Barberry, Inc. manufactures a product called Fruta. The company uses a standard

Basic Variance Analysis

Barberry, Inc. manufactures a product called Fruta. The company uses a standard cost system and has established the following standards for one unit of Fruta:

                                                               

                                                                             Standard                  Standard                     Standard

                                                                             Quality                     Price or Rate              Cost

Direct Materials                                                1.5 pounds              $6.00 per pound        $9.00               

Direct Labor                                                       0.6 hours                 $12.00 per hour           7.20

Variable manufacturing overhead                 0.6 hours                 $2.50 per hour             1.50

                                                                                                                                                      $17.70

During June, the company recorded this activity related to production of Fruta:

a. The company produced 3,000 units during June.

b. A total of 8,000 pounds of material were purchased at a cost of $46,000.

c. There was no beginning inventory of materials; however, at the end of the month, 2,000 pounds of material remained in ending inventory.

d. The company employs 10 persons to work on the production of Fruta. During June, they worked an average of 16 hours at an average rate of $12.50 per hour.

e. Variable manufacturing overhead is assigned to Fruta on the basis of direct labor-hours. Variable manufacturing overhead costs during June totaled $3,600.


The company’s management is anxious to determine the efficiency of Fruta production activities.

Required:

1. For direct materials:

a. Compute the price and quantity variances.

b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract? Explain.

2. For labor employed in the production of Fruta:

a. Compute the rate and efficiency variances.

b. In the past, the 10 persons employed in the production of Fruta consisted of 4 senior workers and 6 assistants. During June, the company experimented with 5 senior workers and 5 assistants. Would you recommend that the new labor mix be continued? Explain.

3. Compute the variable overhead rate and efficiency variances. What relation can you see between this efficiency variance and the labor efficiency variance?

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Devry BUSN 115 Week 6 Quiz (A+ Guaranteed)

Devry BUSN 115 Week 6 Quiz

Question 1. (TCO 5) A company whose structure, policies, and capabilities allow employees to respond quickly to customer needs and changes in the business environment is termed as a(n) _____.

agile organization
hyperspecialized organization
formal organization
umbrella organization
mechanistic organization

Question 2. (TCO 5) Which of the following chain-of-command systems was developed to address the need to combine specialization with management control?

Line-and-staff organization
Agile organization
Formal organization
Informal organization

Question 3. (TCO 5) _____ is defined as a pathway for the flow of authority from one management level to the next.

Span of control
Departmentalization
Network structure
Chain of command

Question 4. (TCO 5) Grouping departments according to similarities in product, process, customer, or geography is called _____.

virtual structure
matrix structure
functional structure
divisional structure

5. (TCO 5) Kelly, who had recently joined an organization, participates in all corporate events because she wants to be accepted as a friend by her coworkers. According to David McClelland’s three-needs theory, this desire is known as _____.

need for achievement
need for self-esteem
need for affiliation
need for security

Question 6. (TCO 5) Justin M. Brown, the operations manager at Vernon Manufacturing Company, formulated a strategy to motivate the firm’s employees. Justin addressed employees’ dissatisfaction by increasing their salary and incentives; he employed several industrial counselors to help employees deal with work-related stress; and improved the health insurance plan provided to employees. He also motivated employees by providing greater opportunity for advancement, recognizing employees who perform well and giving employees greater responsibility to foster a sense of achievement in them. Justin’s measures are based on which of the following approaches?

Theory X
Theory Y
Herzberg’s two-factor theory
Scientific management

Question 7. (TCO 5) _____ connects an employee’s efforts to the outcome he or she thinks will result from those efforts.

Herzberg’s two-factor theory
David McClelland’s three needs theory
Expectancy theory
Equity theory

Question 8. (TCO 5) _____ suggests that employee satisfaction depends on the perceived ratio of inputs to outputs.

Herzberg’s two-factor theory
David McClelland’s three-needs theory
Expectancy theory
Equity theory

Question 9. (TCO 5) Which of the following statements is true about management by objectives?

It has not been validated by experimental research.
It reduces employee involvement in goal setting and decision making.
It reduces employee stress by removing specific goals and targets.
It ensures that employees’ activities are directly linked to achieving the organization’s long-term goals.

Question 10. (TCO 5) K.M. Retailers, an international consumer products retail chain, gives preference to women and minority-owned suppliers and subcontractors. The firm hires a large number of employees from ethnic minorities and the human resource department keeps the interests of these groups in mind while framing company policies. In this example, K.M. Retailers uses which of the following strategies?

