Mgmt_201_(Ganguly)_Midterm1_Fall_2005_v1_modified

Mgmt_201_(Ganguly)_Midterm1_Fall_2005_v1_modified - Please...

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Unformatted text preview: Please time yourself to do this exam for practice. If you could not finish it in 90 minutes, you need to review the reading material and class notes some more and practice some more HM and self-study questions. The solutions will be posted approximately midway in the week before the exam. MGMT 201 (Ganguly) Midterm 1 Exam Fall 2005 Instructor : GANGULY COURSE : MGMT 201 DATE : Sept 27, 2005 NAME (Please use the name as it appears on your Purdue University ID card. PRINT clearly): LastName_______________________, FirstName__________________, MI_________ Student ID#:______________________ (NOT SS#) TEST/QUIZ NUMBER : 01 [Please also fill in the above information (and darken the corresponding circles) in the appropriate places on the front of the machine-readable answer sheet. You may leave "SECTION NUMBER" blank.] ================================================================== SETION 1: To be answered on machine-readable answer sheet. 1. The following tasks are associated with an activity-based costing system: 1--Calculation of cost application rates 2--Identification of cost drivers 3--Assignment of cost to products 4--Identification of cost pools Which of the following choices correctly expresses the proper order of the preceding tasks? A) 1, 2, 3, 4. B) 2, 4, 1, 3. C) 3, 4, 2, 1. D) 4, 2, 1, 3. E) 4, 2, 3, 1. 2. The accounting records of Eagle Company revealed the following costs: Factory utilities $ 24,000 Wages of assembly-line personnel 125,000 Customer entertainment 50,000 Indirect materials used 12,000 Depreciation on salespersons' cars 35,000 Production equipment rental costs 80,000 Costs that would be considered in the calculation of manufacturing overhead total: A) $116,000. B) $151,000. C) $276,000. D) $326,000. E) some other amount. 3. The accounting records of Charger Company revealed the following costs: Direct materials used, $130,000; direct labor, $250,000; manufacturing overhead, $490,000; and selling and administrative expenses, $200,000. Charger's product costs total: A) $380,000. B) $740,000. C) $870,000. D) $1,070,000. E) some other amount. 4. The accounting records of Hill Corporation revealed the following selected costs: Sales commissions, $40,000; plant supervision, $94,000; and administrative expenses, $185,000. Hill's period costs total: A) $40,000. B) $94,000. C) $185,000. D) $225,000. E) $319,000. 5. Prime costs are comprised of: A) direct materials and manufacturing overhead. B) direct labor and manufacturing overhead. C) direct materials, direct labor, and manufacturing overhead. D) direct materials and direct labor. E) direct materials and indirect materials. Page 2 Use the following to answer questions 6-7: Wee Care is a nursery school for pre-kindergarten children. The school has determined that the following biweekly revenues and costs occur at different levels of enrollment: Number of Students Enrolled Total Revenue Total Costs 10 $3,000 $2,100 15 4,500 2,700 16 4,800 2,800 20 6,000 3,200 21 6,300 3,255 6. The marginal cost when the twenty-first student enrolls in the school is:...
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Mgmt_201_(Ganguly)_Midterm1_Fall_2005_v1_modified - Please...

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