Final Exam A - FINAL EXAMINATION FALL 2006 COMM 305 and...

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FINAL EXAMINATION FALL 2006 COMM 305 and ACCO 240 CONCORDIA UNIVERSITY MANAGERIAL ACCOUNTING DEPARTMENT OF ACCOUNTANCY COMM 305 & ACCO 240 JOHN MOLSON SCHOOL OF BUSINESS ALL SECTIONS ALL SECTIONS FINAL EXAMINATION FALL 2006 PLEASE READ THIS PAGE – IT CONTAINS IMPORTANT INFORMATION 1. This examination will last Three (3) hours and consists of Five (5) Questions printed on Nine (9) pages including this page. Make sure your copy of the exam is complete before starting. 2. Write all your answers (including answers to multiple-choice statements) in the lined examination answer booklet that has been provided to you separately. You may answer the Questions in any order. In front of the booklet place the number associated to the order in which they are done. 3. Your answers may be written in pencil or ink. 4. Read the Questions carefully and budget your time carefully. Show details of all work and calculations in order to benefit from part marks , except for Multiple- choice questions. Attempt all Questions. 5. This is a closed book examination; no reference to notes, etc. is allowed. However, a silent hand-held four-function calculator and one standard (not electronic) dictionary are permitted. 6. Invigilators will not answer questions , unless you think there is an error in the examination questionnaire. 7. When you have finished submit your exam booklet(s) and this questionnaire. Please enumerate your exam booklets. Question Topic Minutes Marks 1 Multiple-choice 2 minutes per MC 37.5 2 Manufacturing Statement 30 minutes 15 3 Cash Budget 40 minutes 15 4 Budget Variance Analysis 40 minutes 18 5 Incremental and Relevant analysis 40 minutes 15 1
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FINAL EXAMINATION FALL 2006 COMM 305 and ACCO 240 Total 180 minutes 100 QUESTION 1. (37, 25 multiple choice questions 1.5 marks each) (2 minutes per MC) Choose the best answer for each of the following. Write your answer only in the lined booklet that has been provided to you separately. Use the following information for items 1-3: The Colin Division of Mochrie Company sells its product for $30 per unit. Variable costs per unit are: manufacturing, $12; and selling and administrative, $2. Fixed costs are: $200,000 manufacturing overhead, and $50,000 selling and administrative. There was no beginning inventory at 1/1/05. Expected sales for next year is 40,000 units. Ryan Stiles, the manager of the Colin Division, is under pressure to improve the performance of the Division. As he plans for next year, he has to decide whether to produce 40,000 units or 50,000 units. 1. What would the manufacturing cost per unit be under variable costing for each alternative? 40,000 units 50,000 units a. $12.00 $12.00 b. $14.00 $14.00 c. $16.00 $17.00 d. $17.00 $16.00 e. None of the above 2. What would the net income be under absorption costing for each alternative? 40,000 units
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Final Exam A - FINAL EXAMINATION FALL 2006 COMM 305 and...

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