AEM323prelim22006ANSWERKEY_version1_1__Solutions

- Test Version 1 AEM323 Managerial Accounting Spring 2006 – Prelim#2 Name TA Section Sec Day/Time SEC 01 W 7:30-9:25 SEC 02 W 7:30-9:25 SEC 03 R

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Unformatted text preview: Test #:_________ Version # 1 AEM323 Managerial Accounting Spring 2006 – Prelim #2 March 30, 2006 Name: TA: Section: Sec # Day/Time SEC 01 W 7:30-9:25 SEC 02 W 7:30-9:25 SEC 03 R 10:10-12:05 SEC 04 R 10:10-12:05 SEC 05 R 12:20-2:15 SEC 06 R 12:20-2:15 WN 245 SEC 07 R 2:30-4:25 PS 143 SEC 08 R 2:30-4:25 WN 245 SEC 09 F 10:10-12:05 PS G37 SEC 11 F 12:20-2:15 WN 201 SEC 12 F 12:20-2:15 WN 360 General Instructions : 1. This is a 100 point exam. You have approximately 120 minutes. Budget your time accordingly. This includes time required to transfer your answers to the optical scanning sheet. No extra time will be allowed. 2. YOU MUST USE A #2 PENCIL ON THE OPTICAL SCANNING SHEET. The scanner does NOT read blue or black ink. 3. The only materials to be used while taking this exam are writing materials and non-financial, non-graphing, non-programmable calculators. 4. It is an act of academic dishonesty to give or receive information about this examination either before or during the examination. 5. Your exam has 15 pages. It is your responsibility to make sure that you have all pages to the exam. 6. There is no partial credit on question 1. You must show your work on the remaining questions to be eligible for credit (partial or full). Question 1 – Multiple Choice 60 points Question 2 – 14 points Question 3 – 14 points Page 1 of 22 Test #:_________ Question 4 – 12 points Total 100 points ______ Page 2 of 22 Test #:_________ Question 1 – Multiple Choice (60 points) Select the best answer choice. Each question is worth 2 points. There is no partial credit. Please be sure to fill in your answers on the optical scanning sheet using a #2 pencil. 1. Stott Company requires one dockhand for every 500 packages loaded daily. The wages for these dockhands would be classified as: A) variable. B) mixed. C) step-variable. D) curvilinear. 2. In describing the cost equation, Y = a + bX, "a" is: A) the dependent variable, cost. B) the independent variable, the level of activity. C) the total fixed costs . D) the variable cost per unit of activity. 3. A disadvantage of the high-low method of cost analysis is that: A) it cannot be used when there are a very large number of observations. B) it is too time consuming to apply. C) it uses two extreme data points, which may not be representative of normal conditions. D) it relies totally on the judgment of the person performing the cost analysis. 4. An analysis of the processing costs of the billing department of Craig Company revealed that total (variable and fixed) processing costs were $36,800 at an activity level of 16,000 accounts. When only 10,000 accounts were processed, the average processing cost per unit was $2.90. Assuming that this activity is within the relevant range, at a budgeted level of 12,000 accounts processed: A) processing costs are expected to total $34,800....
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This homework help was uploaded on 02/19/2009 for the course AEM 3230 taught by Professor Little,j.e. during the Spring '08 term at Cornell University (Engineering School).

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- Test Version 1 AEM323 Managerial Accounting Spring 2006 – Prelim#2 Name TA Section Sec Day/Time SEC 01 W 7:30-9:25 SEC 02 W 7:30-9:25 SEC 03 R

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