29 Jun Question 51. During the sales life cycle, w
Question
51. During the sales life cycle, which is an example of what happens during the introduction phase?
A. Sales and price decline, as do the number of competitors.
B. Sales continue to increase but at a decreasing rate. The number of competitors and product variety decline. C. Sales increase rapidly along with an increase in product variety.
D. Sales rise slowly as customers become aware of the new product or service. Product variety is limited. 52. During the sales life cycle, which is an example of what happens during the growth phase?
A. Sales and price decline, as do the number of competitors.
B. Sales continue to increase but at a decreasing rate. The number of competitors and product variety decline. C. Sales increase rapidly along with an increase in product variety.
D. Sales rise slowly as customers become aware of the new product or service. Product variety is limited. 53. During the sales life cycle, which is an example of what happens during the maturity phase?
A. Sales and price decline, as do the number of competitors.
B. Sales continue to increase but at a decreasing rate. The number of competitors and product variety decline.
C. Sales increase rapidly along with an increase in product variety.
D. Sales rise slowly as customers become aware of the new product or service. Product variety is limited.
54. When comparing Activity-based costing (ABC) and the Theory of Constraints (TOC), the approach each method takes toward profitability analysis is:
A. TOC takes a short-term approach and ABC takes a long-term approach.
B. TOC takes a long-term approach and ABC takes a short-term approach.
C. Both TOC and ABC take a short-term approach.
D. Both TOC and ABC take a long-term approach.
55. Place the five steps in implementing a target costing approach in the proper order: 1 – Determine desired profit
2 – Use kaizen costing and operational control to reduce costs 3 – Determine the market price
4 – Use value engineering to identify ways to reduce product costs 5 – Calculate the target cost at market price less desired profit
A. 3,2,1,4,5.
B. 2,5,4,1,3.
C. 4,5,1,3,2.
D. 3,1,5,4,2.
E. 5,3,2,1,4.
56. Quality Chairs Inc. (QC) manufactures chairs for industrial use. Laura Winters, the Vice President for Marketing at QC, concluded from market analysis that sales were dwindling for QC’s standard three-foot chair due to aggressive pricing by competitors. QC’s chairs sold for $550 whereas the competition’s comparable chair was selling for $495. Winters determined that a price drop to $495 would be necessary to regain market share and annual sales of 10,000 chairs.
Cost data based on sales of 10,000 chairs:
The current cost per unit is:
A. $250.
B. $300.
C. $400.
D. $450.
E. $475.
57. Quality Chairs Inc. (QC) manufactures chairs for industrial use. Laura Winters, the Vice President for Marketing at QC, concluded from market analysis that sales were dwindling for QC’s standard three-foot chair due to aggressive pricing by competitors. QC’s chairs sold for $550 whereas the competition’s comparable chair was selling for $495. Winters determined that a price drop to $495 would be necessary to regain market share and annual sales of 10,000 chairs.
Cost data based on sales of 10,000 chairs:
The current profit per unit is:
A. $250.
B. $300.
C. $400.
D. $450.
E. $475.
58. Quality Chairs Inc. (QC) manufactures chairs for industrial use. Laura Winters, the Vice President for Marketing at QC, concluded from market analysis that sales were dwindling for QC’s standard three-foot chair due to aggressive pricing by competitors. QC’s chairs sold for $550 whereas the competition’s comparable chair was selling for $495. Winters determined that a price drop to $495 would be necessary to regain market share and annual sales of 10,000 chairs.
Cost data based on sales of 10,000 chairs:
If the profit per unit is maintained, the target cost per unit is:
A. $105.
B. $195.
C. $205.
D. $300.
E. $250.
59. In order to reduce costs so as to reach the desired target cost, Quality Chairs should also focus on reducing the cost of:
A. Direct materials.
B. Direct labor.
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