# BEC REVIEW 6

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1. An advantage of having a computer maintain an automated error log in conjunction with computer edit programs is that:
reports can be developed that summarize the errors by type, cause, and person responsible.
2. An advantage of having a computer maintain an automated error log in conjunction with computer edit programs is -------------------------------------------------------------------------------
An advantage of having a computer maintain an automated error log in conjunction with computer edit programs is that reports can be developed that summarize the errors by type, cause, and person responsible.
3. Snyder Co. manufactures fans with direct material costs of \$10 per unit and direct labor of \$7 per unit. A local carrier charges Snyder \$5 per unit to make deliveries. Sales commissions are paid at 10% of the selling price. Fans are sold for \$100 each. Indirect factory costs and administrative costs are \$6,800 and \$37,200 per month, respectively. How many fans must Snyder produce to break even?
\$647

Revenue per unit is given in the problem as \$100 per unit.

Variable costs are as follows:

Direct material costs per unit\$10

Direct labor costs per unit 7

Delivery costs per unit 5

Sales commissions @10% of sales 10

Total variable costs per unit             \$32 -->Direct material costs per unit       \$10 Direct labor costs per unit                 7 Delivery costs per unit                      5 Sales commissions at 10% of sales     10                                      ---Total variable costs per unit             \$32                                      ===

Total fixed costs are as follows:

Indirect factory costs\$  6,800

• Total fixed costs           \$44,000 -->
• Indirect factory costs     \$ 6,800 Administrative costs        37,200                            -------Total fixed costs          \$44,000                            =======

Breakeven in units = FC ÷ (P - V) = \$44,000 ÷ (\$100 - \$32) = 647 units
4. The ------------------------- is where revenues equal total costs
The breakeven point is where revenues equal total costs
5. When there is equilibrium in a monopolistically competitive industry, a firm:
will operate inefficiently with price greater than marginal revenue.
6. Given free entry and exit in a ----------------------------------- competitive industry, firms only earn normal profits in the long-run.
Given free entry and exit in a monopolistically competitive industry, firms only earn normal profits in the long-run.
7. A project's net present value, ignoring income tax considerations, is normally affected by the:
proceeds from the sale of the asset to be replaced.
8. Expected proceeds from the-------------------------------------are a future cash inflow, which will affect the proposed project's net present value.
Expected proceeds from the sale of the asset to be replaced are a future cash inflow, which will affect the proposed project's net present value.
9. Expected proceeds from the sale of the asset to be replaced are a future cash inflow, which will affect the ----------------------------------------------
Expected proceeds from the sale of the asset to be replaced are a future cash inflow, which will affect the proposed project's net present value.
10. A network of computers located throughout an organization's different facilities and linked to a centralized computer to fulfill information processing needs is called:
distributed data processing.
11. A network of computers located throughout an organization's different facilities and linked to a centralized computer to fulfill information processing needs is called --------------------------------------------.
A network of computers located throughout an organization's different facilities and linked to a centralized computer to fulfill information processing needs is called distributed data processing.
12. A --------------------------- is a communication network, “locally” distributed, i.e., within a single office, and linked by cables which allows each unit to communicate with the others.
A local area network is a communication network, “locally” distributed, i.e., within a single office, and linked by cables which allows each unit to communicate with the others.
13. ------------------- is interactive real-time processing  in which the user is in direct communication with the computer, which processes transactions as soon as they are entered.
Online processing is interactive real-time processing  in which the user is in direct communication with the computer, which processes transactions as soon as they are entered.
14. The ------------------------------ analysis is to use an independent variable to predict the value of another variable.
The purpose of regression analysis is to use an independent variable to predict the value of another variable.
15. What is the purpose of regression analysis
The purpose of regression analysis is to use an independent variable to predict the value of another variable.
16. ----------------------------------------- is the quantity of inventory that should be ordered at one time in order to minimize the associated costs of carrying and ordering inventory, such as purchase-order processing, transportation, and insurance.
Economic order quantity (EOQ) is the quantity of inventory that should be ordered at one time in order to minimize the associated costs of carrying and ordering inventory, such as purchase-order processing, transportation, and insurance.
17. What is Economic Order Quantity (EOQ)?
Economic order quantity (EOQ) is the quantity of inventory that should be ordered at one time in order to minimize the associated costs of carrying and ordering inventory, such as purchase-order processing, transportation, and insurance.
18. If you know a nation's net domestic product (NDP), you can compute national income (NI) by:
subtracting net foreign factor income earned in the United States and indirect business taxes.
19. What is the Gross Domestic Product?
The Gross Domestic Product is the total market value of all final goods and services produced within a specified country.
20. What is the Net Domestic Product?
The Net Domestic Product is the Gross Domestic Product less depreciation.
 Author: Joens1313 ID: 310634 Card Set: BEC REVIEW 6 Updated: 2015-10-30 02:43:36 Tags: BEC REVIEW Folders: Description: BEC REVIEW 6 Show Answers: