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201-Quiz1-Ver1-S'11-SOL - Name Recitation Section Quiz 1...

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Name Recitation Section: Quiz 1 – Version 1 (Yellow) Management 201 Spring 2011 1. This quiz consists of 2 problems; the last question is on the back of this test. The point value for each problem is: A. FREEPERSON, INC. 15 points B. MORE FREEPERSON, INC. 5 points TOTAL POINTS 20 points 2. You have 30 minutes for this exam; no notes are allowed. 3. No notes are allowed. You may not use a calculator that allows storage of information or communication. 4. Show all of your calculations. Correct answers, which are not accompanied by work indicating how the answer was derived, will not receive any credit. Even if the answer can be computed in your head, indicate your thought process on paper. Partial credit will be given only where the logic and handwriting can be easily followed. This means calculations must be labeled and presented in an orderly fashion. The grader will not search for your numbers; nor may one explain ex post how one got one’s answer. 5. None of you would cheat; however, for completeness please recall the penalty for cheating is an F in the course. A. FREEPERSON, INC. Freeperson, Inc., manufactures wheels for in-line skates, skateboards, luggage, etc. In May, some records for the month were lost. Freeport uses a normal costing system; total overhead is allocated using direct labor costs as the allocation base. Freeport has retained the following information:
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