Quiz #3 - Summer 2013 Key
Quiz #3 - Summer 2013 Key 1. Tower Company planned to produce 3,000 units of its single product, Titactium, during November. The standards for one unit of Titactium specify six kilograms of materials at $0.30 per kilogram. Actual production in November was 3,100 units of Titactium. There was a favourable materials price variance of $380 and an unfavourable materials quantity variance of $120. Based on these variances, what could one assume? A. That more materials were purchased than were used. B. That more materials were used than were purchased. C. That the actual cost per kilogram for materials was less than the standard cost per kilogram. D. That the actual usage of materials was less than the standard allowed.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 10 #12 Learning Objective: 2
2. Dahl Company, a clothing manufacturer, uses a standard costing system. Each unit of a finished product contains 2 metres of cloth. However, there is unavoidable waste of 20%, calculated on input quantities, when the cloth is cut for assembly. The cost of the cloth is $3 per metre. What is the standard direct material cost for cloth per unit of finished product? A. $4.80. B. $6.00. C. $7.00. D. $7.50. 2m/(1 - .20) * $3
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #18 Learning Objective: 1
3. Cox Company's direct material costs for the month of January were as follows:
What was the favourable direct materials quantity variance for January? A. $3,360. B. $3,375. C. $3,400. D. $3,800. Std. Price = (18,000*3.60 - 3,600)/18,000 = $3.40/kg. (16,000 - 15,000)*$3.40
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #19 Learning Objective: 2
4. The Porter Company has a standard cost system. In July, the company purchased and used 22,500 kilograms of direct material at an actual cost of $53,000, the materials quantity variance was $1,875 unfavourable, and the standard quantity of materials allowed for July production was 21,750 kilograms. What was the materials price variance for July? A. $2,725 favourable. B. $2,725 unfavourable. C. $3,250 favourable. D. $3,250 unfavourable. Std. Price = 1,875/(22,500 - 21,750) = $2.50/kg. variance = 22,500*2.50 - 53,000
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #20 Learning Objective: 2
5. The Fletcher Company uses standard costing. The following data are available for October:
What was the standard quantity of material allowed for October production? A. 23,000 kilograms. B. 24,000 kilograms. C. 24,500 kilograms. D. 25,000 kilograms. (23,500*2 + 1,000)/2
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #27 Learning Objective: 2
6. Borden Enterprises uses standard costing. For the month of April, the company reported the following data:
What was the labour rate variance for April? A. $2,850 favourable. B. $2,850 unfavourable. C. $3,760 favourable. D. $3,760 unfavourable. (8,000*10 - 4,800)/10 *(10 - 9.50)
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #36 Learning Objective: 3
King Company estimated that it would operate its manufacturing facilities at 800,000 direct labour hours for the year, which served as the denominator activity in the predetermined overhead rate. The total budgeted manufacturing overhead for the year was $2,000,000, of which $1,600,000 was variable and $400,000 was fixed. The standard variable overhead rate was $2 per direct labour hour. The standard direct labour time was 3 direct labour hours per unit. The actual results for the year are presented below:
Garrison - Chapter 10
7. What was the variable overhead spending variance for the year? A. $2,000 favourable. B. $10,000 unfavourable. C. $82,000 unfavourable. D. $110,000 unfavourable. 764,000*2 - 1,610,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #127 Learning Objective: 4
8. What was the variable overhead efficiency variance for the year? A. $28,000 favourable. B. $28,000 unfavourable. C. $192,000 favourable. D. $192,000 unfavourable. (250,000*3 - 764,000)*2
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #128 Learning Objective: 4
9. What was the fixed overhead volume variance for the year? A. $7,000 unfavourable. B. $18,000 favourable. C. $25,000 unfavourable. D. $41,667 unfavourable. 250,000 * 3 * 400,000/800,000 - 400,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #130 Learning Objective: 5 Learning Objective: 6
10. All other things being equal, which of the following is a consequence of an increase in a division's traceable fixed expenses? A. The division's contribution margin ratio will decrease. B. The division's segment margin ratio will remain the same. C. The division's segment margin will decrease. D. The overall company operating income will remain the same.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #3 Learning Objective: 1
11. Lyons Company consists of two divisions: A and B. Lyons Company reported a contribution margin of $50,000 for Division A, and had a contribution margin ratio of 30% in Division B, when sales in Division B were $200,000. Operating income for the company was $25,000 and traceable fixed expenses were $40,000. What were Lyons Company's common fixed expenses? A. $40,000. B. $45,000. C. $70,000. D. $85,000. 50,000 + 200,000*.30 - 40,000 - 25,000
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 11 #4 Learning Objective: 1
12. More Company has two divisions: L and M. During July, the contribution margin in Division L was $60,000. The contribution margin ratio in Division M was 40%, and its sales were $250,000. Division M's segment margin was $60,000. The common fixed expenses were $50,000, and the company operating income was $20,000. What was the segment margin for Division L? A. $0. B. $10,000. C. $50,000. D. $60,000. Total SM = 20,000 + 50,000 = 70,000. L's SM = 70,000 - 60,000
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 11 #5 Learning Objective: 1
13. Divisions A and B of Denner Company reported the following results for October:
If common fixed expenses were $31,000, what were the total fixed expenses? A. $31,000. B. $52,000. C. $62,000. D. $93,000. 31,000 + (90,000*(1 -.70) - 2,000) + (150,000*(1 -.60) - 23,000)
Blooms Level: Apply Difficulty: Hard Garrison - Chapter 11 #7 Learning Objective: 1
14. Which of the following statements provide(s) an argument in favour of including only a plant's net book value rather than gross book value as part of operating assets in the ROI computation? I. Net book value is consistent with how plant and equipment items are reported on a balance sheet. II. Net book value is consistent with the computation of operating income, which includes amortization as an operating expense. III. Net book value allows ROI to decrease over time as assets get older. A. I only. B. III only. C. I and II only. D. I and III only.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #15 Learning Objective: 5
15. Assuming that sales and operating income remain the same, which of the following statements about a company's return on investment is correct? A. It will increase if operating assets increase. B. It will decrease if operating assets decrease. C. It will decrease if turnover decreases. D. It will decrease if turnover increases.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #18 Learning Objective: 4
16. Which of the following is a correct definition of operating income? A. Sales minus variable expenses. B. Sales minus variable expenses and traceable fixed expenses. C. Contribution margin minus traceable and common fixed expenses. D. Income before interest and taxes (EBIT).
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #22 Learning Objective: 1 Learning Objective: 2
17. Which costing system focuses on all costs along the value chain? A. Activity-based costing. B. Process costing. C. Life cycle costing. D. Absorption costing.
Blooms Level: Understand Difficulty: Hard Garrison - Chapter 11 #28 Learning Objective: 6
18. What should a firm faced with a production constraint do to maximize total contribution margin? A. Promote those products having the highest unit contribution margins. B. Promote those products having the highest contribution margin ratios. C. Promote those products having the highest contribution margin per unit of constrained resource. D. Promote those products having the highest contribution margins and contribution margin ratios.
Blooms Level: Understand Difficulty: Easy Garrison - Chapter 12 #3 Learning Objective: 3
19. Which of the following best describes a plant operating at capacity? A. Every machine and person in the plant is working at the maximum possible rate. B. Only some specific machines or processes are operating at the maximum rate possible. C. Fixed costs will need to change to accommodate increased demand. D. Managers should produce those products with the highest contribution margin in order to deal with the constrained resource.
Blooms Level: Understand Difficulty: Hard Garrison - Chapter 12 #4 Learning Objective: 2 Learning Objective: 3
20. What is the opportunity cost of making a component part in a factory with no excess capacity? A. Variable manufacturing cost of the component. B. Fixed manufacturing cost of the component. C. Cost of the production given up in order to manufacture the component. D. Net benefit foregone from the best alternative use of the capacity required.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 12 #6 Learning Objective: 2
21. The Lantern Corporation has 1,000 obsolete lanterns that are carried in inventory at a manufacturing cost of $20,000. If the lanterns are re-machined for $5,000, they could be sold for $9,000. Alternatively, the lanterns could be sold for scrap for $1,000. Which alternative is more desirable, and what are the total relevant costs for that alternative? A. Re-machine and $5,000. B. Re-machine and $25,000. C. Scrap and $20,000. D. Scrap and $19,000. 9,000 - 5,000 - 1,000 = 4,000 advantage to re-machine. Total relevant cost to re-machine are $5,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #9 Learning Objective: 1 Learning Objective: 2
22. Relay Corporation manufactures batons. Relay can manufacture 300,000 batons a year at a variable cost of $750,000 and a fixed cost of $450,000. Based on Relay's predictions for next year, 240,000 batons will be sold at the regular price of $5.00 each. In addition, a special order was placed for 60,000 batons to be sold at a 40% discount off the regular price. Total fixed costs would be unaffected by this order. By what amount would the company's operating income be increased or decreased as a result of the special order? A. $30,000 increase. B. $36,000 increase. C. $60,000 decrease. D. $180,000 increase. [5 * (1 -.40) - 750,000/300,000]*60,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #10 Learning Objective: 2
23. Wagner Company sells Product A for $21 per unit. Wagner's unit product cost based on the full capacity of 200,000 units is as follows:
A special order offering to buy 20,000 units has been received from a foreign distributor. The only selling costs that would be incurred on this order would be $3 per unit for shipping. Wagner has sufficient idle capacity to manufacture the additional units. Two-thirds of the manufacturing overhead is fixed and would not be affected by this order. Assume that direct labour is an avoidable cost in this decision. In negotiating a price for the special order, what should be the minimum acceptable selling price per unit? A. $14. B. $15. C. $16. D. $18. 4 + 5 + 6*(1 - 2/3) + 3
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #12 Learning Objective: 1 Learning Objective: 2
24. A study has been conducted to determine if Product A should be dropped. Total sales of the product are $200,000 per year; total variable expenses are $140,000 per year. Total fixed expenses charged to the product are $90,000 per year. The company estimates that $40,000 of these fixed expenses will continue even if the product is dropped. These data indicate that if Product A is dropped, the company's overall operating income per year would change by how much? A. A decrease of $10,000. B. An increase of $20,000. C. A decrease of $20,000. D. An increase of $30,000. Lost CM = 200,000 - 140,000 = (60,000). Add avoidable costs (90,000 - 40,000). Decreased Operating Income of 10,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #14 Learning Objective: 1 Learning Objective: 2
25. Pitkin Company produces a part used in the manufacture of one of its products. The unit product cost of the part is $33, computed as follows:
An outside supplier has offered to provide the annual requirement of 10,000 of the parts for only $27 each. The company estimates that 30% of the fixed manufacturing overhead costs above will continue if the parts are purchased from the outside supplier. Assume that direct labour is an avoidable cost in this decision. Based on these data, what will be the per-unit dollar advantage or disadvantage of purchasing the parts from the outside supplier? A. $1 advantage. B. $1 disadvantage. C. $3 advantage. D. $4 disadvantage. Cost to make = 12 + 8 + 3 + 10*(1 -.30) = $30. Advantage to buy = 30 - 27
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #21 Learning Objective: 1 Learning Objective: 2
Quiz #3 - Summer 2013 Summary Category
# of Questions
Blooms Level: Analyze
4
Blooms Level: Analyze
1
Blooms Level: Analyze
1
Blooms Level: Apply
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Blooms Level: Apply
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Blooms Level: Apply
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Blooms Level: Apply
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Blooms Level: Apply
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Blooms Level: Understand
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Difficulty: Easy
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Difficulty: Hard
9
Difficulty: Medium
15
Garrison - Chapter 10
10
Garrison - Chapter 11
8
Garrison - Chapter 12
8
Learning Objective: 1
10
Learning Objective: 2
12
Learning Objective: 3
3
Learning Objective: 4
3
Learning Objective: 5
2
Learning Objective: 6
2
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 10 #12 Learning Objective: 2
2. Dahl Company, a clothing manufacturer, uses a standard costing system. Each unit of a finished product contains 2 metres of cloth. However, there is unavoidable waste of 20%, calculated on input quantities, when the cloth is cut for assembly. The cost of the cloth is $3 per metre. What is the standard direct material cost for cloth per unit of finished product? A. $4.80. B. $6.00. C. $7.00. D. $7.50. 2m/(1 - .20) * $3
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #18 Learning Objective: 1
3. Cox Company's direct material costs for the month of January were as follows:
What was the favourable direct materials quantity variance for January? A. $3,360. B. $3,375. C. $3,400. D. $3,800. Std. Price = (18,000*3.60 - 3,600)/18,000 = $3.40/kg. (16,000 - 15,000)*$3.40
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #19 Learning Objective: 2
4. The Porter Company has a standard cost system. In July, the company purchased and used 22,500 kilograms of direct material at an actual cost of $53,000, the materials quantity variance was $1,875 unfavourable, and the standard quantity of materials allowed for July production was 21,750 kilograms. What was the materials price variance for July? A. $2,725 favourable. B. $2,725 unfavourable. C. $3,250 favourable. D. $3,250 unfavourable. Std. Price = 1,875/(22,500 - 21,750) = $2.50/kg. variance = 22,500*2.50 - 53,000
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #20 Learning Objective: 2
5. The Fletcher Company uses standard costing. The following data are available for October:
What was the standard quantity of material allowed for October production? A. 23,000 kilograms. B. 24,000 kilograms. C. 24,500 kilograms. D. 25,000 kilograms. (23,500*2 + 1,000)/2
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #27 Learning Objective: 2
6. Borden Enterprises uses standard costing. For the month of April, the company reported the following data:
What was the labour rate variance for April? A. $2,850 favourable. B. $2,850 unfavourable. C. $3,760 favourable. D. $3,760 unfavourable. (8,000*10 - 4,800)/10 *(10 - 9.50)
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 10 #36 Learning Objective: 3
King Company estimated that it would operate its manufacturing facilities at 800,000 direct labour hours for the year, which served as the denominator activity in the predetermined overhead rate. The total budgeted manufacturing overhead for the year was $2,000,000, of which $1,600,000 was variable and $400,000 was fixed. The standard variable overhead rate was $2 per direct labour hour. The standard direct labour time was 3 direct labour hours per unit. The actual results for the year are presented below:
Garrison - Chapter 10
7. What was the variable overhead spending variance for the year? A. $2,000 favourable. B. $10,000 unfavourable. C. $82,000 unfavourable. D. $110,000 unfavourable. 764,000*2 - 1,610,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #127 Learning Objective: 4
8. What was the variable overhead efficiency variance for the year? A. $28,000 favourable. B. $28,000 unfavourable. C. $192,000 favourable. D. $192,000 unfavourable. (250,000*3 - 764,000)*2
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #128 Learning Objective: 4
9. What was the fixed overhead volume variance for the year? A. $7,000 unfavourable. B. $18,000 favourable. C. $25,000 unfavourable. D. $41,667 unfavourable. 250,000 * 3 * 400,000/800,000 - 400,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 10 #130 Learning Objective: 5 Learning Objective: 6
10. All other things being equal, which of the following is a consequence of an increase in a division's traceable fixed expenses? A. The division's contribution margin ratio will decrease. B. The division's segment margin ratio will remain the same. C. The division's segment margin will decrease. D. The overall company operating income will remain the same.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #3 Learning Objective: 1
