Chú ý luyện full file này nhé .

Đầu tiên luyện hết các câu Q sau đó học thuộc key
và câu hỏi phần dưới theo thứ tự ABCD ( nó chỉ nhớ đáp án thui đã có sẵn nhé )
nằm ở phần dưới cùng .
Cứ luyện hết 3 file : file này và 2 file kia đảm bảo thi okila nhó aim A.
Q1. which of the following is not a financial information?
a. Canteen staff cost
b. Canteen facilities
c. Costs of subsidizing meals
d. Cost of head and light
Q2. A business plan in life-cycle of a new product is?
a. Strategic plan (vòng đời dài hạn mang tính chiến lược)
Q3. A business manager needs?
a. Financial information only
b. Non-financial information only
c. A combination of financial and non-financial information
d. None of the above
Q4. Which of the following costs would NOT be the concern of the supervisor of a
production department?
a. Material cost
b. Labor cost
c. Maintenance cost for machine
d. Lease payments on a machine (vì ô supervisor chỉ giám sát máy móc chứ
k liên quan đến lease)
Q5. A company makes one delivery per week to all of its customers. Cost of these
deliveries is:
a. A selling and distribution cost
Q6. Prime cost is:
a. The total of direct costs (direct material+direct labor+direct expenses)
Q7. A cost which contains both fixed and variable components and partly affected by
changes in the level of activities is known as
a. A semi- variable cost
Q8. Which of the following costs are fixed per unit but change in total, as production
level changes?
a. Variable cost
Q9. If an assembly line supervisor is paid a salary of $100 each which and additional
$0.10 for every unit of production made in the week, this wage could be described as
a. A semi-variable cost
Q10. What is the ‘lead time’ in inventory control?
A. The time between placing an order with a supplier, and the inventory
becoming available for use
Q11.Which of the following formulas describe "reorder level'?
C. Maximum usage x Maximum lead time
Q12. Which of the following is the best description of "EOQ"?
D. The economic order quantity (EOQ) is the order quantity which minimises
inventory costs
Q13. Which formula belows is used for "Time work" wages calculation?
A. Wages = Hours worked × Rate of pay per hour
Q14.Which statement as follow is the best describe about overtime premium?
A. Overtime premium is the whole of the payments for overtime hours
B. Overtime premium is the extra rate per hour which is paid, not the whole of
the payment for overtime hours
C. Overtime premium is the basic rate which is paid for overtime hours
D. Overtime premium is the extra rate per hour which is paid for specific job
Q15. Overtime premium paid for direct worker in general overtime is classified as
A. Prime cost
B. Direct cost
C. Indirect cost
D. Variable cost
Q16. Overheads related to only one cost center should be
D. Allocated
Q17.Overheads related to more than one cost centre should be
A. Absorbed
B. Re-apportioned
C. Apportioned : chia thành từng phần
D. Allocated
Q18. Re-apportionment is a stage, in that
C. Overhead is shared from service centres to production centres
Q19.What is marginal cost? The variable cost of one unit of product or service
Q20. What is marginal production cost? The variable production cost of one unit of
product
Q21. What is one of principles of marginal costing?
A. Period fixed costs are the same, for any volume of sales and production
B. Period variable costs are the same, for any volume of sales and production
C. Fixed costs are not the same at different levels of activity
D. Variable costs per unit are not the same at different levels of activity
Q22. Which costing as belows is a method applied where work is undertaken to
customer's special requirements and each order is of comparatively short duration?
A. Job Costing
Q23. Which costing as follows is a method used where it is not possible to identify
separate units of production, or jobs, usually because of the continuous nature of the
production processes involved
D. Process Costing

Q24. In a process account, how are abnormal gains valued?

A. At their scrap value
B. The same as good production
C. At the cost of raw materials
D. The same as normal losses

Q25. Which statement about equivalent units is true?

A. Equivalent units are notional part units which represent incompleted work
B. Equivalent units are notional part units which represent completed work
C. Equivalent units are notional whole units which represent incompleted work
D. Equivalent units are notional whole units which represent completed work

Q26. What are joint products?

D. Two or more products separated in a process, each of which has a significant
value compared to the other

Q27. What are by-products?

A. Incidental products from a process which has an insignificant value compared
to the main product.

Q28. In process costing, a joint product is:

B. A product which is produced simultaneously with other products and is of
similar value to at least one of the other products

Q29.ABC systems assign overheads to: A. Each major activity

Q30. Which line-up as follows is suitable for a product life cycle?