Ethnocentric policies
Decentralization
Deregulation
Diversity initiatives

Question 11. (TCO 5) Quality of hire measures _____.

the level of productivity of employees in the probationary period
how closely incoming employees meet the company’s needs
the percentage of minority groups in a firm’s workforce
the percentage of the workforce that leaves every year

Question 12. (TCO 5) The sequence of activities that takes the longest time from start to finish in a PERT diagram is called the _____ path

lagging
minor
critical
buffered

Question 13. (TCO 5) Polar Refrigerator Company reduces its inventory-carrying costs by having their vendors deliver materials right before they are needed in the production process. This is an example of _____ inventory management.

PERT
JIT
buffered
economic order based

Question 14. (TCO 5) _____ refers to the creation of identical goods or services in large quantities

Batch-of-one production
Mass production
Customized production
Mass personalization

Question 15. (TCO 5) _____ is a comprehensive approach of companywide policies, practices, and procedures to ensure that every product meets quality standards.

Quality assurance
Quality control
Quality directive
Corrective management

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Devry BIS311 Week 1 Quiz (A+ Guaranteed)

Devry BIS311 Week 1 Quiz

Question 1. 1. (TCO 1) A(n) _____ is a container that stores the projects and files for an entire application. (Points : 1)

window
solution
interface
package

Question 2. 2. (TCO 3) The programming process begins with a meeting between the programmer and the client. Which of the following activities is the last activity in the programming process? (Points : 1)

Build the user interface.
Code the application.
Test and debug.
Assemble the documentation.

Question 3. 3. (TCO 1) All the objects in an object-oriented program are created (instantiated) from a _____. (Points : 1)

project
form
class
property

Question 4. 4. (TCO 3) At design time, the programmer can change the form’s background color by changing the form’s _____ property. (Points : 1)

BackGround
Color
BackColor
ForeColor

Question 5. 5. (TCO 1) When you click the ellipsis (…) button in the Settings box of the Font property, _____. (Points : 1)

a list of font styles appears
a color palette appears
a dialog box opens
the attribute is removed

Question 6. 6. (TCO 3) The character used to create an access key by inserting it into a text property is _____. (Points : 1)

~
^
&
+

Question 7. 7. (TCO 1) The Toolbox window _____. (Points : 1)

displays the names of the projects and files included in a solution
displays data connections and servers
displays the tools you use when creating your application’s interface
displays the classes, methods, and properties included in a solution

Question 8. 8. (TCO 3) In Windows applications, pressing the _____ and Tab keys simultaneously moves the focus backwards. (Points : 1)

Shift
Ctrl
Alt
Ctrl + Shift

Question 9. 9. (TCO 1) A label’s _____ property determines the value that appears inside the label on a form. (Points : 1)

Caption
Name
Text
Values

Question 10. 10. (TCO 3) Short, English-like phrases that are written to represent the steps a program must take to solve a particular problem are called _____. (Points : 1)

flowcharts
pseudocode
object code
macro code

Question 11. 11. (TCO 1) The _____ function key will start a Visual Basic 2012 application in the IDE. (Points : 1)

F2
F3
F4
F5


Question 12. 12. (TCO 3) A(n) _____ is a predefined procedure that performs a specific task and then returns a value. (Points : 1)


algorithm
function
Sub procedure
class

Question 13. 13. (TCO 1) A(n) _____ is a predefined procedure that you can call (or invoke) when needed. (Points : 1)

method
object
class
event

Question 14. 14. (TCO 3) In the mathematical expression 4 * 3 + 15 / 3 – 6, which operation is performed last? (Points : 1)

+
-
*
/

Question 15. 15. (TCO 2) Software developers and programmers use _____ to develop the logic of a solution prior to coding the solution. (Points : 1)

flowcharts and pseudocode
algorithms
instructions
All of the above

Question 16. 16. (TCO 2) The third column in a TOE chart lists _____. (Points : 1)

objects to be used in an application’s tasks
tasks the application must perform
events that cause the application to perform tasks
errors that may occur when running the application

Question 17. 17. (TCO 3) A rectangle on a flowchart represents _____. (Points : 1)

an input or output operation
the beginning of the application
a processing step such as a calculation
the end of the application

Question 18. 18. TCO 2) In the V-Model of systems development, usability and acceptance testing verifies the correctness of _____. (Points : 1)

implementation
design
analysis
unit testing

Question 19. 19. (TCO 2) Correcting coding defects found in an application is called _____. (Points : 1)

deploying
documenting
debugging
designing

Question 20. 20. (TCO 3) The backslash () operator in Visual Basic performs _____. (Points : 1)

exponentiation
integer division
multiplication
negation

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Mom’s Cookies, Inc. is considering the purchase of a new cookie oven

Project Cash Flows

Mom’s Cookies, Inc. is considering the purchase of a new cookie oven.  The original cost of the old oven was $30,000; it is now five years old, and it has a current market value of $13,333.33.  The old oven is being depreciated over a 10-year life toward a zero estimated salvage value on a straight-line basis, resulting in a current book value of $15,000 and an annual depreciation expense of $3,000.  The old oven can be used for six more years but has no market value after its depreciable life is over.  Management is contemplating the purchase of a new oven whose cost is $25,000 and whose estimated salvage value is zero.  Expected before-tax cash savings from the new oven are $4,000 a year over its full MACRS depreciable life.  Depreciation is computed using MACRS over a five-year life, and the cost of capital is 10 percent.  Assume a 40 percent tax rate.  What will the cash flows for this project be?

