Exam (elaborations)
MSIS 3223 Final Exam Review OKSTATE/69 Q’s and A’s
- Course
- Institution
MSIS 3223 Final Exam Review OKSTATE/69 Q’s and A’s
[Show more]
Content preview
MSIS 3223 Final Exam ReviewOKSTATE/69 Q’s and A’s
Variable cost = - -Unit Variable Cost * Quantity Produced (Descriptive Model)
- Total Cost = - -Fixed Cost + Variable Cost * Quantity Produced
Also written as FC + VC * QP = TC
(Descriptive Model)
- Logic suggests that variable cost is the unit variable cost times the
quantity of item produced. - -True
- __________ has an influence on profit by predicting how many units of a
product will be sold. - -Demand
- ______________produced is a decision option typically based on demand. - -
Quantity
- The spreadsheet model for ________ is revenue - variable cost - fixed cost. -
-Profit
Profit = Revenue - Variable Cost - Fixed Cost
- ___________ ____________ allow you to easily evaluate what-if questions by
changing input values and recalculating model outputs - -Spreadsheet
Models
- Systematic approaches to what-if analysis that are available in Excel make
the process easier and more useful. - -True
(Data tables-Scenario Manager-Goal Seek)
- Multiple outputs may be evaluated using _______________. For example,
profit and revenue. - -one way data tables
- _____________can evaluate only one output variable. To evaluate multiple
output variables, you must construct ___________________. - -Two-way tables;
multiple two-way tables
- You will have a spreadsheet with a net income model similar to the one on
p.385 Figure 11.5. Based on this spreadsheet, there will be six multiple
choice questions. (KNOW HOW TO ANSWER) - -- Identify the formula to
calculate net income based on the data values shown on the spreadsheet?
(earnings before taxes - taxes)
, - You will have a spreadsheet with a net income model similar to the one on
p.385 Figure 11.5. Based on this spreadsheet, there will be six multiple
choice questions. (KNOW HOW TO ANSWER) - -- Identify the formula which
would be used to calculate the gross profit using only the data values in the
spreadsheet? (sales - cost of goods sold)
- You will have a spreadsheet with a net income model similar to the one on
p.385 Figure 11.5. Based on this spreadsheet, there will be six multiple
choice questions. (KNOW HOW TO ANSWER) - -- Identify the formula which
would be used to calculate the operating expenses using only the data
values in the spreadsheet?
(sum of administrative, selling, and depreciation expenses)
- You will have a spreadsheet with a net income model similar to the one on
p.385 Figure 11.5. Based on this spreadsheet, there will be six multiple
choice questions. (KNOW HOW TO ANSWER) - -- Identify the formula which
would be used to calculate the net operating income using only the model
values in the spreadsheet?
(gross profit - operating expenses)
- You will have a spreadsheet with a net income model similar to the one on
p.385 Figure 11.5. Based on this spreadsheet, there will be six multiple
choice questions. (KNOW HOW TO ANSWER) - -- Identify the formula which
would be used to calculate earnings before taxes using both the data and
model values in the spreadsheet?
(net operating income - interest expense)
- You will have a spreadsheet with a net income model similar to the one on
p.385 Figure 11.5. Based on this spreadsheet, there will be six multiple
choice questions. (KNOW HOW TO ANSWER) - -- Identify the formula which
would be used to calculate the net income value using information in both
the data and model sections in the spreadsheet?
(sales - cost of goods sold)
- ___________ focus on understanding the future. - -Predictive Models
- ____________________ focus on predicting financial performance, customer
retention, and product sales. - -Practical business models
- _______________ are often used to plan inventory sales. - -Sales levels
- ________________ usually involve multiple time periods. - -Predictive models
- _______________ incorporate the uncertainty element. - -Predictive models
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82191 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now