A. Introduction, Decline, Maturity, Growth
B. Introduction, Decline, Growth, Maturity
C. Introduction, Growth, Maturity, Decline
D. Introduction, Growth, Decline, Maturity
Q31. Which stage of a product life is aimed by target costing?
A. Development and design stage
Q32. The statement "a plan of what the organisation is aiming to achieve and what it
has set as a target whereas a forecast is an estimate of what is likely to occur in the
future" is the term of? B. Fixed Budget
Q33. The statement "a budget which is designed to remain unchanged regardless of
the volume of output or sales achieved" is the term of? B. Fixed Budget

Q34. The statement "a budget which, by recognising different cost behaviour patterns,
is designed to change as volumes of output change" is the term of?D. Flexible Budget
Q35. Budgets for the various functions and departments of an organisation are:
A. Functional budgets
Q36. A budget that consists of a budgeted statement of profit or loss, a budgeted
statement of financial position and a cash budget is:
B. A master budgets
Q37. Which of the following are functional budgets?
i. Purchasing budget in. Cash budget iii. Sales budget iv. Marketing cost budget
D. i. ill and iv
Q38. 'A budget allowance which is set without permitting the ultimate budget holder
to have the opportunity to participate in the budgeting process is the term of which
following budget?
A. Imposed/Top-down budget
Q39. 'A budgeting system in which all budget holders are given the opportunity to
participate in setting their own budgets' is the term of which following budgetting
system? B. Proposed/Bottom-up budget
Q40. Which one of the following correctly identifies the budgeting style used when
the budget is set 'from the bottom up'? D. Participatory
Q41. Good information should have certain qualities. Which of the following are
qualities of good information?
i. Understandable
ii. Complete
iii. Relevant
iiii. Accurate
a. All of them
Q42. A management control system is:
A set up that measures and corrects the performance of activities of subordinates
in order to make sure that the objectives of an organization are being met and
their associated plans are being carried out.
Q43. Over which of the following is the manager of the profit center likely to have
control?
i. selling prices
ii controllable costs
iii Apportioned head office costs (phân bổ từ trụ sở chính)
iv Capital investment in the centre
a. i and ii
Q44. Here are three statements on the determination of overhead absorption rates:
(1) Costs can be allocated where it is possible to identify the department that caused
them.
(2) Costs need to be apportioned where they are shared by more than one department.
(3) Service centre costs should not be included in unit overhead costs.
Which of these statements are correct?
A. (1) and (2) only
Q45. which of the following could be carried out by higher level management?
i) making short term decisions
ii) defining the objectives of the business
iii) making long run decisions
a. i, ii, iii
Q46. What is a by-product?
D. A product produced at the same time as other products which has a relatively
low value compared with the other products
Q47. Absorption costing will result in the same profit as marginal costing in which
three of the following situations?
(i) When inventory levels are constant
(ii) When opening and closing inventory volumes are the same
(iii) When no inventory is held as opening inventory and no inventory is held as
closing inventory
(iv) When opening inventory is greater than closing inventory
(v) When closing inventory is greater than opening inventory
A. (i), (ii), (iii)
Q48. A firm has used linear regression analysis to establish the relationship between
total cost and activity in units. what does the slope of the regression represent?
a) the variable cost per unit

Q49. a shop carries out repairs on customers' electronic items, eg television, video
recorders, etc. which of the following is an example of an indirect variable cost?
a) electricity for recharging repair tools
Q50. over which of the following is the manager of a profit Center likely to have
control?
i) selling prices
ii) controllable costs
iii) apportioned head office costs
iv) capital investment in the center
 a. all of the above
b. i,ii,iii
c. i,ii,iv
d. i and ii
Q52. A manufacturing company has the following budgeted and actual results for the
year:
Budgeted fixed overhead expenditure: $504,000
Budgeted activity: 42,000 machine hours
Actual fixed overhead expenditure: $515,000
Actual activity: 45,000 machine hours
What is the result of using the pre-determined fixed overhead rate for the year?
A. $11,000 under-absorbed
B. $25,000 under-absorbed
C. $25,000 over-absorbed
D. $36.000 over absorbed
OAR =504000/42000=12
12.45k=540000
540000-515000=25000
Q53.Which of the following is not a stockholding cost;
A. The opportunity cost of capital tied up
B. The cost of insurance
C. Shipping and handling costs
D. Stock obsolescence
Q54. A pet food company incur the following costs for each year of its three
different markets.
Dog food: $1.345.000
Cat food: $2,300,000
Food supplements: $985,000
If a pie chart were used to represent the proportion of costs incurred by each area,
what would be the angle of the section representing cat food?
A 179 degrees
B. 77 degrees
C. 120 degrees
D. 106 degrees
Q55. Under which sampling method is the population divided into categories?
a. Systematic
b. Quota
c. Random
d. stratified (phân tầng)
Q57.In a typical cost ledger, what is the double entry for indirect labor cost incurred?
A. DR Wages control
CR Factory Overhead control
B. DR Admin overhead control
CR Wages control
C. DR Factory Overhead control
CR Wages control
D. DR Wages control
CR Admin overhead control

