Tài liệu Khối Ngành Kinh Tế

In general, more sophisticated methods provide more accurate cost estimates than simpler ones. Methods of simplification are Using only one cost driver Assuming cost behavior patterns are linear within the relevant range Assume cost decreases are not “sticky”

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Break-even time Ignores cash flows after break-even point Does not consider strategic, nonfinancial reasons for new product Varies from one business to next, depending on product life cycles and investment requirements.

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Ciudad Juarez factory makes 2 products: mountain bikes and racing bikes. 1,000 mountain bikes and 200 racing bikes will be produced. Direct materials include Frames: $100 per mountain bikes and $200 per racing bike Direct labor: $30 per mountain bike and $60 per racing bike Overhead, allocated by activity costs

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JIT inventory methods attempt to obtain materials just in time for production or sale Reduces/eliminates inventory and carrying costs Leads to immediate correction of defective units Helps expose production problems Relies on high-quality materials, production Charges all costs directly to cost of goods sold

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Sarbanes-Oxley Act Passed in the aftermath of the Enron scandal Includes Making CEOs and CFOs sign and accept responsibility for financial statements Making CEOs and CFOs responsible for the company’s system of internal controls Creating the Public Company Accounting Oversight Board to oversee public auditors

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Asset turnover Shows how efficiently assets are used to generate sales Accounts receivable turnover The more times accounts receivable turn over, the sooner they are collected Days’ sales in receivables A measure of how long it will take to collect receivables

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Long term liabilities and stockholders’ equity Cash paid to reduce debt (or cash proceeds from borrowing) is the difference between the beginning and ending balance of long term debt Use beginning and ending retained earnings plus net income to solve for cash payments for dividends

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An obvious solution is to evaluate managers in terms of ROI Managers won’t be motivated to take on projects with a low return just to increase profits ROI can lead managers to underinvest, that is they may pass up projects that earn a return that is greater than the cost of capital

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A favorable labor efficiency variance means: Labor rates were higher than called for by standards Inexperienced labor was used, causing the rate to be lower than standard More labor was used than called for by standards Less labor was used than called for by standards Answer: d Less labor was used than called for by standards

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Budget committee may review a budget and decide it is inconsistent with company goals This conclusion may lead managers to explore a variety of actions that affect future costs and revenues If managers decide to make changes, they must also revise the budget

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