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ACCT 3130 Chapter 13

Authored by J Nope

Business

KG

Used 3+ times

ACCT 3130 Chapter 13
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27 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 5 pts

___ influence price through their effect on the demand for a product or service, based on factors such as product features & quality

2.

FILL IN THE BLANK QUESTION

1 min • 5 pts

___ influence price through their technologies, plant capacities, and operating strategies which affect their costs.

3.

FILL IN THE BLANK QUESTION

1 min • 5 pts

___ influence prices because they affect supply. The lower the ___, the greater the quantity a firm is willing to supply.

4.

FILL IN THE BLANK QUESTION

1 min • 5 pts

___ pricing decisions have a time horizon of less than one year.

5.

MULTIPLE SELECT QUESTION

45 sec • 5 pts

Pricing a one-time-only special order.

Short-Run Pricing

Luring customer in the door

Cost based on VC & FC

Cost based on VC

Profit = 0

6.

MULTIPLE SELECT QUESTION

45 sec • 5 pts

A strategic decision designed to build relationships with customers.

Short-Run Pricing

Long-Run Pricing

Stable & Predictable Prices

Costing Based on VC & FC

Where Profit is Not 0

7.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

The first step of implementing target pricing & target costing:

Develop a product that satisfies the needs of potential customers

Choose a target price

Derive a target cost/unit by subtracting target OI/unit from the target price

Perform cost analysis

Perform value engineering to achieve target cost

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