11. Lyons Company consists of two divisions: A and B. Lyons Company reported a contribution margin of $50,000 for Division A, and had a contribution margin ratio of 30% in Division B, when sales in Division B were $200,000. Operating income for the company was $25,000 and traceable fixed expenses were $40,000. What were Lyons Company's common fixed expenses? A. $40,000. B. $45,000. C. $70,000. D. $85,000. 50,000 + 200,000*.30 - 40,000 - 25,000
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 11 #4 Learning Objective: 1
12. More Company has two divisions: L and M. During July, the contribution margin in Division L was $60,000. The contribution margin ratio in Division M was 40%, and its sales were $250,000. Division M's segment margin was $60,000. The common fixed expenses were $50,000, and the company operating income was $20,000. What was the segment margin for Division L? A. $0. B. $10,000. C. $50,000. D. $60,000. Total SM = 20,000 + 50,000 = 70,000. L's SM = 70,000 - 60,000
Blooms Level: Analyze Difficulty: Hard Garrison - Chapter 11 #5 Learning Objective: 1
13. Divisions A and B of Denner Company reported the following results for October:
If common fixed expenses were $31,000, what were the total fixed expenses? A. $31,000. B. $52,000. C. $62,000. D. $93,000. 31,000 + (90,000*(1 -.70) - 2,000) + (150,000*(1 -.60) - 23,000)
Blooms Level: Apply Difficulty: Hard Garrison - Chapter 11 #7 Learning Objective: 1
14. Which of the following statements provide(s) an argument in favour of including only a plant's net book value rather than gross book value as part of operating assets in the ROI computation? I. Net book value is consistent with how plant and equipment items are reported on a balance sheet. II. Net book value is consistent with the computation of operating income, which includes amortization as an operating expense. III. Net book value allows ROI to decrease over time as assets get older. A. I only. B. III only. C. I and II only. D. I and III only.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #15 Learning Objective: 5
15. Assuming that sales and operating income remain the same, which of the following statements about a company's return on investment is correct? A. It will increase if operating assets increase. B. It will decrease if operating assets decrease. C. It will decrease if turnover decreases. D. It will decrease if turnover increases.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #18 Learning Objective: 4
16. Which of the following is a correct definition of operating income? A. Sales minus variable expenses. B. Sales minus variable expenses and traceable fixed expenses. C. Contribution margin minus traceable and common fixed expenses. D. Income before interest and taxes (EBIT).
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 11 #22 Learning Objective: 1 Learning Objective: 2
17. Which costing system focuses on all costs along the value chain? A. Activity-based costing. B. Process costing. C. Life cycle costing. D. Absorption costing.
Blooms Level: Understand Difficulty: Hard Garrison - Chapter 11 #28 Learning Objective: 6
18. What should a firm faced with a production constraint do to maximize total contribution margin? A. Promote those products having the highest unit contribution margins. B. Promote those products having the highest contribution margin ratios. C. Promote those products having the highest contribution margin per unit of constrained resource. D. Promote those products having the highest contribution margins and contribution margin ratios.
Blooms Level: Understand Difficulty: Easy Garrison - Chapter 12 #3 Learning Objective: 3
19. Which of the following best describes a plant operating at capacity? A. Every machine and person in the plant is working at the maximum possible rate. B. Only some specific machines or processes are operating at the maximum rate possible. C. Fixed costs will need to change to accommodate increased demand. D. Managers should produce those products with the highest contribution margin in order to deal with the constrained resource.
Blooms Level: Understand Difficulty: Hard Garrison - Chapter 12 #4 Learning Objective: 2 Learning Objective: 3
20. What is the opportunity cost of making a component part in a factory with no excess capacity? A. Variable manufacturing cost of the component. B. Fixed manufacturing cost of the component. C. Cost of the production given up in order to manufacture the component. D. Net benefit foregone from the best alternative use of the capacity required.
