Midterm

In: Business and Management

Submitted By 601155
Words 1051
Pages 5
Week 4 : ABC and Budgeting - Midterm

-------------------------------------------------
Top of Form Time Remaining: | | Page: 1 2 |

Page 2

1. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larklin Corporation for the just completed year. | Sales | $820 | | Purchases of raw materials | $195 | | Direct labor | $170 | | Manufacturing overhead | $250 | | Administrative expenses | $180 | | Selling expenses | $140 | | Raw materials inventory, beginning | $80 | | Raw materials inventory, ending | $35 | | Work in process inventory, beginning | $65 | | Work in process inventory, ending | $30 | | Finished goods inventory, beginning | $130 | | Finished goods inventory, ending | $165 | Required: Prepare a Schedule of Cost of Goods Manufactured statement in the text box below.(Points : 15)

| 2. (TCO F) The Indiana Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below: Percent completed Units Materials Conversion
Work in process, June 1 70,000 65% 45%
Work in process, Jun 30 60,000 75% 65%The department started 290,000 units into production during the month and transferred 300,000 completed units to the next department.REQUIRED: Compute the equivalent units of production for the first department for June, assuming that the company uses the weighted-average method of accounting for units and costs.(Points : 20)

| 3. (TCO B) A tile…...

Similar Documents

Midterm

...| MIDTERM IN ADMINISTRATIVE AND OFFICE MANAGEMENT | | | | | | | | ADMINISTRATIVE AND OFFICE MANAGEMENT (MANA 3023) Name: Date: (Family Name) (First Name) This examination is designed to measure your creativity and ability to apply newly-learned concepts. Answers should be in double space, font type is Arial, font size is 12. Let us assume you have just been appointed as a manager of an overseas recruitment office for skilled workers in Southeast Asian countries and that you has two (2) major deliverables: 1. A proposed manual on the recruitment system and procedures for approval of your foreign investor (financier). Please prepare a 5-page concept paper with an indicative outline of your proposal. Take into account, as inputs to your proposal, the characteristics of a well-designed system and work flow process chart cited in the reading materials distributed in class. 2. A proposed office accommodation and layout for with 25 personnel of which you are the manager. Prepare a 5-page concept paper with the proposed office layout. Attach as annex the table of organization (personnel structure) of your office. Assume that budget is not a problem, but remember that your foreign investor will subject your proposal to his review and approval. Please take into consideration the checklist for accommodation requirements and principles of layout enumerated in the reading materials distributed in......

Words: 2065 - Pages: 9

Midterm

...Soleil Gott 10/18/12 ENC1101; Midterm Exam Professor Prapopoulos Society can influence individual human behavior in many different ways. The influence possibly can be greater if the individual is week minded and not strong from within. The way society is can also influence the way someone becomes. Affirmative Action is something that is common in society today and is recognized a lot by others. “Affirmative action refers to policies that take factors including "race, color, religion, gender, sexual orientation, or national origin into consideration in order to benefit an underrepresented group "in areas of employment, education, and business", usually justified as countering the effects of a history of discrimination.”-Tori Sims. In the reading “Affirmative Action: The Price of Preference”, the writer talks about how being a black male affected him. It not only caused him a great difficulty of getting into college, but his children as well. Society negatively affects people so much they just want to escape from it all. The human mind is very much affected by other minds. We tend to think what others think; and create along the lines others have created. Individuality is to break out of this mode; to think differently and manifest what has not existed before. In fact, individuality is to think and create something out of nothing, which may be the process of creation itself. Within time, society is causing people to become more and more like each other.......

Words: 669 - Pages: 3

Midterm

...high risk Correct Answer: high risk Question 19 0 out of 3 points Incorrect The approximate probability of a value occurring that is greater than one standard deviation from the mean is approximately (assuming a normal distribution) Answer Selected Answer: 68.26% Correct Answer: 15.87% Question 20 3 out of 3 points Correct The net present value of an investment represents Answer Selected Answer: the expected contribution of that investment to the goal of shareholder wealth maximization Correct Answer: the expected contribution of that investment to the goal of shareholder wealth maximization This midterm exam consist of 32 multiple choice questions and covers the material in Chapters 1 through 8. There are four questions from each chapter. Question 1 5 out of 5 points Correct The flat-screen plasma TVs are selling extremely well. The originators of this technology are earning higher profits. What theory of profit best reflects the performance of the plasma screen makers? Answer Selected Answer: innovation theory of profit Correct Answer: innovation theory of profit Question 2 5 out of 5 points Correct To reduce Agency Problems, executive compensation should be designed to: Answer Selected Answer: create incentives so......

Words: 2308 - Pages: 10

Stats Midterm

...Here are the questions to be answered for the Take Home portion of the Midterm Exam. This assignment is due on Friday, February 28, 2014. Use the Midterm Dataset to answer the questions. Please include all SAS code and output for full credit. You may not receive any help for anyone for this assignment, but you may refer to books, manuals, etc. 1) Create a 99% for the difference of the means of the variable WAR (wins above replacement) for those players who did not make the playoffs compared to those players who made the playoffs. Based on this interval, could you make the conclusion that the players who made the playoffs had a higher mean WAR than those who did not make the playoffs? Explain. 2) Create a 90% confidence interval for the percent of players who were considered to be outfielders. For position players, 37.5% of position players on the field are outfielders. Based on the sample provided, explain why this is (is not) a good estimate for the percentage of players who are outfielders. 3) Using hypothesis testing, explain if there is enough evidence at the 5% level of significance to say that the mean number of homeruns (HR) is less than 25. 4) At the 2% level of significance, is there any evidence to support the claim an individual’s batting average in September is going to be less than his batting average in April. Explain your answer. 5) Create a new variable called “TeamPlayer” where the variable has the value “Yes” if the......

Words: 305 - Pages: 2

Midterm

...Midterm Paper Many artists base their songs on past experiences in their life. Many of them are happy, sad, controversial, and at times have no meaning to them. One particular artist has many of these themes hidden away in her music. Grimes is a renowned artist known for her Indie music. With her ethereal and ambient sounding tones, it is hard to differentiate actual lyrics and when her voice is actually the rhythm that is being heard in her music. Her song Oblivion is perhaps one of her most understandable when it comes to lyrics. Her song Oblivion has a story, poetic themes, and imagery. Grimes' Oblivion has story engrained in her lyrics. When the song starts, it has an upbeat electronic tempo in the begging. It sounds as though, it would not have any lyrics because of its heaviness. The first line of the song is as if it is an event going on in that moment. It’s almost like a moment in her life which she is recalling. Grimes sings (2012)"And now the walk about, after dark." It is assumed she is walking about at night. The she goes on to say "It’s my point of view", which assumes she has an opinion on walking about at night. It is confirmed when she goes on to say (2012)"If someone could break your neck. Coming up behind you, always coming and you'd never have a clue". That line is very gruesome, so there may be some underlying context to that line. Perhaps Grimes was assaulted at some point in her life or is making a general statement, that it is not safe at night.......

Words: 818 - Pages: 4

Midterm

...Prof Smith Midterm 1301 1. Briefly discuss the political, ideological and military causes of the American Revolution. a. The colonist were confident in their local form of power that has been in function for over 150 years and therefor resented the parliament for stepping in and managing affairs without any representation of the colonies. Accumulate power – insulted – stamp act – sons of liberty – tar and feathers- stamp act congress(new york) came up with no taxation without representations inspired from Daniel Delaney “considerations” - b. The colonists justified their rebellion against the government based on the philosophy of John Lock, in which he wrote that the creation of government was formed in order to protect the natural rights granted to each human of life, liberty, and property. He therefore claimed that if the government violates these rights, the citizens have the right to revolt and claim what is theirs. Well read – drew from John Lock – glorious revolution =parlemant exiles stuarts and invited new dynasty - c. The colonist feared the pressures of a free standing army present and the monarchal environment it would create. Delcloratory act – colonists heckles soldiers leading to boston massacre – first black marder – john adams defends and wins 2. Briefly discuss the significance of all of the following: the Tea Act, the Boston Tea Party, the Coercive Acts, The First Continental Congress. - Tea act not repealed – merchents no longer......

Words: 1073 - Pages: 5

Midterm

...Midterm Paper This semester I have learned some valuable info about myself and the primary piece that I have learned is that I am anxious to begin my career. This stems from the fact that I will graduate with bachelors in December, and I am so anxious to begin my masters program which is the final obstacle that I must pass in order to officially reach my dream. If I was to make any changes it would be to complete my degree in four years right after high school, just to expedite the process, but who’s to say that I would be where I am now if I took that route. What I have learned about others is, that being in a senior filled class like ours many of us have the same anxiety that I have. Most are anxious to begin their respective careers and grow as individuals as they enter the next phase in their lives. As a collegiate basketball assistant coach I look to impact the lives of young males looking to further their academic and athletic aspirations; through instruction and guidance within the sport of basketball. After completing my bachelors degree I am looking to fill a graduate assistant coaching position at the division I level, in order to ensure that meet the desired qualifications requested from aspiring coaches of my stature. In the future I see myself as one of top names in college basketball as an assistant coach. I want to be a valuable and coveted asset to a program, but more importantly to prospective student athletes who are looking to be guided and shaped into......

Words: 466 - Pages: 2

Midterm Info

...BA 302 online: Instructions for Midterm, Fall 2015 Window period: Friday, October 16th, 2015, 8 a.m. – Monday October 19th, 11:59 p.m. (I have extended the window period by one day from originally scheduled) Time limit Six hours (you can take the Exam only at one stretch) The test will consist of 17 True/False type (4 points each), 16 Multiple/Choices (7 points each) and 8 Essay Type (15 points each) with a total of 300 points. The Chapters covered are 1, 2, 3, 5, 6, and 7. The topics to focus in these Chapters are listed below following the general guidelines. General Guidelines for Preparation for the Test At the outset I want you to realize that this is an open book test, but full preparation is absolutely necessary. If you are not prepared enough and need to turn the pages of the book or power point slides or my Instructions at every step, then it would not be possible for you to finish all questions in time. Also remember that the questions are based on the Text Book chapter topics and my Instructions but are not directly from the book (as was also true in your bi-weekly assignments). Review my Instructions on the six chapters covered in the Midterm. Besides, also review the Two Tri-Weekly assignment solutions. As you have already seen, I give the solution to the Tri-Weekly Assignments with necessary explanations and details immediately after I finish grading (usually within 48 hours from the deadline for assignment submission). And I provide ppt slides for all......

Words: 1729 - Pages: 7

The Impact of Midterm

...I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m I need to create an account Please let me do it midterm I need it for m...

Words: 255 - Pages: 2

Eco550 Midterm Eco 550 Midterm

...ECO550 MIDTERM ECO 550 MIDTERM Download Answer Here http://workbank247.com/q/eco550-eco-550-midterm/16953 http://workbank247.com/q/eco550-eco-550-midterm/16953 Question 1 Economies of Scope refers to situations where per unit costs are: • Question 2 For a short-run cost function which of the following statements is (are) not true? • Question 3 According to the theory of cost, specialization in the use of variable resources in the short-run results initially in: • Question 4 Economies of scale exist whenever long-run average costs: • Question 5 The existence of diseconomies of scale (size) for the firm is hypothesized to result from: • Question 6 If TC = 321 + 55Q - 5Q2, then average total cost at Q = 10 is: • Question 7 Decrease the demand for yen and decrease the supply of the yen. • Question 8 An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles? • Question 9 0 out of 4 points In a recession, the trade balance often improves because • Question 10 The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time Download Answer Here http://workbank247.com/q/eco550-eco-550-midterm/16953 • Question 11 Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to • ......

Words: 9659 - Pages: 39

Eco550 Midterm Eco 550 Midterm

...ECO550 ECO 550 ECO/550 MIDTERM Download Answer Here http://workbank247.com/q/eco550-eco-550-midterm/16953 http://workbank247.com/q/eco550-eco-550-midterm/16953 Question 1 Economies of Scope refers to situations where per unit costs are: • Question 2 For a short-run cost function which of the following statements is (are) not true? • Question 3 According to the theory of cost, specialization in the use of variable resources in the short-run results initially in: • Question 4 Economies of scale exist whenever long-run average costs: • Question 5 The existence of diseconomies of scale (size) for the firm is hypothesized to result from: • Question 6 If TC = 321 + 55Q - 5Q2, then average total cost at Q = 10 is: • Question 7 Decrease the demand for yen and decrease the supply of the yen. • Question 8 An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles? • Question 9 0 out of 4 points In a recession, the trade balance often improves because • Question 10 The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time Download Answer Here http://workbank247.com/q/eco550-eco-550-midterm/16953 • Question 11 Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to • Question 12 The import of Apple...

