201-Midterm 1-Ver1(Pink)-F'11 SOL

201-Midterm 1-Ver1(Pink)-F'11 SOL - Name Seat Number...

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Midterm 1 – Fall 2011 Page 1 Name Recitation Section Number Seat Number MIDTERM 1 - SOLUTION Management 201 - Fall 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 listed as an answer, $433 is the correct answer. 7. On your answer sheet please be sure to code your recitation section number as listed below: Recitation Section Instructor Day and Time Room Sections: 0003 David Franco F 8:30 AM – 9:20 AM KRAN G018 0004 David Franco F 9:30 AM – 10:20 AM KRAN G018 0005 David Franco F 10:30 AM – 11:20 AM KRAN G018 0006 Jason Merritt F 11:30 AM – 12:20 PM KRAN G018 0007 Jason Merritt F 12:30 PM – 1:20 PM KRAN G018 0008 Jeff Doll F 12:30 PM – 1:20 PM RAWL 1011 0009 Jason Merritt F 1:30 PM – 2:20 PM KRAN G018 0010 Jeff Doll F 1:30 PM – 2:20 PM RAWL 1011 0011 Jason Merritt F 2:30 PM – 3:20 PM KRAN G018 0012 Jeff Doll F 2:30 PM – 3:20 PM RAWL 1011 Version 1 (Pink) Midterm 1 – Fall 2011 Page 2 1. Lake Appliance produces washers and dryers in an assembly-line process. Labor costs incurred during a recent period were: corporate executives, $500,000; assembly-line workers, $180,000; security guards, $45,000; and plant supervisor, $110,000. The total of Lake's direct labor cost was: A. $110,000. B. $180,000. C. $155,000. D. $235,000. E. Some other amount. Answer: B For most companies only the assembly line workers would be direct labor—this is the only cost where it is possible and cost effective to trace the cost to the products. 2.
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201-Midterm 1-Ver1(Pink)-F'11 SOL - Name Seat Number...

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