RelativeResourceManager - Accounting 285 Exam I Fall 2007...

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Accounting 285 – Exam I – Fall 2007 Name (please print) Section (circle one) Whittle MWF at 11:00 Whittle MWF at 12;10 Duffy TR at 12:40 Exam Instructions: 1. Use a number 2 pencil to complete the answer sheet. You may use a FOUR FUNCTION calculator or a TI BA II+ . NO communication devices are permitted (cell phones, computers, PDAs.) You may keep your sheet of notes and I would advise you to save it for the final. 2. Be sure that the pre-printed number on your answer sheet corresponds to the pre- printed number on your exam. Then, write your name on both the exam and the answer sheet. On the answer sheet, you need to fill in your name and your full (nine digit) student identification number. If you do not do so, your score on WebCT will be delayed. 3. When multiple questions use the same common information, answer each question independently of the other questions using the information that is given prior to the first question. 4. You will have 2 hours (120 minutes) to complete the exam. The exam ends at 10:00 PM. 5. There are 26 questions on the exam. Make sure you have 26 questions and that you answer them all. Your grade will be figured out of 25, as one question is “extra credit”. 6. Select the best answer to each question and mark it on your answer sheet. We advise that you also circle the answer on your exam booklet for future reference or in case you have problems with your answer sheet. 7. When you finish the exam, please bring it to the front of the room with your answer sheet and your photo ID, along with the rest of your personal belongings. Plan to leave the room without returning to your seat.
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Fall 2007 Exam I Accounting 285 Use the following information for the next five questions Cinnamon Candy Company makes Redhots as its only product and has the following information available: Selling Price $2.00 per bag Variable cost $1.20 per bag Annual fixed cost $720,000 1. How many bags must be sold each year to break even? a. 360,000 b. 600,000 c. 900,000 d. 1,440,000 2. What will profit be if 2,000,000 bags are sold? a. $4,000,000 b. $1,600,000 c. $880,000 d. $3,280,000 3. What dollar sales are necessary to earn a profit of $170,000? a. $1,125,000 b. $445,000 c. $890,000 d. $2,225,000 4. How much would profit increase if another 100,000 bags were sold? a.
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RelativeResourceManager - Accounting 285 Exam I Fall 2007...

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