FENOMENE 222205 Fol gall po BESTANDEN Alexa is trying to decide whether to fly or drive to California. If she drives, she will forego a day's pay because she is an hourly worker without vacation pay. Which of the terms below would be used to best describe this cost? O Future cost O Differential cost O Sunk cost O Opportunity cost

FENOMENE 222205 Fol gall po BESTANDEN Alexa is trying to decide whether to fly or drive to California. If she drives, she will forego a day's pay because she is an hourly worker without vacation pay. Which of the terms below would be used to best describe this cost? O Future cost O Differential cost O Sunk cost O Opportunity cost

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 5PB: Blake Cohen Painting Service specializes in small paint jobs. His normal charge is $350/day plus...

See similar textbooks

Similar questions

You are trying to decide whether to take a job after you graduate or go onto graduate school. Consider the following questions as you make your decision. A. Which of these costs, for the most part, would be relevant (R), and which would be irrelevant (IR)? Cost of your Undergraduate education Salary with an undergraduate degree Salary with both an undergraduate degree and a graduate degree Rent Car Insurance Graduate school tuition and fees Food costs Moving expenses B. Which of these costs could have a differential amount that is relevant/irrelevant, depending upon the location and or policies of your new job?
Relevant Cost Irrelevant Cost or Benefit Opportunity Cost Sunk Cost or Benefit $40,000 salary from Shelton Anticipated $48,000 salary with an accounting degree Tuition and books for years 1-3 of college Cost to relocate to Seattle Tuition and books for remaining two semesters $19,000 from your part-time job, which you plan to keep until you graduate Cost to rent an apartment in Seattle (assume you are currently living at home with your parents) Food and entertainment expenses, which are expected to be the same in Seattle as where you currently live Increased promotional opportunities that will come from having a college degree
Which one of the following is an example of a committed cost? O a. None of the given answers O b. The cost of annual end of year celebration O c. The cost of employee training program O d. The salary of the marketing manager O e. The salary of the chief operating officer 6. AR tv MacBook Air DII F8 F6 F7 F5 & 8.
Would the cost of full-time hourly employees behave mainly as a variable cost or a fixed cost? Does your answer change if you consider part-time hourly employees rather than full-time employees? Explain.
How do you calcuate the Lower-of-Cost-or-Market ? Problem : If cost is $13 Replacement cost is $16 Ceiling of $20 Floor is $15. What is the LCM?
You are the owner of your own company. You want to employ new workers and also buy a delivery van. Finally, you decide to employ new workers instead of buying a deliver van. Which economic concept is implicit in the above statement? Economic cost Accounting cost Opportunity cost Marginal cost
34) What is the original lifecycle cost per unit and is the product worth making on that basis? a. RO 28 per unit; The product is not worth making b. RO 29 per unit; The product is not worth making c. RO 24 per unit; The product is worth making d. RO 23 per unit; The product is worth making
Case Study 2: Success Electronics LLC is planning to introduce a low cost smart phone with attractive features. The market research information suggests that the product should sell 2000 units at RO 30 per unit. The company seeks to make a mark-up of 20% product cost. It is estimated that the lifetime costs of the product will be as follows: Design and development costs RO 5000 Manufacturing costs RO 22 per unit End of life costs RO 7000 Based on the above case, answer the following THREE questions: What is target cost per unit to achieve the desired profit? O a. RO 25 per unit O b. RO 22 per unit Oc. RO 20 per unit O d. RO 24 per unit
546 Page of 52 C Chapter 10 Short-Term Decision Making 3. LO 10.1 Felipe's Restaurant and Pie Shop needs help defining the costs for his business. He also wants to know which costs are relevant or irrelevant to his decision. Identify each cost as relevant or irrelevant. Then identify the type of cost (sunk, fixed, variable, or opportunity). Rent Cost Relevant or Irrelevant? Sunk, Fixed, Variable, or Opportunity? Baker wages Felipe's culinary school tuition Berries for pies Painting dining area last year Felipe's decision not to attend graduate school 4. LO 10.2 What factors must any company consider before accepting a special-order contract? 5. LO 10.2 What are some of the qualitative issues that a special order can create? - ZOOM +
The labor supply curve a. may slope either upward or downward, depending upon the real wage b. slopes downward to illustrate that a decrease in the real wage decreases the number of individuals willing to work c. slopes upward to illustrate that more people will want to work as the real wage increases d. slopes upward to illustrate that changes in the real wage are directly proportional to changes in the nominal wage e. slopes downward to illustrate that the availability of workers is directly proportional to the real wage
Case Study 2: Success Electronics LLC is planning to introduce a low cost smart phone with attractive features. The market research information suggests that the product should sell 2000 units at RO 30 per unit. The company seeks to make a mark-up of 20% product cost. It is estimated that the lifetime costs of the product will be as follows: Design and development costs RO 5000 Manufacturing costs RO 22 per unit End of life costs RO 7000 Based on the above case, answer the following THREE questions: What is target cost per unit to achieve the desired profit? O a. RO 24 per unit O b. RO 20 per unit O. RO 25 per unit O d. RO 22 per unit
Which one is fixed cost اخترأحد الخیارات a. Both A & B O b. Rent,salaries, Insurance O c. Only B O d. Direct material,Direct wages,normal O spoilage e. Only A O