GNBExam05

GNBExam05 - GNB 12e Practice Exam Chapter 5 1. The...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
GNB 12e Practice Exam – Chapter 5 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? Sales $1,400,000 Variable expenses: Variable selling expense $140,000 Cost of goods sold 640,000 Variable administrative expenses 60,000 Total variable expenses 840,000 Contribution margin $560,000 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
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 07/15/2010 for the course ECON 137A taught by Professor Watson during the Fall '08 term at UCSB.

Page1 / 2

GNBExam05 - GNB 12e Practice Exam Chapter 5 1. The...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online