Preview

Mba515 Midterm

Satisfactory Essays
Open Document
Open Document
1394 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Mba515 Midterm
MBA515 Midterm Exam
Grading Summary These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. | Date Taken: | 11/26/2012 | Time Spent: | 1 h , 53 min , 23 secs | Points Received: | 187.50 / 270 (69.4%) | | Question Type: | # Of Questions: | # Correct: | Essay | 6 | N/A | | |

Grade Details - All Questions |

1. | Question : | Schlag Inc. expects its sales in January to be $111,000. The company's contribution margin ratio is 65% and its fixed monthly expenses are $64,000.

Required:

Estimate the company's net operating income for January, assuming that the fixed monthly expenses do not change. Show your work! | | | Student Answer: | | Construct the Variable Costing Income Statement Year 1 Sales $111,000 Variable expenses: Variable cost of goods sold Variable selling and administrative expenses - 0 Contribution margin (.65*111000) - 72150 Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses - $64,000 Net operating income = $8,150 | | | | Points Received: | 45 of 45 | | Comments: | | | | 2. | Question : | Babb Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year:

Beginning inventory Ending inventory Raw materials $11,000 $15,000 Work in process $32,000 $14,000 Finished goods $108,000 $123,000

The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,000 machine-hours and incur $272,000 in manufacturing overhead cost. The following transactions were recorded for the year:

·Raw materials were purchased, $416,000.
·Raw materials were requisitioned for

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Acct 505 Midterm

    • 681 Words
    • 3 Pages

    (TCO A) When the activity level is expected to increase within the relevant range, what effects would be anticipated with respect to each of the following?…

    • 681 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Acct 550 Midterm

    • 1228 Words
    • 8 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 1228 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    Bus 210 Week 2 Study Guide

    • 1147 Words
    • 5 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 1147 Words
    • 5 Pages
    Satisfactory Essays
  • Powerful Essays

    PHI 103 Wk2 Library Quiz

    • 2142 Words
    • 30 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 2142 Words
    • 30 Pages
    Powerful Essays
  • Satisfactory Essays

    Week 1 Quiz Hsm546

    • 325 Words
    • 2 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 325 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Assignment 201 Quiz

    • 3103 Words
    • 13 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 3103 Words
    • 13 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Week 1 HW Graded

    • 1751 Words
    • 26 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 1751 Words
    • 26 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Acct Midterm

    • 1121 Words
    • 5 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 1121 Words
    • 5 Pages
    Satisfactory Essays
  • Satisfactory Essays

    SBE 310 Final Exam

    • 1920 Words
    • 8 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 1920 Words
    • 8 Pages
    Satisfactory Essays
  • Satisfactory Essays

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 695 Words
    • 9 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Week 1 Quiz

    • 774 Words
    • 4 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 774 Words
    • 4 Pages
    Satisfactory Essays
  • Satisfactory Essays

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 1377 Words
    • 17 Pages
    Satisfactory Essays
  • Powerful Essays

    Dell Csr

    • 21161 Words
    • 85 Pages

    60,000 50,000 million US$ 40,000 30,000 20,000 10,000 0 Revenue Net income Feb 02 31,168.00 1,246.00 Jan 03 35,404.00 2,122.00 Jan 04 41,444.00 2,645.00 Jan 05 49,205.00 3,043.00 Jan 06 55,908.00 3,572.00…

    • 21161 Words
    • 85 Pages
    Powerful Essays