ADM2341 Quiz1 W2009 - ADM 2341 Quiz1 Winter 2009 Page 1 of...

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Unformatted text preview: ADM 2341 Quiz1 Winter 2009 Page 1 of 2 Quiz 1 Managerial Accounting Winter 2009 Grade /20 ADM2341 Professor Eden STUDENT NAME: ................................................................... STUDENT NUMBER: ................................................................ Instructions : Answer all questions in this booklet. Please limit your answer to the space provided. The use of standard abbreviations (O/H for Overhead and DM for direct material is quite acceptable.. Please do not ask the invigilators questions. Make reasonable assumptions where necessary. .Language dictionaries are allowed. Q.1(10 points) The following revenues and expenses were incurred for two months of 2008 for the Melrose Company, wholesalers of snowboards. November December VC, FC or MC? Sales in units Sales revenues Cost of goods sold Gross margin Operating Expenses Advertising Commissions Selling expenses Operating income 14,000 $784,000 (140,000) $644,000 (70,000) (168,000) (28,000 $ 378,000 11,000 $616,000 (110,000) $506,000 (70,000) (132,000) (24,220) $279,780 VC REQUIRED 1. Identify the above expenses as either variable, fixed, or mixed, use the space provided COGS is shown as VC. Prepare a contribution income statement for the month of January 2009 if the expected sales are 12,000 units and the price and cost structure is the same as November and December 2008. ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ...............................................................................................................................................................
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This note was uploaded on 02/03/2010 for the course ADM ADM2341 taught by Professor Edden during the Winter '09 term at University of Ottawa.

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ADM2341 Quiz1 W2009 - ADM 2341 Quiz1 Winter 2009 Page 1 of...

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