201-Midterm 1-S'11-Ver3(Blue)-SOL

201-Midterm 1-S'11-Ver3(Blue)-SOL - Name Seat Number...

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1 Name Recitation Section Number Seat Number MIDTERM 1 - SOLUTION Management 201 - Spring 2011 1. This examination consists of 33 multiple-choice questions. Each question is worth 3 points. 2. You must sit in your assigned seat to take the exam. If you are not in the correct seat, you will lose 5 points. 3. Print and code your name, ID number, and your section number on the computer answer sheet; please enter your section number as listed below. In the blank for TEST, please write the version number below. Be sure to use a number 2 pencil and sign the answer sheet. 4. You will have 1.5 hours to complete the exam. The exam will end at 9:30 p.m. All multiple- choice questions must be coded on the answer sheet before the end of the examination period at 9:30. Your score on these questions is based only on the coded answers. Please help us collect exams promptly when the exam is over. 5. Use of unauthorized written materials, receiving or giving verbal or written assistance from or to another person during an exam is considered cheating. Any student discovered cheating in an examination will be given a grade of F for the course. 6. In all problems answers are rounded to the nearest dollar or cent as indicated in the problem. Thus if you compute an answer to be $1.333333333333 and an answer of $1.33 is given; the $1.33 is the correct answer. Similarly, if you compute an answer to be $432.897654, all answers are rounded to the nearest dollar, and the answer $433 is provided; $433 is the correct answer. Recitation Section Instructor Day and Time Room Sections: 0003 Gerardo Baltodano F 11:30 AM – 12:20 PM RAWL 1057 0004 Brian Bobo F 10:30 AM – 11:20 AM RAWL 1011 0005 Krystal Miller F 10:30 AM – 11:20 AM RAWL 1057 0006 Gerardo Baltodano F 12:30 PM – 1:20 PM RAWL 1057 0007 Brian Bobo F 11:30 AM – 12:20 PM RAWL 1011 0008 Krystal Miller F 2:30 PM – 3:20 PM RAWL 1011 0009 Gerardo Baltodano F 1:30 PM – 2:20 PM RAWL 1057 0010 Krystal Miller F 12:30 PM – 1:20 PM RAWL 1011 0011 Krystal Miller F 9:30 AM – 10:20 AM RAWL 1057 0012 Brian Bobo F 9:30 AM – 10:20 AM RAWL 1011 0013 Krystal Miller F 1:30 PM – 2:20 PM RAWL 1011 0014 Gerardo Baltodano F 2:30 PM – 3:20 PM RAWL 1057 Version 3 (Blue) 2 1. Consider the following statements regarding traditional costing systems. I - Overhead costs are applied to products on the basis of volume-related measures. II - All product costs are direct costs. III - Traditional costing systems tend to distort product costs when numerous products are made that vary in their production requirements. Which of the above statements is (are) true? A. I only B. II and III only C. I and III only D. III only E. II only Answer: C Traditional systems use volume drivers; product costs are distorted when products use the overhead resources in different proportions. Use the following information for questions 2 and 3:
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201-Midterm 1-S'11-Ver3(Blue)-SOL - Name Seat Number...

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