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MSIS 3223 Final Exam Review OKSTATE/69 Q’s and A’s
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MSIS 3223 Final Exam Review OKSTATE/69 Q’s and A’s
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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
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