Blooms Level: Understand Difficulty: Medium Garrison - Chapter 12 #6 Learning Objective: 2
21. The Lantern Corporation has 1,000 obsolete lanterns that are carried in inventory at a manufacturing cost of $20,000. If the lanterns are re-machined for $5,000, they could be sold for $9,000. Alternatively, the lanterns could be sold for scrap for $1,000. Which alternative is more desirable, and what are the total relevant costs for that alternative? A. Re-machine and $5,000. B. Re-machine and $25,000. C. Scrap and $20,000. D. Scrap and $19,000. 9,000 - 5,000 - 1,000 = 4,000 advantage to re-machine. Total relevant cost to re-machine are $5,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #9 Learning Objective: 1 Learning Objective: 2
22. Relay Corporation manufactures batons. Relay can manufacture 300,000 batons a year at a variable cost of $750,000 and a fixed cost of $450,000. Based on Relay's predictions for next year, 240,000 batons will be sold at the regular price of $5.00 each. In addition, a special order was placed for 60,000 batons to be sold at a 40% discount off the regular price. Total fixed costs would be unaffected by this order. By what amount would the company's operating income be increased or decreased as a result of the special order? A. $30,000 increase. B. $36,000 increase. C. $60,000 decrease. D. $180,000 increase. [5 * (1 -.40) - 750,000/300,000]*60,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #10 Learning Objective: 2
23. Wagner Company sells Product A for $21 per unit. Wagner's unit product cost based on the full capacity of 200,000 units is as follows:
A special order offering to buy 20,000 units has been received from a foreign distributor. The only selling costs that would be incurred on this order would be $3 per unit for shipping. Wagner has sufficient idle capacity to manufacture the additional units. Two-thirds of the manufacturing overhead is fixed and would not be affected by this order. Assume that direct labour is an avoidable cost in this decision. In negotiating a price for the special order, what should be the minimum acceptable selling price per unit? A. $14. B. $15. C. $16. D. $18. 4 + 5 + 6*(1 - 2/3) + 3
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #12 Learning Objective: 1 Learning Objective: 2
24. A study has been conducted to determine if Product A should be dropped. Total sales of the product are $200,000 per year; total variable expenses are $140,000 per year. Total fixed expenses charged to the product are $90,000 per year. The company estimates that $40,000 of these fixed expenses will continue even if the product is dropped. These data indicate that if Product A is dropped, the company's overall operating income per year would change by how much? A. A decrease of $10,000. B. An increase of $20,000. C. A decrease of $20,000. D. An increase of $30,000. Lost CM = 200,000 - 140,000 = (60,000). Add avoidable costs (90,000 - 40,000). Decreased Operating Income of 10,000
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #14 Learning Objective: 1 Learning Objective: 2
25. Pitkin Company produces a part used in the manufacture of one of its products. The unit product cost of the part is $33, computed as follows:
An outside supplier has offered to provide the annual requirement of 10,000 of the parts for only $27 each. The company estimates that 30% of the fixed manufacturing overhead costs above will continue if the parts are purchased from the outside supplier. Assume that direct labour is an avoidable cost in this decision. Based on these data, what will be the per-unit dollar advantage or disadvantage of purchasing the parts from the outside supplier? A. $1 advantage. B. $1 disadvantage. C. $3 advantage. D. $4 disadvantage. Cost to make = 12 + 8 + 3 + 10*(1 -.30) = $30. Advantage to buy = 30 - 27
Blooms Level: Apply Difficulty: Medium Garrison - Chapter 12 #21 Learning Objective: 1 Learning Objective: 2
Quiz #3 - Summer 2013 Summary Category
# of Questions
Blooms Level: Analyze
4
Blooms Level: Analyze
1
Blooms Level: Analyze
1
Blooms Level: Apply
1
Blooms Level: Apply
1
Blooms Level: Apply
1
Blooms Level: Apply
1
Blooms Level: Apply
1
Blooms Level: Apply
2
Blooms Level: Apply
1
Blooms Level: Apply
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Blooms Level: Apply
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Blooms Level: Understand
1
Blooms Level: Understand
1
Blooms Level: Understand
3
Blooms Level: Understand
2
Blooms Level: Understand
2
Difficulty: Easy
1
Difficulty: Hard
9
Difficulty: Medium
15
Garrison - Chapter 10
10
Garrison - Chapter 11
8
Garrison - Chapter 12
8
Learning Objective: 1
10
Learning Objective: 2
12
Learning Objective: 3
3
Learning Objective: 4
3
Learning Objective: 5
2
Learning Objective: 6
2
