ButovaS-Exam2

ButovaS-Exam2 - Exam 2 Spring 2009 Name Svetlana Butova...

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1087 Exam 2 Spring 2009 Name Svetlana Butova Problem 1 20 points Date 3/31/2009 (a) Zook Company CVP Income Statement For the Year Ending December 31, 2008 1 Sales (70 x 100,000) 7,000,000 1 2 Variable expenses 2 3 Cost of goods sold ( $26 X 100,000 ) 2,600,000 3 4 Selling expenses ($7,000,000 X 10% ) 700,000 4 5 Administrative expenses ( $2.50 X 100,000 ) 250,000 5 6 Total variable expenses 3,550,000 6 7 Contribution margin 3,450,000.00 7 8 Fixed expenses 8 9 Cost of goods sold 500,000 9 10 Selling expenses 360,000 10 11 Administrative expenses 290,000 11 12 Total fixed expenses 1,150,000 12 13 Net income 2,300,000 13 14 14 15 15 SHOW ALL COMPUTATIONS 1 (b) $70 - $26 = $44(per unit) 1 2 2 3 3 4 4 5 c) $44 / $70 = 63% (rounded) 5 6 6 7 7 8 8 9 (d) $70X = $26X + $1,150,000 9 10 $44X = $1,150,000 26,136 X $70 = $1,829,520 10 11 X = 26,136 units (rounded) 11 12 12 13 (e) $7,000,000 - $1,829,520 = $5,171,000 13 14 14 15 15 16 (f) $5,171,000 / $7,000,000 = 74% (rounded) 16 17 17 18 18 19 (g) ($1,150,000 + $1,500,000) / $44 = 60,227 (rounded) 19
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806 Name Problem 2 Svetlana Butova 10 points (There may be more than one X for each line.) Direct Direct Mfg. Conversion Period Costs Materials Labor Overhead Costs 1 Advertising x 2 Raw materials used directly in product x 3 Depreciation on sales department equipmnt x 4 Wages for factory maintenance workers x 5 Office supplies x 6 Property taxes on factory building x 7 Indirect materials used in production x 8 Assembly line wages x 9 Sales commissions x 10 Factory utilities x 11 Insurance on factory building x 12 Depreciation on factory equipment x 14 Factory manager's salary x Place an "X" in all spaces that apply.
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974 Name Svetlana Butova Problem 3a 12 points Date 3/31/2009 3a. Loggia Manufactuing Company Cost of Goods Manufactured Schedule For The Year Ended December 31, 2008 1 Work in process, January 1 60,000 2 Direct materials 3 Raw materials inventory, January 1 40,000 4 Raw materials purchases 36,000 5 Total raw materials available for use 76,000 6 Less: raw materials inventory, Dec. 31 28,000 7 Direct materials used 48,000 8 Direct labor
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This note was uploaded on 03/11/2011 for the course ACC 101 taught by Professor Corolinsky during the Spring '11 term at SUNY Albany.

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ButovaS-Exam2 - Exam 2 Spring 2009 Name Svetlana Butova...

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