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You are evaluating a project for The Ultimate recreational tennis racket

Project Cash Flows

You are evaluating a project for The Ultimate recreational tennis racket, guaranteed to correct that wimpy backhand.  You estimate the sales price of The Ultimate to be $400 per unit and sales volume to be 1,000 units in year 1; 1,250 units in year 2; and 1,325 units in year 3.  The project has a three-year life.  Variable costs amount to $225 per unit and fixed costs are $100,000 per year.  The project requires an initial investment of $165,000 in assets, which will be depreciated straight-line to zero over the three-year project life.  The actual market value of these assets at the end of year 3 is expected to be $35,000.  NWC requirements at the beginning of each year will be approximately 20 percent of the projected sales during the coming year.  The tax rate is 34 percent and the required return on the project is 10 percent.  What will the cash flows for this project be?

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If the lathe in the previous problem can be sold for $5,000 at the end of year 3

After-tax Cash Flow from Sale of Assets

If the lathe in the previous problem can be sold for $5,000 at the end of year 3, what is the after-tax salvage value?

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KADS, Inc. has spent $400,000 on research to develop a new computer game

Project Cash Flows

KADS, Inc. has spent $400,000 on research to develop a new computer game.  The firm is planning to spend $200,000 on a machine to produce the new game.  Shipping and installation costs of the machine will be capitalized and depreciated; they total $50,000.  The machine has an expected life of three years, a $75,000 estimated resale value, and falls under the MACRS seven-year class life.  Revenue from the new game is expected to be $600,000 per year, with costs of $250,000 per year.  The firm has a tax rate of 35 percent, an opportunity cost of capital of 15 percent, and it expects net working capital to increase by $100,000 at the beginning of the project.  What will the cash flows for this project be?

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You are considering the purchase of one of two machines used in your manufacturing plant

EAC Approach

You are considering the purchase of one of two machines used in your manufacturing plant.  Machine A has a life of two years, costs $80 initially, and then $125 per year in maintenance costs.  Machine B costs $150 initially, has a life of three years, and requires $100 in annual maintenance costs.  Either machine must be replaced at the end of its life with an equivalent machine.  Which is the better machine for the firm?  The discount rate is 12 percent and the tax rate is zero.


One interation of each machine will consist of the following cash flows:


Year                     0        1          2          3
Machine A CFs -$80 -$125 -$125
Machine B CFs -$150 -$100 -$100 -$100

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Devry LAS432 Midterm Exam (A+ Guaranteed)

Devry LAS432 Midterm Exam

Question 1.1. (TCO 1) The Neolithic Revolution was a result of (Points : 5)

controlled planting of crops.
domestication of animals.
development of irrigation systems.
All of the above

Question 2.2. (TCO 1) In the Neolithic Revolution, the growth of communities was a result of (Points : 5)

the use of steam as an energy source.
farming and the domestication of animals.
conquest and settlement.
new trade routes to the East.

Question 3.3. (TCOs 2 & 8) Rapid urbanization in Britain during the 19th century was the result of (Points : 5)

new enclosure laws in rural areas.
a shift from household production to factory production.
a growing dependence upon steam power.
All of the above

Question 4.4. (TCOs 2 & 8) Although telephone systems had much in common with telegraph systems, telephone technology was a more social technology because(Points : 5)

the telephone was a user-to-user technology.
the telegraph required trained interpreters as intermediaries.
the telegraph networked businesses and agencies.
All of the above

Question 5.5. (TCO 4) One of the characteristics of Wiki art is (Points : 5)

it is all the property of Wikipedia.
it’s collaborative and ever-changing.
that finished pieces are sold on an online forum.
that it allows professional artists a new medium.

Question 6.6. (TCO 11) Which of the following is NOT a scholarly resource? (Points : 5)

Journal of the American Medical Association

http://journalofaccountancy.com

Chicago Tribune
www.econlib.org

Question 7.7. (TCO 8) In Britain, members of the industrial middle classes (Points : 5)

kept summer homes in the country to avoid deadly smog.
became Luddites and destroyed machines.
supported labor reforms in Parliament.
did not send their children to work in factories.

