Business Questions - 1058 Words

PRACTICE QUESTIONS SESSION 3 1. Which of the following statements is true? A. Service firms have little need for determining the cost of their services. B. The concept of product costing is relevant only for manufacturing firms. C. The cost of year-end inventory appears on the balance sheet as an expense. D. Service companies use cost information for planning and control purposes. E. Mining and petroleum companies have no inventoriable costs. 2. Which of the following manufacturers would most likely use job-order costing? A. Chemical manufacturers. B. Microchip processors. C. Custom-furniture manufacturers. D. Gasoline refiners. E. Fertilizer manufacturers. 3. A custom-home builder would likely utilize: A. job-order costing. B.†¦show more content†¦On the basis of this information, the 20x1 predetermined overhead rate was: A. $0.04 per machine hour. B. $0.05 per machine hour. C. $20 per machine hour. D. $21 per machine hour. E. $25 per machine hour. 13. Dixie Company, which applies overhead at the rate of 190% of direct material cost, began work on job no. 101 during June. The job was completed in July and sold during August, having accumulated direct material and labor charges of $27,000 and $15,000, respectively. On the basis of this information, the total overhead applied to job no. 101 amounted to: A. $0. B. $28,500. C. $51,300. D. $70,500. E. $79,800. 14. Huxtable charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $480,000 Actual manufacturing overhead: $440,000 Budgeted machine hours: 20,000 Actual machine hours: 16,000 Overhead applied to production totaled: A. $352,000. B. $384,000. C. $550,000. D. $600,000. E. some other amount. 15. Simone uses a predetermined overhead application rate of $8 per direct labor hour. A review of the companys accounting records for the year just ended discovered the following: Underapplied manufacturing overhead: $7,200 Actual manufacturing overhead: $392,000 Budgeted labor hours: 50,000 Simones actual labor hours worked totaled: A. 48,100. B. 49,100. C. 49,900. D. 50,900.Show MoreRelatedBusiness: Interview and Questions1073 Words   |  4 Pagespertinent questions that are necessary to fill in the needs of an organization. Fact of the matter is, structuring an effective and efficient interview process is not really basic, for it entails ethical, legal and moral considerations with each question asked. Since we would cover up ten questions in this elective, the two criteria’s that I am going to include as a ranking score would be a confidence rating scale in which to scale the level of confidence the way each candidate answers the question andRead MorePast Exams Questions for Business Strategy2162 Words   |  9 Pageschoice questions. You will be required to answer 100- 120 multiple choice questions in 3 hours and enter your answers using the Scantron sheet that had been provided to you. You will get 1 point for every correct answer. You will lose 0.25 points for every incorrect answer or for making multiple answers to a question. You will not get or lose any points for leaving a question blank. For example, a student answered 100 out of 120 questions. Of these s/he got 84 questions right, 16 questions wrongRead MoreQuestion Questions On Business Ethics1305 Words   |  6 PagesQuestion 1- Business Ethics Issue- A Company has developed a new drug which contains small side effects. They have conducted many experiments on this drug and formed a report to keep confidential. The board of directors results that they will continue to market the drug and keep the information within the company, as it will increase profits significantly. Is this ethical behaviour for the company? Rule- Common law tells us that as the directors of the company it is in their duty to act in goodRead MoreQuestions On The World Of International Business3836 Words   |  16 Pagescritical questions in the world of international business. In the business world companies must understand how to answer these critical questions. The first of these questions is why are many governments in today’s world liberalizing cross-border movements of goods, services, and resources? Answering this question isn’t just a one word answer; it requires a breakdown of how governments go to market along with a host of other things. In today’s global market international business is even moreRead MoreQuestions On The Business Intelligence1618 Words   |  7 Pages1. Define and explain Terminologies? Business Intelligence: In my opinion the Business Intelligence means the procedure of taking substantial and also mixing of Knowledge, Data analysis, Technology that which may runs business opinions and views to reach their requirements that which leads to get a solution that which is Enterprise’s Growth and success IT Agility: My opinion IT Agility is a type of Methodology that suits dynamically and are changing their user eligibilities into their solutionsRead MoreQuestions On Start An E Commerce Business1161 Words   |  5 PagesWhen considering opening a business there is one question that is newly coming up. The question is â€Å"Have you thought about starting an E-commerce business?†. Anyone can look back on how technology has changed in the last, let’s say, ten years there have been some major advancements. There are watches that tell you about your own body functions, laptops that do more than ever expected, and phones that have more functions than Inspector Gadget, to name just a few. It is not a far-fetched idea for someoneRead MoreQuestions On Preparing Business Documents1763 Words   |  8 Pagesprepare business documents 1.1) There are many different types of documents that may be produced in a business environment. These include: fax documents, business cards, memo, agendas, minutes, spreadsheets, analysis charts, data sheets, letters, slide shows and many more. They all have different purposes and uses; Business cards: These are used to give the customer information on how to contact the company. It can be small cards. Fax Document: Another type of document used in business is a FaxRead MoreQuestions On The Environment For My Image Consulting Business1717 Words   |  7 PagesExercise YOUR TASK: †¢ Read the NewMindsets resource - â€Å"Adopt the perspectives of key stakeholders† – on the ClevrU platform. †¢ Complete the following questions. Important Note: the focus of the exercise is idea you have for starting a new business – do not use the â€Å"health food store† idea in the NMS example! Find a creative idea for a business YOU want to start, and then see what creative ideas you can learn by doing the stakeholder exercise. †¢ Post the completed work on Moodle by 10pm Sep 22ndRead MoreQuestions On Business Practices Of Ikea Essay3604 Words   |  15 Pages â€Æ' Table of Contents Introduction 1 1 Responsible Business Practices of IKEA 1 1.1 Realization of Responsible Business Practices 1 1.2 Code of Conduct 2 1.3 Responsible Practices 2 1.3.1 Alternative to Diesel 2 1.3.2 Environmental-Friendly Products 3 1.3.3 Management of Forest 3 1.3.4 IKEA’s Social Policies 4 1.3.5 Partnership between UNICEF and social Initiative 4 1.4 Negative Practice 5 2 Ranking of the Most Responsible Practices 5 2.1 Ranked as One 5 2.1.1 Supportive Ethical Theory 6 2.2 RankedRead MoreQuestions On Business Ethics And Ethics2226 Words   |  9 PagesIntroduction to Business Ethics What Is Ethics? To understand business ethics one must first understand that there is no general definition used to define this ethics related topic. Ethics related topics usually include terms such as morals, principles, ethics and values, which are, in most cases, used interchangeably. However, Asgary and Mitschow (2002) defines ethics as the study of appropriate policies and practices regarding possible controversial issues while offering recommendations for