Quiz 1

Topics: Contribution margin, Management accounting, Variable cost, Fixed cost / Pages: 6 (1430 words) / Published: Sep 16th, 2013
ADM 3346 X COST ACCOUNTING Spring/Summer 2012 Quiz No. 1 Solutions
. . . . . . . / 16 marks NAME: __________________________________________ STUDENT #: ________________________

Statement of Academic Integrity:
The 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 his/her possession cameras, radios (radios with head sets), tape recorders, pagers, cell phones, or any other communication device which has not been previously authorized in writing.

Statement to be signed by the student:
I have read the text on academic integrity and I pledge not to have committed or attempted to commit academic fraud in this examination. Name:______________________________________ (signature)

Note: A quiz received without the signature of the student will not be graded and will receive a score of zero.

1

Multiple Choice (16 marks) Choose the best answer for each of the following 8 multiple choice questions. Circle your answer directly on the quiz booklet. Only one answer will be accepted for each multiple choice question. There is no penalty for guessing. Each question is worth 2 marks. Question No. 1 Gamble Company has only 25,000 hours of machine time each month to manufacture its two products. Product X has a contribution margin of $50 per unit, and Product Y has a contribution margin of $64 per unit. Product X requires 5 hours of machine time, and Product Y requires 8 hours of machine time. If Gamble Company wants to dedicate 80 percent of its available machine time to the product that provides the highest contribution margin per unit of the

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