Cost accounting analyzes a business's cost to help managers ______.A．expend moneyB．control expensesC．pay the debtsD．make budget

A negative cost variance and positive schedule variance means:

A The project is under budget and ahead of schedule

B The project is over budget and behind schedule

C The project is over budget and ahead of schedule

D The project will be overrun but ahead of schedule at completion

114 The Cost Performance Index is computed as:

A. budget cost of work performed divided by actual cost of work performed

B. budget cost of work performed minus actual cost of work performed

C. budget cost of work performed minus budget cost of work scheduled

D. budget cost of work scheduled divided by budget cost of work performed

E. actual cost of work scheduled divided by budget cost of work performed

A.This process assigns cost estimates to project activities including risks and contingency plans.

B.The cost baseline will be used to measure variances and future project performance.

C.This process assigns cost estimates for expected future period operating costs.

D.The cost baseline is the expected cost for the project.

● The Work Breakdown Structure (WBS) is the basis for communicating:

A Project scope, cost control, schedule, quality

B Project objectives, dependencies, plan, cost control

C Project scope, schedule, staffing, cost control

D Project scope, quality, schedule, dependencies

E Project budget, schedule, risk factors, work assignments.

(b) Assuming that the cost of equity and cost of debt do not alter, estimate the effect of the share repurchase on the company’s cost of capital and value. (5 marks)

The earned value technique is a commonly used method of performance measurement．It integrates project scope，schedule，and cost measures to help the project management team assess project performance．If a project’s Cost Performance Index(CPI＝EV/AC)value less than 1．0，it means that（ ）。 A．the cost savings for work completed B．the project is ahead of its planned schedule C．the cost overrun for work completed D．1ess work was completed than was planned

The earned value technique is a commonlyused method of performance measurement． It integrates project scope, cost, andschedule measures to help the project management team assess projectperformance．If a project’s Schedule Performance Index（SPI=EV/PV） value less than 1.0, itmeans that （74）．

A.the project is ahead of its planned schedule

B.less work was completed than was planned

C.the cost overrun for work completed

D.the cost under-run of performance to date

Activity Based Costing(ABC) is an(66)technique that allows an organization to determine the actual(67)associated with each product and service produced by the organization without regard to the organizational structure. This chapter explains some of the uses and benefits of Activity Based Costing. We use IDEFO(68)modeling in conjunction with ABC to enable more effective business(69) design decisions.In order to achieve the major goals of business process improvement, process simplifica- tion and improvement, FAA managers need to fully understand the cost, time, and quality of activities performed by employees or machines throughout an entire organization. ABC methods enable(70) to cost out measurements to business simplification and process improvement.

A．computing

B．campaigning

C．programming

D．accounting

65 Which of the following is referred to as sunk cost:

A. management reserve

B. contingency fund

C. cost budgeted for construction under water

D. expended funds over which there is no further control

E. forecasted budget over-runs

72 Project trade-offs vary between

A. risk, cost and schedule.

B. direct cost, indirect cost, and resource availability

C. quality, schedule and time

D. cost, quality and schedule

E. contract terms, scope and budget

96 A negative cost variance and positive schedule variance means:

A. The project is under budget and ahead of schedule

B. The project is over budget and behind schedule

C. The project is over budget and ahead of schedule

D. The project will be overrun but ahead of schedule at completion

● In order to achieve the major goals of business process improvement, process simplification and improvement, FAA managers need to fully understand the cost, time, and quality of activities performed by employees or machines throughout an entire organization. ABC methods enable （） to cost out measurements to business simplification and process improvement. （） A. computers B. managers C. clients D. consumers

(b) The CEO of Oceania National Airways (ONA) has already strongly rejected the re-positioning of ONA as a ‘no

frills’ low-cost budget airline.

(i) Explain the key features of a ‘no frills’ low-cost strategy. (4 marks)

A It will cost about eight percent more than initially projected ;

B We will need another four thousand dollars to cover the cost ;

C It's going to cost about five thousand more to complete the first order

（ ）is the approved version of the time-phased project budget，excluding any management reserves，which can only be changed through formal change control precedures and is used as a basis for comparison to actual results.

A.The control accounts

B.Funding requirement

C.The cost estimates

D.The cost baseline