Quiz_2_Fall_2005 - Please note that Question 9 on this quiz is NOT included in the syllabus for Quiz 2 this semester It IS however included for the

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Management 201 – Management Accounting Quiz # 2 November 11, 2005 Name:_________________________ PUID # _______________________ Please try to do this quiz for practice. Solutions will be posted one week prior to this semester’s Quiz2. Please note that Question 9 on this quiz is NOT included in the syllabus for Quiz 2 this semester. It IS, however, included for the second Midterm exam this semester. 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 2. In year 1, its first year of operation, what would be the cost per box of Huron ending finished goods inventory under the Absorption Costing Method? (2 points) cost per box
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3. When inventory increases, which means ending inventory of current period is higher than the previous period, order three costing methods (Throughput costing, Variable costing, Absorption costing) which has the highest net income cost to the lowest net income in current period. (1 point) Rank 1 Rank 2 Rank 3 Following information refers to Question 4 and 5. Great Northern Ski Company, based on sales of 60,000 units, has the following cost and
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This note was uploaded on 03/18/2011 for the course MGMT 201 taught by Professor Rowe during the Spring '08 term at Purdue University-West Lafayette.

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Quiz_2_Fall_2005 - Please note that Question 9 on this quiz is NOT included in the syllabus for Quiz 2 this semester It IS however included for the

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