Question 8.8. (TCO 11) The intended reader of a scholarly resource would be (Points : 5)

students.
academics.
professionals.
All of the above

Question 9.9. (TCO 12) The term nanotechnology was first used to refer to (Points : 5)

genetically engineered crops.
production technology.
communication between multiple cells.
early personal computers.

Question 10.10. (TCO 12) In China, much research into genetically modified organisms is sponsored by the state, but in the west, research is (Points : 5)

primarily publicly funded.
left solely to research universities.
driven by a handful of large for-profit corporations.
guided by public input and consultation.

You must complete all three essays. These essays are worth 50 points each, so please take the time to think through your answers and review them before submitting.
These essays should be a minimum of five paragraphs in length each. They should contain a clear thesis statement in the first paragraph (an answer to the question!). Make sure your explanation is clear and that you provide specific examples. Any quotes from the readings or external materials must include quotation marks and an in-text citation. Failure to identify quoted material could result in a 0 for the exam and a formal academic dishonesty charge.

(TCOs 1 & 2) What are some of the key impacts of the Industrial Revolution? You may discuss not only ones which came about within the time-span attributed to the Industrial Revolution, but also those which stretched long past the end of that particular historical era. (Points: 50)

Question 2. 2. (TCOs 4 & 8) Define and compare at least two of the ethical theories described by Baase. What are their strengths? In what areas do they lack? Do these theories hold up within our modern, technological society? (Points : 50)

Question 3. 3. (TCOs 3 & 4) How have changes in technology affected the recording industry and our understanding of what it means to be a professional musician? How have changes in technology affected our access to recorded music and the control exercised by traditional distributors? How will all these changes affect cultural trends and our expectations of music as an art form? Provide specific examples. (Points : 50)

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Devry MIS535 Final Exam (A+ Guaranteed)

Devry MIS535 Final Exam

Page 1

Question 1.1. (TCO A) Which of the following objectives best describes the business strategy behind the development of smart grid initiatives by power companies, as discussed in the chapter case? (Points : 4)

Operational excellence
New products and services
Competitive advantage
Customer support

Question 2.2. (TCO B) The interaction between information systems and organizations is influenced (Points : 5)

primarily by the decision making of middle- and senior-managers.
by many factors, including structure, politics, culture, and environment.
by two main microeconomic forces: capital and labor.
primarily by the organization’s business processes and culture.

Question 3.3. (TCO C) Which of the following is not one of the main problems with a traditional file environment? (Points : 4)

Data inconsistency
Program-data independence
Lack of flexibility in creating ad-hoc reports
Poor security

Question 4.4. (TCO D) Corporate network infrastructure is simplified in a cloud computing environment because (Points : 4)

people are able to do less.
corporate LANs are no longer necessary.
application, database, and web servers are moved to the cloud.
mobile and Wi-Fi networks are no longer supported.

Question 5.5. (TCO E) A client computer networked to a server computer, with processing split between the two types of machines, is called a(n) (Points : 5)

service-oriented architecture.
on-demand architecture.
multitiered client/server architecture.
two-tiered client/server architecture.

Question 6.6. (TCO F) What is the “Manifesto for Agile Software Development”? (Points : 4)

A document that defines the new processes to be used in software development
A document that outlines why traditional software development practices don’t work
A document that refines the current software processes
A document that defines a radically new approach to software development

Question 7.7. (TCO G) Many users are attacked because they (Points : 4)

do not apply operating system security updates.
leave their computers running.
do not update browser plug-ins.
download illegal music and movies.

Page 2

Question 1. 1. (TCO A) You are starting a small bike messenger company. Given your type of services (hand-delivering packages within a small geographical area), could your firm be a digital firm? If so, what would make this a digital firm? (Points : 25)

Question 2. 2. (TCO B) You are an analyst for a firm that imports and distributes specialty oils and vinegars, and your company wants you to evaluate its options for taking advantage of cutting-edge business analytics. What are its choices? What will you recommend? (Points : 25)

Question 3. 3. (TCO C) The small publishing company you work for wants to create a new database for storing information about all of its author contracts. What factors will influence how you design the database? (Points : 25)

Question 4. 4. (TCO D) How does packet switching work? (Points : 25)

Question 5. 5. (TCO E) Identify and describe five or more of the current trends in contemporary software platforms. (Points : 25)

Question 6. 6. (TCO F) Americlinic, a national chain of budget healthcare clinics, is creating an information system that will allow patients and doctors at participating franchises to communicate online. The goal of the system is to allow doctors to respond to minor health questions quickly and more efficiently, saving patients unnecessary visits to the clinic. This will be a major procedural change. What steps would you recommend to this company to ensure the user acceptance of the system? (Points : 20)

Question 7. 7. (TCO G) What are the security challenges faced by wireless networks? (Points : 25)

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