Q59. Data relating to one particular stores item are as follows:

Average daily issues: 70 units
Maximum daily issues: 90 units
Minimum daily issues: 50 units
Lead time for the replenishment of stock 11 to 17 days
Reorder quantity 2,000 units
Reorder level 1,800 units
What is the maximum stock level (in units) for this store item?
A. 2,950
B. 3,100
C. 3.250 = 1800+2000-50.11
D. 3,800

Q60.The information available for a process for the month of December is as follows:
Opening WIP
12,000 units (degree of completion: 40%)
Material cost: $33,600
Conversion costs: $22,980
Materials added
48,000 units at a cost of $144,000
Conversion costs
$307,500
Closing WIP
15,000 units (degree of completion: 60%)
All material is input at the start of the process whereas conversion occurs evenly
through the process.
What is the value of closing WIP at 31 December, using the Weighted average
method of valuation?
A. $84,680
B. $99,480
C. $101,250
D. $136,200
Q62. A company uses process costing to establish the cost per unit of its output. The
following information was available for the last month:
| Input
Output
Opening stock
110,000 units
9,850 units
300 units,
100% complete for materials and 70% complete for conversion costs
Closing stock
450 units,
100% complete for materials and 30% complete for conversion costs
The company uses the weighted average method of valuing stock.
What were the equivalent units for conversion costs?
A. 9,505 units
B. 9,715 units
C. 9,775 units
D. 9,985 units
Q63. The following details have been extracted from the receivables collection
records of C Co.
Invoices paid in the month after sale 60% Invoices paid in the second month after sale
25% Invoices paid in the third month after sale 12%
Bad debts 3%
Invoices are issued on the last day of each month.
Customers paying in the month after sale are entitled to deduct a 2% settlement
discount. Credit sales values for June to September are budgeted as follows.
June $35,000
July$40,000
August$60,000
September $45,000
What is the amount budgeted to be received from credit sales in September?
A. $46.260
B. $49,480
C. $50.200
D. $50.530
Q64. The following data relates to a process for the month of May:
Input materials (500 units): $3,000
Labour and overhead: $2,670
Normal output is expected to be 9 units for every 10 units input.
Actual output was 460 units. Every item lost has SI of scrap value.
What is the cost per unit of finished output (to 2 decimal places?
A. S11.33
B. $11.67
C. $12.49
D. $12.60
Q65. At 31 December 20x1 an organization had 5,400 employees. During the year of
20x1, there were 750 left the organization, although the management had decided that
only 600 needed replacing and had recruited accordingly.
What was the labour turnover rate for the year to 31 December 20X1 (to 2 decimal
places) ?
A. 10.96%
B. 11.11%
C. 11.27% = 600/5325
D. 13.89%
Labor turnover = Replacements/ Average number of employees

Q66. Jay Co makes a product which passes through a single refining process. The
following information is available for June.
Materials 15,000kg at $1.50 per kg
Labour $2,100
Normal loss 10% of input
Scrap value of loss 56c per kg
The output for the period was 13,000 kg from the process.
There was no opening or closing inventory during June.
What is the value credited to the process account for the normal loss and the abnormal
loss for the period?
Normal loss / Abnormal loss
A. $840 / $880
B. $840 / S911
C. SNil / $280
D SRAn / SNIl

