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Final Exam Managerial Accounting Winter 2009 SOLUTION ADM2341 All Sections.docx

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University of Ottawa

Final ExamManagerial AccountingWinter 2009 SOLUTIONADM2341 All SectionsSTUDENT NAME STUDENT NUMBER Instructions1Answer all questions in this booklet Booklet is not to be removed from the examination room You may separate the pages but ensure that you put them back together and staple before handing in2Please limit your answer to the space provided Please indicate if you use the back of a page 3The use of standard abbreviations OH for Overhead and CM for Contribution Margin Percentageis quite acceptable 4Budget your time wisely Please do not ask the invigilators questions Make reasonable assumptionswhere necessary 5Language dictionaries are allowedBudget about 18 minutes per gradeStatement of Academic IntegrityThe Telfer School of Management does not condone academic fraud an act by a student that may result in a false academic evaluation of that student or of another student Without limiting the generality of this definition academic fraud occurs when a student commits any of the following offences plagiarism or cheating of any kind use of books notes mathematical tables dictionaries or other study aid unless an explicit written note to the contrary appears on the exam to have in hisher possession cameras radios radios with head sets tape recorders pagers cell phones or any other communication device which has not been previously authorized in writingStatement to be signed by the studentI have read the text on academic integrity and I pledge not to have committed or attempted to commit academic fraud in this examinationSigned Note an examination without this signed statement will not be graded and will receive an exam grade of zeroSectionTimeProfessorCheckyour sectionMMonWed 1600173014301600Rhonda PyperNTuesThurs 10001130 8301000Ronald EdenPMonWed 1300143011301300Ronald EdenQTues 13001430 11301300Sheldon WeatherstoneRWed 19002200Marc TassQuestionMax GradesShort AnswerQs 1 to 638Exercises and ProblemsQ710Q810Q920Q1012Q1110Total100ADM 2341 Final Exam W2010Page 1 of 14Number in brackets is the grade or the questionAll grading will use the calculations carried forward ie the student is not penalized twice for an errorShort QuestionsQ1 6The Ring Around the Collar Company makes shirts Indicate whether each of the following items is a direct D or indirect I cost with respect to shirts and whether it is a product Pr or a period Pe cost Check the appropriate letter Indicate very briefly the reasons for yourchoicesExample Hand soap in the shirt factory washrooms DorI Pror Pe 0or5Cost cant be traced to shirtsInventory cost Means contributes to making of the shirts0 or 5 1 Utility costs incurred at company headquartersD or IPr or Pe0 or 5 Cost can t be traced to product Not an inventory cost0 or 52 Cost of company labels attached to shirts D or IPr or Pe0 or 5Too costly to traceInventory cost0 or 53 Insurance premiums on raw materials warehousesD or IPr or Pe0 or 5 Cant be traced to unitsInventory cost0 or 54 Cost of cotton cloth to make shirts D or IPr or Pe0 or 5Traceable costInventory cost0 or 5 5 Wages of forklift operators who move material along the production lineD or IPr or Pe0 or 5 Cost not traceable to shirtsInventory cost0 or 56Rent on the finished goods warehouse D or IPr or PeNot traceable to shirtsNot an inventory cost ADM 2341 Final Exam W2010Page 2 of 14Q2 4Precision Machine Shop had the following inventory balances at the beginning and end of September 2009
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