Midterm2 Fa2009 - Name (print) _ Student ID # _ Class...

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Name (print) ________________________________ Student ID # ________________________________ Class day/time ______________________________ 6A:002 Managerial Accounting Fall 2009 Midterm 2 Instructions: 1. This exam contains 40 questions. Each question is worth 2 1/2 points. There are 100 total points on the exam. 2. There is no partial credit. But, in some cases we may look for carry-through errors. Show your work clearly so that you, and we, can understand the logic of what you are doing. 3. Round numbers bigger than 1,000 to the nearest whole number. Round numbers less than or equal to 1,000 to four decimal places. 4. Write your answers on the appropriate lines of the answer sheet stapled to the back of the exam. 5. This is a "closed book, closed notes" exam. You may NOT use your book, notes, or any other references during the exam. 6. You have two hours to complete the exam. 7. This exam has 25 pages including this cover sheet (don’t be alarmed – there’s lots of extra room to write and several pages of tables). Check your exam and notify the proctor if pages are missing. 8. The proctor can answer simple questions clarifying the English language. Other types of questions will not be answered. 9. Remember - You need only a pencil, eraser, and simple calculator for this exam. Using or viewing any other material, including cell phones, will be considered cheating regardless of the circumstances . In such cases, you will receive 0 points for the exam and you will not be able to replace the grade with a higher grade. After completing your exam, sign and date the Honor Pledge below. If you cannot truthfully sign the pledge, you must contact your professor or a proctor before handing in your exam. On my honor, I pledge that during this examination I neither gave nor received any assistance. __________________________ _____________ ________________ Signature Date ID
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6A:002 Fall 2009 – Midterm 2 Page 2 Remember: When necessary, round your answers. Round numbers bigger than 1,000 to the nearest whole number. Round numbers less than or equal to 1,000 to four decimal places. Write your answers on the answer sheet on the front page of the exam question document. Use the following information about Oktoberfest to answer questions 1 through 3. Tippie Build Steering Committee is planning a fundraising event: Oktoberfest Grill-Out. It estimates its costs as follows: $150.00 cost of grill, tables, and warming trays $1.90 in food cost for each person served The Steering Committee plans to charge $5 per person. At a similar event in early October, it served 195 customers and had total revenue of $975. 1. The Steering Committee expects 300 people to attend Oktoberfest. Compute the total profit that the event should generate. 2. Compute the minimum number of people it must serve in order to break even.
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Midterm2 Fa2009 - Name (print) _ Student ID # _ Class...

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