MSIS 3223 Final Exam Review
OKSTATE Questions & Answers 100%
Accurate!!
Variable cost = - ANSWERUnit Variable Cost * Quantity Produced (Descriptive Model)
Total Cost = - ANSWERFixed 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. -
ANSWERTrue
__________ has an influence on profit by predicting how many units of a product will be sold. -
ANSWERDemand
______________produced is a decision option typically based on demand. - ANSWERQuantity
The spreadsheet model for ________ is revenue - variable cost - fixed cost. - ANSWERProfit
Profit = Revenue - Variable Cost - Fixed Cost
___________ ____________ allow you to easily evaluate what-if questions by changing input values
and recalculating model outputs - ANSWERSpreadsheet Models
Systematic approaches to what-if analysis that are available in Excel make the process easier and
more useful. - ANSWERTrue
(Data tables-Scenario Manager-Goal Seek)
, Multiple outputs may be evaluated using _______________. For example, profit and revenue. -
ANSWERone way data tables
_____________can evaluate only one output variable. To evaluate multiple output variables, you
must construct ___________________. - ANSWERTwo-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) -
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) -
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) -
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) -
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) -
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) -
OKSTATE Questions & Answers 100%
Accurate!!
Variable cost = - ANSWERUnit Variable Cost * Quantity Produced (Descriptive Model)
Total Cost = - ANSWERFixed 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. -
ANSWERTrue
__________ has an influence on profit by predicting how many units of a product will be sold. -
ANSWERDemand
______________produced is a decision option typically based on demand. - ANSWERQuantity
The spreadsheet model for ________ is revenue - variable cost - fixed cost. - ANSWERProfit
Profit = Revenue - Variable Cost - Fixed Cost
___________ ____________ allow you to easily evaluate what-if questions by changing input values
and recalculating model outputs - ANSWERSpreadsheet Models
Systematic approaches to what-if analysis that are available in Excel make the process easier and
more useful. - ANSWERTrue
(Data tables-Scenario Manager-Goal Seek)
, Multiple outputs may be evaluated using _______________. For example, profit and revenue. -
ANSWERone way data tables
_____________can evaluate only one output variable. To evaluate multiple output variables, you
must construct ___________________. - ANSWERTwo-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) -
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) -
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) -
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) -
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) -
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) -