Words: 10000 - Pages: 40

Eco 550 Midterm Eco550 Midterm

...ECO550 ECO 550 ECO/550 MIDTERM Download Answer Here http://workbank247.com/q/eco550-eco-550-midterm/16953 http://workbank247.com/q/eco550-eco-550-midterm/16953 Question 1 Economies of Scope refers to situations where per unit costs are: • Question 2 For a short-run cost function which of the following statements is (are) not true? • Question 3 According to the theory of cost, specialization in the use of variable resources in the short-run results initially in: • Question 4 Economies of scale exist whenever long-run average costs: • Question 5 The existence of diseconomies of scale (size) for the firm is hypothesized to result from: • Question 6 If TC = 321 + 55Q - 5Q2, then average total cost at Q = 10 is: • Question 7 Decrease the demand for yen and decrease the supply of the yen. • Question 8 An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles? • Question 9 0 out of 4 points In a recession, the trade balance often improves because • Question 10 The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time Download Answer Here http://workbank247.com/q/eco550-eco-550-midterm/16953 • Question 11 Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to • Question 12 The import of Apple...

Words: 10000 - Pages: 40

Midterm

...MIDTERM EXAM NAS 364 FEDERAL INDIAN LAW FALL 2015 You have one week to finish this exam. It will be due by e-mail to marlon.sherman@humboldt.edu, no later than 5 PM on Wednesday, October 28. The exam will take the form of a legal memo, in which you brief me on the legal standing of our client, Joe Doe. I have provided some links to forms of legal memos that you might use, and there are other examples online. http://www.law.cuny.edu/legal-writing/students/memorandum/memorandum-3.html http://www.lawandborder.com/Academic/LW/LW--Samples/SampleMemoSTCL.pdf You will need to research the position of the individual whom you are representing. What are the positions regarding each party in this case – that is, The Corporation, John Smith and Joe Doe? To what extent do these individuals’ values reflect their positions toward the issue, toward the plaintiff, toward the tribe and toward the state? Would it make any difference whether this took place in a PL 280 or non-280 state? When you have determined the answers to these questions, begin your legal research and prepare to argue your case in court. You will need to analyze pertinent law as we have done in class, looking for facts, issues and analyses, just as the online memo templates suggest. When you mention a particular case, you must cite it using the following hint: Montana v. United States, 450 U.S. 544 (1981), 546. Remember, your boss is very lazy and hates research and has......

Words: 602 - Pages: 3

Midterm Solutions

...INDE499B, Midterm #1 1 MIDTERM #2: INFORMATION SYSTEMS (INDE499B) Dr. Jennifer Turns Autumn 2000 Name: ____________________________ General Instructions: a. Total Time: You will have a total of 50 minutes for this midterm. b. Point Values: The questions are weighted differently. The point values are listed next to each question. Please take this into account when pacing yourself. c. Use of Resources: This is a close book, closed note test – with one exception. You may use the two page “logical design” handout (i.e., the one describing the steps required to transform an ER diagram into a relational database schema). d. A Hint: Be certain to read the questions carefully and respond to all portions of the question. e. GOOD LUCK INDE499B, Midterm #1 2 QUESTION 1: THE DATA DESIGN PROCESS (25 points). Imagine that you have been assigned to a team that will be developing an inventory tracking system. As part of the project startup, your manager has asked each team leader to bring a basic work plan to the next meeting. At that meeting, these work plans will be analyzed to determine the overall project timeframe, costs, personnel requirements and software requirements. For now, as the team leader for the data design team, you have been asked to bring a work plan that identifies the phases of data design and includes the following information for each phase: a). a description of the data design phase, b). the inputs of the phase, c). the outputs of the phase, d). a key issue......

Words: 1465 - Pages: 6

Midterm

...Week 4 : ABC and Budgeting - Midterm Time Remaining: Page: 1 2 Page 2 1. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larklin Corporation for the just completed year. Sales $820 Purchases of raw materials $195 Direct labor $170 Manufacturing overhead $250 Administrative expenses $180 Selling expenses $140 Raw materials inventory, beginning $80 Raw materials inventory, ending $35 Work in process inventory, beginning $65 Work in process inventory, ending $30 Finished goods inventory, beginning $130 Finished goods inventory, ending $165 Required: Prepare a Schedule of Cost of Goods Manufactured statement in the text box below. (Points : 15) 2. (TCO F) The Indiana Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below: Percent completed Units Materials Conversion Work in process, June 1 70,000 65% 45% Work in process, Jun 30 60,000 75% 65% The department started 290,000 units into production during the month and transferred 300,000 completed units to......

Words: 1049 - Pages: 5