pretest_exam5 - GNB 12e Practice Exam Chapter 5 Print these...

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GNB 12e Practice Exam – Chapter 5 Print these pages. Answer each of the following questions, explaining your answers or showing your work, as appropriate, and then compare your solutions to those provided at the end of the practice exam. 1. The following information has been provided by the Pond, Inc. for the third quarter of the year: Sales $1,400,000 Cost of goods sold 640,000 Fixed administrative expenses 220,000 Variable administrative expenses 60,000 Fixed selling expenses 100,000 Variable selling expense 140,000 What was the company’s contribution margin for the quarter? 2. Lexington Company has provided the following data for the fourth quarter of the most recent year: Sales 1,200,000 Direct labor $ 290,000 Direct materials 206,000 Variable manufacturing overhead 164,000 Fixed selling expense 185,000 Fixed administrative expense 178,000 Variable administrative expense 192,000 Fixed manufacturing overhead 22,000 Variable selling expense 199,000 Assume that direct labor is a variable cost and that there were no beginning or ending inventories. What was the company’s total contribution margin for the quarter?
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3. An analysis of past janitorial costs indicates that janitorial cost is an average of $0.80 per
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This note was uploaded on 11/04/2009 for the course SBA ACC 2302 taught by Professor Ahmedbashir during the Spring '09 term at Al Akhawayn University.

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pretest_exam5 - GNB 12e Practice Exam Chapter 5 Print these...

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