MidtermExamFall2004

MidtermExamFall2004 - Managerial Accounting COMM 305 &...

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Managerial Accounting COMM 305 & ACCO 240 Midterm Exam- Fall 2004 Student Name ______________________ ID#_______________ COURSES: COMM 305/2 SECTION A SECTION C SECTION AA SECTION D SECTION B SECTION F SECTION BB SECTION G SECTION X ACCO 240/2 SECTION AA EXAMINATION: MIDTERM EXAM DATE: SATURDAY October 23, 2004 TIME: 09:30-12:30 # OF PAGES: 9 (incl. cover page) INSTRUCTORS: Professor G. Chan Professor T. Nowak Professor D. Henri Professor M. Rossin Professor P. Hilal Professor Y. Shi Professor S. Mustafa Professor J. Segovia MATERIALS ALLOWED: 1) ENGLISH LANGUAGE / OTHER LANGUAGE DICTIONARY 2) SILENT CORDLESS CALCULATOR - MAY NOT BE SHARED SPECIAL INSTRUCTIONS: READ THE INSTRUCTIONS BELOW INSTRUCTIONS 1. ANSWER ALL QUESTIONS IN THE EXAMINATION BOOKLET THAT HAS BEEN PROVIDED TO YOU. 2. BE SURE TO RETURN THE EXAM ALONG WITH THE EXAMINATION BOOKLET AT THE END OF THE EXAM. 3. ANY STUDENT WHO FAILS TO RETURN THE ENTIRE EXAM ALONG WITH THE EXAMINATION BOOKLET WILL BE REPORTED FOR CHEATING. 4. DO NOT TEAR YOUR EXAM OR YOUR EXAMITNTION BOOKLET. 5. BE SURE TO PUT YOUR NAME AND STUDENT I.D. NUMBER ON THE EXAM AND THE EXAMINATION BOOKLET . 6. START EACH QUESTION ON A NEW PAGE IN THE EXAMINATION BOOKLET. 7. IT IS VERY IMPORTANT TO WRITE THE NAME OF YOUR INSTRUCTOR AND SECTION LETTER/NUMBER ON YOUR EXAMINATION BOOKLET(S). Good Luck! 1
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COMM 305 & ACCO 240 Midterm Exam- Fall 2004 Question 1 (13 Multiple Choice Questions) (18 marks) Do not answer on the EXAM ; write your answers in the EXAMINATION BOOKLET. 1. Upon which of the following does managerial accounting place considerable weight? A) Generally accepted accounting principles. B) The financial history of the entity. C) Ensuring that all transactions are properly recorded. D) Detailed segment reports about departments, products, and customers. (1 mark) 2. Selected information about Buehler Corporation's operations at high and at low levels of activity follow: Using the high-low method, what is the cost formula for manufacturing overhead? A) $50,000 per period plus $10 per unit. B) $50,000 per period plus $21 per unit. C) $50,000 per period plus $22 per unit. D) $347,000 per period plus $0.10 per unit. (2 marks) 3. Expense A is a fixed cost; expense B is a variable cost. During the current year, the activity level has increased but is still within the relevant range. In terms of cost per unit of activity, you would expect which of the following statements to be true? A) Expense A has remained unchanged. B) Expense B has decreased. C) Expense A has decreased. D) Expense B has increased. (1 mark) 4. For the current year, Paxman Company incurred $150,000 in actual manufacturing overhead cost. The Manufacturing Overhead account showed that overhead was overapplied in the amount of $6,000 for the year. If the predetermined overhead rate was $8.00 per direct labour hour, how many hours were worked during the year? A) 17,750 hours.
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This note was uploaded on 04/01/2010 for the course JMSB comm 305 taught by Professor Marivot during the Winter '10 term at Concordia Canada.

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MidtermExamFall2004 - Managerial Accounting COMM 305 &...

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