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54. Harrison Company determines that an opportunity cost of an alternate course of action is relevant to a make-or- buy decision. Which statement is true of the opportunity cost? a) should be added to the "buy" costs b) should be subtracted from the "make" costs c) should be added to the "make" costs d) should be ignored if it does not involve a cash outlay 55. Which statement is true concerning the decision rule on whether to make or buy? a) The company should buy if the cost of buying is less than the cost of producing. b) The company should buy if the incremental revenue exceeds the incremental costs. c) The company should buy as long as total revenue exceeds present revenues. d) The company should buy assuming no additional fixed costs are incurred. 56. Which one of the following does not affect a make-or-buy decision? a) variable manufacturing costs b) opportunity cost c) incremental revenue d) direct labour 57. What non-financial factors should be considered when making a decision about buying rather than making a component of a company's product? a) Is the quality of the purchased component acceptable? b) Will the outside supplier increase prices significantly in the future? c) Will the supplier deliver on time? d) all of the above 58. Litto Fray's produces corn chips. The cost of one batch is below: Direct materials $18.00 Direct labour 13.00 Variable overhead 12.00 Fixed overhead 14.00 An outside supplier has offered to produce the corn chips for $26 per batch. How much will Litto Fray save if it accepts the offer? a) $2.00 per batch b) $17.00 per batch c) $31.00 per batch d) $6.00 per batch 59. Meow Cat Toys utilizes Lincoln Fabrics by purchasing the fabric to cover toy mice for its mouse toy division. As it pertains to Lincoln Fabrics, what decision situation does this create? a) make-or-buy b) sell or process further c) relevant costing d) budgeting