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Quiz_2_Answer_Fall_2005

Quiz_2_Answer_Fall_2005 - Management 201 Management...

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Management 201 – Management Accounting Quiz # 2 November 11, 2005 Name:_________________________ PUID # _______________________ Please show work when applicable, and circle or underline your final answer otherwise you will not get credit. (#) denotes point value The following information refers to Question 1 and 2. The Huron Chalk Company manufactures blackboard chalk for educational uses. The company’s product is sold by the box. During its first year of operations, Huron incurred the following costs in the production of 300,000 boxes of chalks: Direct Material $365,000 Direct Labor $275,000 Variable Manufacturing Overhead $320,000 Fixed Manufacturing Overhead $600,000 In the sale of 280,000 boxes, the following costs were incurred: Sales Commission per box $1.50 Fixed Selling and Administrative cost $472,000 1. In year 1, its first year of operation, what would be the cost per box of Huron ending finished goods inventory under the Variable Costing Method? (2 points) cost per box $3.20 DM $365,000 DL $275,000 VOH $320,000 $960,000 Box produced 300,000 Cost per box $3.20
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