to the IMF, Canada's estimated GDP for 2014 was greater than Mexico's. TRUE Difficulty: Moderate Topic: 03-01 Quick Facts The Global Landscape 4. According to ...

Question 2 of 21 1.0 Points Which stakeholders have the first claim on assets when a organisation enters bankruptcy? • A. Creditors • B. Top management • C. Debtors • D. Shareholders Answer Key:A Question 3 of 21 1.0 Points The long-term financial goal of the firm may be achieved by ... • A. maximising revenue and minimising expenses. • B. minimising the cost of capital and maximising the internal rate of return (IRR). • C. m...

Fundamental Accounting Principles Wild Shaw 20th Edition Test Bank   Fundamental Accounting Principles Wild Shaw 20th Edition Test Bank Chapter 01 Accounting in Business True / False Questions 1. Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities. True False 2. Bookkeeping is the recording of transactions and events and is only ...

ACCT 2401 QUESTIONS AND ANSWERS AVAILABLE Test #1 Chapters 1 & 2 Test Prep (Solutions are at the end) 1. Which of the following is a period cost: a. raw materials costs. b. manufacturing plant maintenance. c. wages for production line workers. d. salary for the vice president of finance. 2. The inventory accounts of a manufacturing firm include: a. raw materials. b. finished goods. c. work in process d. all of the above. 3. The beginning balance of Finished Goods is $50,000, the...

Chapter 3—Supply and Demand: Theory MULTIPLE CHOICE 1. The law of demand states that price and quantity demanded are a. directly related, ceteris paribus. b. inversely related, ceteris paribus. c. independent. d. positively related, ceteris paribus. ANS: B PTS: 1 DIF: Easy NAT: Analytic LOC: Supplyanddemand 2. Which of the following illustrates the law of demand? a. Jorge buys fewer pencils at $2 per pencil than at $1 per pencil, ceteris paribus. b. Chen buys more ice cream at $4 per...