Fall 2010 Practice Exam 1 parrt 2 - Spring 2009 Exam 2

Fall 2010 Practice Exam 1 parrt 2 - Spring 2009 Exam 2 -...

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ACC 312 Fundamentals of Managerial Accounting Midterm Exam 2 Spring 2009 Test Form A Name Instructor Class Start Time DO NOT OPEN until given instructions to do so. Instructions 1. Confirm that you have 12 numbered pages (not including this page), printed front and back. 2. Answers to Multiple-Choice questions should be recorded on the Scantron. A. On your Scantron answer sheet, write and bubble in your name, UTEID, and the “Test Form” letter noted above. B. Use a #2 pencil only to mark your responses on your Scantron answer sheet. Mark clearly and erase completely as needed. Only multiple choice answers marked on your Scantron answer sheet will be graded. 3. Answers to Problems should be recorded on the exam where indicated. Show your work in the space provided. Scratch paper is available from the proctor but only calculations recorded on the exam itself will be considered for partial credit. 4. Cell phones, books, notes, PDAs and programmable calculators are NOT allowed at your desk during the exam. 5. In the interest of minimizing disruptions and making sure all students have exactly the same information on the exam, we will answer only the following kinds of questions during the exam: a. Vocabulary questions relating to non-class-specific words; b. Questions about a possible mistake in the exam. In the latter case, if a mistake is confirmed, we will answer by making an announcement to the whole class. If no announcement is made in a short period of time, you may assume that the problem is correct as written. 6. Bring your entire exam, scratch paper, Scantron answer sheet, and student ID to the front of the room when you have finished. 7. You are reminded of the University’s honor policy which requires you do your own work and not give or receive assistance on this exam.
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SECTION I – MULTIPLE CHOICE (50 points – 25 questions, 2 points each) -- Please choose the ONE BEST answer for each question and record your answer on the Scantron sheet. 1. What type of cost exhibits the behavior that follows? A . Variable cost. B. Fixed cost. C. Semi variable cost. D. Discretionary fixed cost. E. Step-fixed cost. 2. Atlanta, Inc., which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the company's utilities cost. The company's relevant range of activity varies from a low of 600 machine hours to a high of 1,100 machine hours, with the following data being available for the first six months of the year: The variable utilities cost per machine hour is: A. $0.18. B. $4.50. C. $5.00. D. $5.50. E. an amount other than those listed above.
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3. Sales total $200,000 when variable costs total $150,000 and fixed costs total $30,000. The breakeven point in sales dollars is: A. $200,000 B. $120,000 C. $40,000 D. $30,000 E. None of the above 4. The breakeven point decreases if: A. the variable cost per unit increases B. total fixed costs decrease C. the contribution margin per unit decreases D. the selling price per unit decreases
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This note was uploaded on 12/17/2010 for the course ACC 02320 taught by Professor Devidal during the Fall '09 term at University of Texas at Austin.

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Fall 2010 Practice Exam 1 parrt 2 - Spring 2009 Exam 2 -...

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