2510T.W'08.Quiz#5.Shujun Ding Solution

2510T.W'08.Quiz#5.Shujun Ding Solution - Name: Winter 2008...

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Name: Student Number: Winter 2008 York University Atkinson Faculty of Liberal and Professional Studies School of Administrative Studies ADMS # 2510 (Section T) Introduction to Management Accounting Quiz # 5 – March 20, 2008 Instructor: Shujun Ding Instructions 1. This is a closed book examination and no collaboration is allowed. 2. There are a total of 10 marks. 3. Write your name and student number in the designated area at the top of each page. 4. You may write in pencil or pen. 5. You have an hour, no additional time provided for lateness. 6. If you leave early, please respect your fellow students by leaving quietly. 7. Place photo identification on your desk at the beginning of the quiz/examination to facilitate verification. 8. You must sign in. 1
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Name: Student Number: Question 1 (2.5 marks) Cash Budget Clay Company has projected sales and production in units for the second quarter of the coming year as follows: April May June Sales 50,000 40,000 60,000 Production 60,000 50,000 50,000 Cash-related production costs are budgeted at $5 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $100,000 per month, and will be paid in cash. The accounts payable balance on March 31 totals $190,000, which will be paid in April. All units are sold on account for $14 each. Cash collections from sales are budgeted at
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This note was uploaded on 01/30/2011 for the course ADMS 2511 taught by Professor Jiu during the Fall '09 term at York University.

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2510T.W'08.Quiz#5.Shujun Ding Solution - Name: Winter 2008...

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