ADM2341A Quiz1 F2009 V1 Sol (2)

ADM2341A Quiz1 F2009 V1 Sol (2) - Quiz 1 Managerial...

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Quiz 1 Managerial Accounting Fall 2009 Grade /20 ADM2341A V.1 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. Number in brackets is the grade for the item (x) Q.1 ( 10 points) The Snow’s Down Shop is a retailer of snowboards. Information for the shop for sales of 2000 boards in October 2008 is shown below. Per unit /2000 Or Fixed Revenue $800,000 $400 Cost of Goods Sold $300,000 150 Variable Selling Expenses $100,00 0 50 Variable Administrative Expenses $40,000 20 Fixed Selling Expenses $100,000 $100,000 Fixed Administrative Expenses $120,000 120,000 Prepare an income statement in the Contribution format (4) for 2500 boards in November 2008. Per unit For 2500 units Revenue $400 $1,000,000 Cost of Goods Sold (1) 150 375,000 Variable Selling Expenses (1) 50 125,000 Variable Administrative Expenses (1) 20 50,000
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