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ADMS2510F.FL95 - Student Name Student Number Section Monday...

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1 Student Name: _________________________ Student Number: ________________________ Section: Monday ____ Tuesday ____ Wednesday ____ Thursday ____ Saturday ____ York University Atkinson College Department of Administrative Studies Final Examination Fall 1995 AK/ADMS 2510.03 Course Directors: Larry Blair, Forbes Cavanagh, Lynne MacInnis, and Paul Roy Date: December 20, 1995 Time: 7:00 pm - 10:00 pm Weighting: 50% of final grade Instructions: 1. This is a closed-book examination and no collaboration is allowed among students. 2. Put your name, student number, and section at the top of the page. 3. Answer all questions. The marks and minutes are indicated for each question. There are a total of 100 marks and you have been given 180 minutes for completion. 4. All questions are to be completed on the examination paper using the reverse side of a page if necessary. 5. Show calculations. 6. Small, noiseless, battery operated calculators are permitted. 7. There are a total of 13 pages. Count and ensure that you have all pages. 8. In preparing your responses, you may remove the staple from the examination paper, but assemble the pages in order when you have finished. 9. You may write with a pencil or pen. 10. Circle the name of your instructor at the top of the page. Good luck. Question 1 _______ 2 _______ 3 _______ 4 _______ 5 _______ Total ________/100
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2 Question 1 (20 marks - 36 minutes) Barnes, Inc., produces Canadian flags for department stores. The raw materials account includes both direct and indirect materials. The account balances at the beginning and end of August 1994 are as follows: August 1 August 31 Raw Materials Inventory $14,000 $15,300 Work in Process Inventory 20,500 18,800 Finished Goods Inventory 7,000 5,200 During the month, Barnes purchased $46,000 of raw materials; direct materials used in August were $34,400. Factory payroll costs for March were $85,200, of which 72 percent was related to direct labour. Overhead charges for depreciation, insurance, utilities, and maintenance were $55,300 for the month. Required: a. Determine total overhead for August. (Hint: Include indirect material.) b. Prepare a schedule of the cost of goods manufactured. c. Prepare a schedule of the cost of goods sold.
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3 Question 2 (20 marks - 36 minutes) Travelglobe Ltd. is considering replacing its reservation machines. Presently they use the Air Canada Pegasus system, the new system would be a Sabre system from American Air Lines. Following are the relative costs.
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