Mid Semester Examination
First Semester, 2013
BUSN7031 Management Accounting & Cost Analysis
Writing period: 1.5 Hours duration
Study period: 10 Minutes duration
Permitted materials:
*Non-programmable Calculators
*English to Foreign language translation dictionary with signed permission form
You must attempt to answer all questions.
INSTRUCTIONS
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The examination paper consists of 2 sections (Multiple Choice Questions and
Problems).
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Answer ALL Multiple Choice Questions on the multiple choice answer sheet provided. ∗
Answer ALL Problems in the booklet provided.
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Examination answer sheets and booklets without student numbers will be deemed incomplete and FAILED.
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All writing must be legible.
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A) $76,000
B) $280,000
C) $177,000
D) $128,000
12) Absorption costing:
A) is required for internal reports to managers
B) expenses marketing costs as cost of goods sold
C) includes fixed manufacturing overhead as an inventoriable cost
D) treats direct manufacturing costs as a period cost
13) Variable costing regards fixed manufacturing overhead as a(n):
A) period cost
C) product cost
B) inventoriable cost
D) administrative cost
14) ________ are subtracted from sales to calculate contribution margin.
A) Variable marketing costs
C) Fixed manufacturing costs
B) Variable manufacturing costs
D) Both A and B are correct.
4
Answer the following 2 questions using the information below:
Gabe's Auto produces and sells an auto part for $30.00 per unit. In 2010, 100,000 parts were produced and 75,000 units were sold. Other information for the year includes:
Direct materials
Direct manufacturing labour
Variable manufacturing costs
Sales commissions
Fixed manufacturing costs
Administrative expenses, all fixed
$12.00 per unit
$ 2.25 per unit
$ 0.75 per unit
$
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