p2 模拟测试 mock12 答案与解析问题答疑版

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An investment yielded a cash return of 10.24% during a year when inflation was 6%. What was the real rate of return?

Project M has a net present value (NPV) of $168,470 and generates cash flows for a 6 year period. If the company's cost of capital is 12%. What is the equivalent annual NPV for project M?

A marketing manager is determining the optimum selling price for a particular product.The manager has decided to use the mathematical model that is based on economic theory. The aim of this pricing model is to maximize: A. the volume of output sold. B. the difference between marginal revenue and marginal cost. C. the difference between total cost and total revenue. D. the marginal revenue.

A company produces four products, details of which are below: W X Y Z Selling price per unit $$ 160 150 175 190 Direct material cost per unit $$ 80 95 115 120 Maximum demand (units) 41,000 34,000 54,000 41,000 Time required on bottleneck resource (hours per unit) 8 5 4 4 The company has identified a bottleneck in one of the machinery processes. There are insufficient hours available for the machinery that is causing the bottleneck to produce maximum demand for all four products. Prioritize the order to produce the products to maximize profits in this situation.

EX strives to achieve quality in production and operates a just-in-time system. EX is vigilant on matters of health and safety, and also attaches a high priority to protecting the environment. Which of the following sets of key performance indicators should EX adopt?

A company is considering investing in new machinery that will generate cash savings of $$70,000 a year. The machinery will cost $$350,000 and will be sold for $100,000 after five years. The company uses a range of methods to raise capital investments, including the accounting rate of return (ARR) based on the average investment and the average annual accounting profit. Depreciation is calculated on a straight line basis. The ARR for this investment is closest to:

All of the output from a division of a company is transferred to other divisions in the same company. For this division, the transfer price that the division uses does NOT affect which of the following measures?

A company is changing from traditional overhead absorption costing, using labour hours as the base, to an activity-based costing system. The budgeted data for the next year's set-up costs are as follows: Set up costs $240,000 Labour hours 50,000 Number of set ups per year 500 Details for product A(which is included in the above figures) are as follows: Output 720 units Labour hours per unit 2 hours Batches per set up 4 Units per batch 60 As a result of the change, the set-up costs charged to one unit of product A will:

DLW produces components for refrigeration companies. DLW currently uses a range of investment appraisal techniques including sensitivity analysis, modified internal rate of return, payback and net present value analysis. It has been identified that DLW is neglecting primary information relating to external factors in its capital investment appraisal processes. Which of the following is an example of the type of information that is being neglected by DLW?

Last month's performance report for the production manager of a company included the following: 1,000 direct labour hours were worked at a basic rate of pay of $$10 per hour. 200 of these hours were worked during overtime for which a 30% overtime premium was paid 70 of these overtime hours were to fulfil a customer order that had originally been planned for manufacture next month. The sales manager had agreed to bring forward the delivery of this order at the request of the customer. The remaining overtime hours were due to unexpected inefficiency of the workforce; this has been traced to poor supervision by a junior manager. Material costs included the following: •$$5,400 of material A. Material A is a commodity and, due to changes on the global market, the actual unit cost of this material for last month was 8% higher than had been expected. •$5,250 of material B.The usage of material B last month was 5% higher than it should have been due to faulty workmanship on the production line. What is the total value of the above costs that was controllable by the production manager?

Division J and division K are part of the same group. Division J makes product X, which it sells both on a perfect external market and to division K, which uses it as a component in making product Y. There are no cost savings arising from internal transfers. Which of the following transfer prices per unit would be acceptable to both divisions?

A company is conducting a Net Present Value (NPV) analysis of a project. The initial set up costs of the project include investment in machinery of $$1,000,000. For the first two years of the ten year project, the following relevant cash flows have been calculated: Year 1 Year 2 $$000 $000 Sales revenue 2,000 2,400 Variable production costs -1,000 -1,200 Fixed production costs -200 -200 Working capital changes -100 -150 Tax allowable depreciation is available at 20% on a reducing balance basis. Tax is paid one year in arrears at a rate of 25%. What is the relevant cash flow for tax paid, in year 2 of the NPV analysis?

A printing company with a divisional structure pays the manager of division B a bonus based on the division's annual return on capital employed (ROCE). In order to receive any bonus, a minimum ROCE of 20% must be achieved, thereafter the bonus increases in line with increases in the ROCE. A ROCE of 24% was achieved this year by division B and the divisional manager received a large bonus. The divisional manager is considering an investment next year in a new machine. The incremental ROCE earned by the machine is expected to be 19%, although the ROCE for the division as a whole with the machine is expected to be 22%. Without the machine, ROCE is likely to be stable at 24%. The cost of capital for the company, as a whole, is 18% per year. Which of the following statements is correct?

SC has $100,000 available for capital investment projects. Five independent (and indivisible) projects have been identified for consideration as follows. SC 有 100000 美元可用于资本投资项目。已确定五个独立（不可分割）的项目供审议，具体如下。 Project Initial investment Net present value 1 $$20,000 $$1,500 2 $$28,000 $$4,500 3 $$50,000 $$6,000 4 $$60,000 $$8,000 5 $$75,000 $$10,000 A senior manager has a personal commitment to project 5 and has pushed to fund that project. Calculate the opportunity cost associated with making that investment. 一位高级经理对项目 5 有个人承诺，并推动为该项目提供资金。计算与该投资相关的机会成本。

Which of the following is NOT a feature of business process re-engineering?

The directors of a company have decided to use a system of transfer prices based on market value prices. This decision was made after much discussion with divisional managers, some of whom preferred alternative bases for transfer pricing. Which of the following statements from the discussions that took place is incorrect?

A company has only $100,000 available for capital investment projects in the next period. The company's cost of capital is 15% and the following independent projects are available: 一家公司只有 10 万美元可用于下一期的资本投资项目。公司的资本成本为 15%，有以下独立项目： Project Investment required Present value of cash inflows at 15% J $$48,000 $$68,400 K $$50,000 $$71,800 L $$38,000 $$63,600 It is not possible to undertake a fraction of a project. What is the maximum net present value that can be achieved from investment in these projects? $

The directors of a company have decided to use a system of transfer prices based on market value prices. This decision was made after much discussion with divisional managers, some of whom preferred alternative bases for transfer pricing. Which of the following statements from the discussions that took place is incorrect?

A company has just launched a new product at a selling price that is designed to rapidly gain market share and to discourage other competitors from entering the market. Which pricing strategy is the company using?

A not-for-profit organization measures performance using the three Es. If the organization has made optimum utilization of available resources then it should be described as: