ADAMSON UNIVERSITY

MANAGERIAL ACCOUNTING 2
MIDTERM EXAM – ANSWER KEY
NAME: ____________________ SECTION: ____________

1 B 16 D
2 C 17 A
3 D 18 A
4 D 19 C
5 D 20 C
6 B 21 A
7 D 22 A
8 B 23 A
9 A 24 C
10 C 25 D
11 D 26 A
12 D 27 D
13 D 28 B
14 C 29
15 B 30

1. 1,300 + 13,000 - 650 = 13,650 B

2. Predetermined overhead rate = P250,000/20,000 = P12.50. Applied manufacturing
overhead = P12.50 x 19,000 = P237,500, which is credited to Manufacturing Overhead
C
3. P20,000 × 45% = P9,000 D
4. P15 X 13,000 – P65,000 = P130,000; P130,000 / 13,000 = P10 D
5. P90,000 / (P50 - P40) = 9,000 D
6. P20,000 + 10,000 – 6,500 + 7,000 – 8,000 = P22,500 B
7. P(10,000) + (5,000) = P(15,000) D
8. P30,500 – 148,000 = P(117,500) B
9. P321,975 + 40,251 – 356,413 = P5,813 A
10. 580,000 + 6,400,000 - 840,000 = 6,140,000 C
11. 440,000 + 5,240,000 – 530,000 = 5,150,000 D
5,000,000 + 660,000 – 420,000 = 5,240,000
12. 400,000 - 260,000 – 240,000 + 50,000 + 60,000 + 90,000 + 10,000 = 110,000 D
13. 500,000 + 300,000 – 100,000 = 700,000 D
330,00 + 400,000 – 560,000 – 70,000 = 100,000
14. 80,000 + 530,000 = 610,000 C
15. (P780,000 – 343,200) / 780,000 = 56% B
16. (P780,000 – 343,200 – 327,600) / 780,000 = 14% D
17. (P3,000 + 10,000 + 1,000) / 10,000 = 1.40 A
18. P20 / (P64,000,000 / 200,000,000) = 62.50 A
19. P64,000,000 / 200,000,000 = 0.32 C
20. No Change = 2.50 C
21. P45 / P1.20 = 37.50 A
22. P700,000 + 150,000 + (125,000 + 350,000 / 2) = 1,087,500; P225,000 /
1,087,500 = 20.70% A
23. 365 / (P205,000 / 9,450) = 16.83 A
24. P205,000 / 9,450 = 21.69 C
25. 365 / (P345,000 / 32,500) = 34.37 D
26. P345,000 / 32,500 = 10.62 A
27. Incremental cost (P30,000/5,000) + P10 = P16, so Maple will have to charge P60
+ P16 = P76 D
28. Incremental revenue = 5,000 (P75 – 60) = P75,000; Incremental cost = (5,000 X
P10) + P30,000 = P80,000; P75,000 – 80,000 = P(5,000) B