Q67. The following data relate to the overhead expenditure of a contract cleaners at
two activity level?
Square meters 13500 15500 15950
cleaned
Overheads $84865 $97015 $97850
What is the estimate of the overheads if 17000 square metres are to be cleaned if the
total fixed costs are expected to increase’ by $1000 when the square metres cleaned
exceed 16000m^2
a. $103415
b. $104415
c. $106127.5
d. $106127.5
Q68. The direct materials involved in the manufacture of a Whoople cost $2 per unit
and the direct labor is 2.50 per unit. There are also direct expenses of 0.50 per
Whoopie. Fixed costs apportioned to a Whoopie amount to $3.15. What is the prime
cost of a Whoopie?
A. $3.65
B. $4.50
C. $5.00 = 2.5+0.5+2
D. $8.15
Q69. A particular cost is fixed in total for a period?
What is the effect on the cost per unit of a reduction in activity of 50%?
a. cost per unit increase by 50%
b. cost per unit reduces by 50%
c. cost per unit increase by 100% (vì FCper unit = Total FC/level of activity)
d. cost per unit is unchanged
Q73. Consider the following incomplete statements. Which statement is/are describe
aspects of cost and management accounting?
i. Assessed the profitability of product and services
ii. provides a financial information system of management
iii. follows all accounting standards and company law
=> i and ii only
Q74. Which one of the following is true regarding good information?
a. it should be 100% accurate
b. It should be presented in a timely manner
c. It should always be in written format
d. It should always be communicated in a formal manner
Q75. The following statements relate to management accounting and financial
accounting
i. Management accounting provides information to people outside an organization to
enable them to make decisions
ii. Financial accounting provides information to facilities the production of annual
accounts
Which of the following is/are correct?
a. Statement I
 b. Statement ii
c. Both are correct
d. None is correct
Q77. A paint manufacturer has a number of departments. Each department is located
in a department located is a building on the same factory site….
The following statements related to the paint manufacturer:
i. the mixing department is cost center
ii. A suitable cost unit for the color adding department is liter tin of paint
iii. the pouring department is a profit centre
A. i only
Q78. The following statements refer to qualities of good information, which two of
the above statements are correct?
i. it should be communicated to the right person
ii. it should always be completely accurate before it is used
iii….
a. i and iii
Q79 . The following budgets have been prepared for alternative levels of output
10000 units 12000 units
$ $
Materials 35k 42k
labor 43k 51.6k
overhead 50k 50k
overhead remain fixed up to an activity level of 20000 units
What is the budgeted total cost for an activity level of 15000 units?
a. 167k = 15kx3,5
b. 192k
c. 136k
d. 154500
Q80. The following is the cost of running an advertising agency

Month Cost Number of clients

1 10k 1k
2 12k 1,5k
3 9,6k 900
What is the fixed cost of running the agency?
A. 12,000
 B. 10,000
C. 9,600
D. 6,000
Q81. The following budgets have been prepared for alternative levels of output

10,000 units 12,000 units

$ $
Materials 35,000 42,000
Labor 43,000 51,600
Overheads 50,000 50,000
Overheads remain fixed up to an activity level of 20,000 units. What is the budgeted
total cost for an activity level of 21,000 units?
A. $213,800
B. $192,000
C. $167,000
D. Impossible to find the answer without more information
Q82. An organization has the following total costs at 2 activity levels:

Activity level (units) 15,000 24,000

Total costs $380,000 $470,000
Variable cost per unit is constant in this activity range but there is a step up of $18,000
in the total fixed costs when the activity exceeds 20,000 units.
What are the total costs at an activity level of 18,000 units?
A. $404,000
B. $410,000
C. $422,000
D. $428,000

Q83. An organization has the following total costs at 3 activity levels:

