ACC312_Spr08_Exam1_SOLUTION

ACC312_Spr08_Exam1_SOLUTION - Spring 2008 ACC 312 Exam 1...

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Unformatted text preview: Spring 2008 ACC 312 Exam 1 Combined Forms Answer Key FormA FormB FormC Question Answer FormA # Answer FormA # Answer 1 C 5 B 4 C 2 C 9 D 14 A 3 C 4 C 20 B 4 C 19 C 18 C 5 B 3 C 5 B 6 E 17 A 11 B 7 E 1 C 12 B 8 C 15 B 13 D 9 D 16 D 19 C 10 E 2 C 9 D 11 B 6 E 3 C 12 B 7 E 10 E 13 D 8 C 1 C 14 A 20 B 17 A 15 B 11 B 6 E 16 D 12 B 7 E 17 A 13 D 8 C 18 C 14 A 2 C 19 C 10 E 15 B 20 B 18 C 16 D Fundamentals of Managerial Accounting ACC 312 Spring 2008 Exam I Test Form A Name Instructor Section DO NOT OPEN until given instructions to do so. Instructions 1. Confirm that you have 14 numbered pages (not including this page). 2. Answers to Multiple-Choice questions should be recorded on the Scantron. A. On your Scantron answer sheet, write and bubble in your name, UTEID, and the Test Form letter noted above. B. Use a #2 pencil only to mark your responses on your Scantron answer sheet. Mark clearly and erase completely as needed. Only multiple choice answers marked on your Scantron answer sheet will be graded. 3. Answers to Problems should be recorded on the exam and your answer should be circled for all calculations. 4. Cell phones, PDAs and calculators capable of storing text are NOT allowed at your desk during the exam. 5. Bring your entire exam, Scantron answer sheet, and student ID to the front of the room when you have finished. 6. You are reminded of the Universitys honor policy which requires you do your own work and not give or receive assistance on this exam. ACC 312 Midterm #1 Test Form A - Page 1 Spring 2008 SECTION I - MULTIPLE CHOICE (50 points 20 questions, 2.5 points each) - Please choose the ONE BEST answer for each question and record your answer on the Scantron answer sheet. 1. Airstream builds recreational motor homes. All of the following activities add value to the finished product except : A. installation of carpet. B. assembly of the frame to the chassis. C. storage of the vehicle in the sales area. D. addition of exterior lights. E. final painting and polishing. 2. Which one of the following is an indirect cost? A. The cost of denim in a jeans factory. B. The cost of mixing labor in a factory that makes over-the counter pain relievers. C. The cost of repairing the parking lot at a perfume factory. D. The cost of bottles in a shampoo factory. E. All of the above. 3. Total costs are $144,400 when 12,000 units are produced; of this amount, variable costs are $74,400. What are the total costs when 15,000 units are produced? A. $93,000 B. $70,000 C. $163,000 D. $180,500 E. $153,600 4. Activity-based costing systems: A. use a single, volume-based cost driver. B. assign overhead to products based on the products' relative usage of direct labor....
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ACC312_Spr08_Exam1_SOLUTION - Spring 2008 ACC 312 Exam 1...

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