Test _1 - Fall 2008 - University of Toronto Joseph L Rotman...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
University of Toronto Joseph L. Rotman School of Management October 27, 2008 RSM222H1F Managerial Accounting Duration: 2 hours Aids allowed: Non-programmable calculator Instructions: Please print your name and student number in the spaces provided below . There are 14 multiple choice and 3 problems. Please use the space provided below for your answer to the multiple choice questions. You must use a pen. Do not use WHITEOUT . Clearly show all computations in the test paper in order to obtain full marks for the problems. Tests written in pencil will not be considered for remarking. ------------------------------------------------ --------------------------------------------- Student name (LAST NAME FIRST) Student number Marks: Answers to the Multiple Choice Questions Part A (14 marks) 1.______ 8.______ Part B (20 marks) 2.______ 9.______ Part C (10 marks) 3.______ 10.______ Part D (10 marks) 4.______ 11.______ Total (54 marks) 5.______ 12.______ 6.______ 13.______ 7.______ 14.______
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Part A ( 14 marks – 1 mark each) 1. The margin of safety in the Flaherty Company is $24,000. If the company's sales are $120,000 and its variable expenses are $80,000, what must its fixed expenses be? a) $ 8,000. b) $32,000. c) $24,000. d) $16,000. 2. Gerber Company is planning to sell 200,000 units for $2.00 a unit and will just break even at this level of sales. The contribution margin ratio is 25%. What are the company's fixed expenses? 3. Strap Company uses the weighted-average method in its process costing system. The company has only one processing department. The ending work-in-process inventory consists of 10,000 units, 60% complete with respect to materials. The total dollar value of this inventory is $38,000. The costs per equivalent unit are $5.00 for materials and $4.00 for conversion costs for the period. With respect to conversion costs, what is the ending work-in-process inventory?
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern