Question : 7) Eliminating non-value added activities by reducing their cost drivers, : 1185996

Accounting

7) Eliminating non-value added activities by reducing their cost drivers, is referred to as

A) value-added pricing.

B) value-added activity base pricing.

C) cost incurrence costing.

D) price engineering.

E) value engineering.

8) When are a product’s direct materials cost most likely to be locked in?

A) when the product is designed

B) when purchasing commits to buying the materials

C) when the bill for the materials is paid

D) when the materials are used in production

E) when materials are received from the supplier

9) In a graph with cumulative costs per unit as the Y-axis, with two curves, one being the cumulative costs locked-in, and a second curve showing the cumulative costs per unit incurred in different business functions, which of the following is true?

A) The graph will show the divergence between the amount of locked-in costs and costs incurred, by the end of the production cycle.

B) Locked-in costs rise much slower initially than the incurred cost, but joining the incurred cost line at the completion of the value chain functions.

C) The two cost lines will run parallel.

D) No differences unless the product is manufactured inefficiently.

E) Both curves deal with the same cumulative cost per unit.

10) Which of the following is true concerning value-engineering?

A) The goal of value-engineering is to eliminate locked-in costs.

B) After a product’s design has been value-engineered, costs are difficult to influence.

C) When and how costs are locked in are more important than when and how costs are incurred.

D) Value-engineering does not work when dealing with direct costs.

E) Value-engineering activities reduce both value-added and non-value-added costs.

11) For setting long-term prices a company should use full product costs. Full product costs for pricing purposes

A) include direct costs only.

B) include all manufacturing costs only.

C) does not include fixed overhead.

D) equals manufacturing and selling costs.

E) include all direct costs plus an appropriate allocation of the indirect costs of all business functions.

12) A company uses a long-run time horizon to price its product, an electronic component used in aircraft. To produce a normal production run for a year of 100,000 units direct materials are $90,000; direct labour is $180,000; and, rent on leased equipment is $106,000 per year. Currently re-work is running at 4% of production, after testing. The company has the capacity to test 10 units per hour. Manufacturing Overhead has two cost drivers: testing (cost driver is testing hours at $2.50 per hour); and, rework (cost driver is units reworked at $80 per unit re-worked).

Calculate current total manufacturing costs for 100,000 units.

A) $320,000

B) $376,000

C) $396,000

D) $401,000

E) $721,000

13) Which of the following is true of alternative long-run pricing approaches?

A) A market-based approach only considers how customers will react.

B) A cost-based approach only considers how customers will react.

C) A market-based approach only considers costs.

D) A market-based approach is more logical in a competitive market.

E) In cost-plus pricing, selling price ignores market forces when setting the markup.

14) Most of a product’s life-cycle costs are locked in by decisions made during the ________ business function of the value chain.

A) design

B) manufacturing

C) customer-service

D) marketing

E) research

15) Survey evidence suggest that most companies use which type of cost when making pricing decisions?

A) cost-plus

B) absorption product costing

C) variable product costs

D) variable manufacturing costs

E) manufacturing function costs

16) Valley West Amusement Park is evaluating its ticket prices. It is open during the summer months for 15 weeks. The following information pertains to last year’s tourist season.

Costs are expected to remain the same for this year.

Average tourists per day on Friday thru Tuesday2,500

Average tourists per day on Wednesday and Thursday1,000

Variable operating costs per day when open$4,100

Fixed overhead costs per year$180,000

Marketing costs per year$62,500

Customer service costs per year$5,000

Required:

What is the unit cost when establishing a long-run price for tour tickets?

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July 1, 2023

Develop a Teaching Plan (Due Week 6) and Deliver in a Presentation (Due Week 7)

Teaching Plan

Select one class period from the course syllabus you created in week 5 and develop a teaching plan for your chosen class. Following the assignment guidelines below,
develop and
submit your teaching plan for the class period during week 6 and
deliver a mini presentation explaining your teaching plan during week 7.

Assignment Guidelines

Your teaching plan should serve as a road map of what you think students need to learn as well as how you will effectively deliver your instruction and evaluate what the students learned during the class period. Your teaching plan should guide your teaching presentation during week 7 (see guidelines for the presentation in week 7). While there are many formats for a teaching plan, the following sections should be included in your plan:

·

The subject or topic that you plan to teach:
Your topic should be selected from one of the class periods listed in your syllabus that you developed for an undergraduate nursing course.

·

Level of instruction:
The placement of the course in the nursing program curriculum (i.e., freshman, junior, sophomore, senior; beginning, mid-program, or end-of-program level)

·

Method/mode of delivering your teaching presentation:
Form of audio-visual delivery, PowerPoint presentation, or similar method

·

Learning objectives:
Include 4–5 outcome statements that define what you expect the students to learn or accomplish by the end of the class period. Your learning objectives should be clear and measurable, and appropriate to the information you are teaching, and the level of instruction.

·

Content outline:
Develop an outline of the central points and/or skills you plan to cover. Your content should be logically structured.

·

Teaching strategies and learning activities:
List the approach, techniques, and methods you will use to drive your instruction and engage your students to reach the learning objectives (e.g., lecture, active learning, discussions). Provide a rationale supporting your selected teaching strategies, as well as their advantages and disadvantages.

·

Plans for individual learning differences:
How you plan to adapt your teaching to meet individual learning needs of various students. Explain how individuals with different learning styles will be supported by your teaching strategies and activities.

·

Evaluation process:
List the methods you plan to use to assess student learning and evaluate the effectiveness of your teaching strategies (how you will determine if students met the outcome objectives).

· Include formative (questioning, discussion, games, etc.) and summative (assignment, test, presentation, etc.) evaluation strategies.

· Include at least one written assignment and develop a rubric that clearly describes your expectations for the assignment. Your rubric should:

· List the criteria that will be assessed (a breakdown of the assignment parts).

· Include some type of scale that measures the levels of quality for the criteria being assessed (e.g., from excellent to poor, from exceeds expectations to does not meet expectations).