Activity level 8,000 12,000 15,000

(units)
Total cost $204,000 $250,000 $274,000
What is the total cost at an activity level of 10k units?
A. $227,000
B. $224,000
 C. $220,000
D. $234,000
Q84. In relation to recording inventory movements, which of the following items of
information would be found on a bin card?
(1) Quantity of goods received
(2) Units of inventory held
(3) Unit price
(4) Inventory valuation
A. 2 and 4
B. 3 and 4
C. 1 and 2
D. I only
Q85. The annual demand for an items is 60,000 units, and the purchase costs is S10
per unit. It costs $105 to place an order, and the annual cost of holding one unit is
$1.40. What is the economic order quantity?
A. 3,000
B. 4,000
C. 5,000
D. 6,000
Q86. Are the statements true or false?
1, if holding costs decrease the EOQ will decrease
2, If ordering costs increase the EOQ will decrease
A. both are correct
B. (1) is correct
C. (2) is correct
D. None is correct
Q87.A firm uses 3,000 kilograms (kg) of raw material per annum.
Each order costs $5 to place and it costs $3 per annum to hold 1 kg of this material in
inventory. What is the EQQ of the raw material? EOQ=căn[(2x3000x5)/3]
A. 100
B. 200
C. 220
D. 250
Q88. What is the correct formula for calculating the maximum inventory control level
Reorder quantity (ADD/DEDUCT) reorder level (ADD/DEDUCT) (minimum
demand * minimum lead time)
A. ADD, ADD
B. ADD. DEDUCT
C. DEDUCT, ADD
D. DEDUCT, DEDUCT
Q89. Two documents relating to the acquisition and use of raw materials are listed
below. When is each document used?
Purchasing material
Using material
Materials requisition note
Good received note
A. Material requisition note - using material. Good received note - purchasing
material
B. Material requisition note - using material. Good received note - using material
C. Material requisition note - purchasing material. Good received note - purchasing
D. Material requisition note - purchasing material. Good received note - using material
Q90. In relation to material inventory control, which TWO of the following are
examples of stockout costs?
(1), Cost of holding buffer inventory
(2), Cost of disrupted production due to lack of inventory
(3), Loss of revenue if customers buy from other suppliers
(4), Costs of placing an order to replace depleted inventory
A. (1) and (4)
B. (3) and (4)
C. (2) and (3)
D. (1) and (3)
Q91.Order quantity 400 units
Buffer inventory. 50 units
Number of orders. 63 per period
Holding cost per unit. $6.4 per period
Cost of placing an order. $32
The following data is relevant for calculate the total costs per period of ordering
material and holding inventory:
What is the total cost per period of ordering and holding inventory?
A. $3,296
B. $3,456
C. $3,616
D. $4,896
Q93. Usage of an item is, on average, 100 units per week. Every order costs $5.78 to
place, and each unit costs $8.00 to buy. Holding costs are 1% of purchase price per
annum and a 50 week year is worked.
What is the E0Q of the raw material?
A. 60
B. 83
C. 200
D. 850
Q94. What will be the effect on the cost of materials issued if FIFO is used instead of
LIFO in a period when prices have consistently risen?
A. It will be higher
B. It will be lower
C. It will be the same
D. Cannot be predict from the information given
Q95. A company uses material X in its manufacturing process. The inventory for
material X on 1 June was 500 units valued at $1.00 each. On 11 June, 500 units were
purchased for a total cost of $525. On 14 June, 600 units were issued. The company
uses FIFO method
A. Dr WIP/ Cr material control account $605
B. Cr WIP/ Dr material control account $605
C. Dr WIP/ Cr material control account $805
D. Cr WIP/ Dr material control account $805

Q96. The following information relate to the store ledger control for period:

Opening inventory 37000

closing inventory 20000
deliveries from supplier 195000
return to supplier 3000
indirect materials issue 27000
what is the double entry to record the issue of direct materials?
A. Dr WIP/ Cr material control account $182000
B. Cr WIP/ Dr material control account $182000
C. Dr WIP/ Cr material control account $190000
D. Cr WIP/ Dr material control account $190000
Q97. Which of the following source documents should be used to update the issues of
material on a store's record card?
A. Material requisition
B. Purchase requisition
C. Material returned note
D. Goods received note
Q98. Details of the movements and cost prices of raw material XX for a period are
How many different weighted average cost prices will be used during the period for
charging the issues of material XX to the WIP account? => 4
Q99. Using the PERIODIC weighted average cost method of valuing inventory, when
is the unit price for an issue from the store calculated?
A. Whenever there is an issue from the store
B. At the start of the period in which the issue is made
C. Whenever there is a delivery into the store
D. At the end of the period in which the issue is made.
Q100. A new inventory item has been introduced by a business. The following data
has been tabulated to enable inventory control levels to be calculated

Maximum Average Minimum

Lead time (days) 20 18 16
Demand per day 300 275 250
(kg)
The EOQ of the new inventory items is 7,000 kg and the re-order level is 6,000 kg .
What is the minimum inventory control level for the new inventory item?
A. 1,050
B. 2,000
C. 2,500
D. 3,000
Q101. Excess raw material has been sent back to stores from production. Which of the
following documents should be completed?
A. Supplier credit note
B. Material requisition note
C. Material returned note
D. Material dispatch note
Q102. A company wishes to ensure that it never runs out of inventory. How is the
reorder level calculated in order to achieve this?
A. Average usage in average lead time
B. Maximum usage in minimum lead time
C. Minimum usage in maximum lead time
D. Maximum usage in maximum lead time

Q103. A retailer sells 25,000 units of a particular product and demand for the product
is even throughout the year. The product costs $12 each from the supplier and the cost
of placing an order of $20. The cost of holding one unit of inventory for one year is $4
and the economic order quantity is 500 units.
What is the total annual cost (including purchasing cost) of trading in this product?
A. $303,000
B. $302,000
C. $301.000
D. $300,000
Q104. What method of materials issue pricing is consistent with the inventory being
issued in the same order it is received?
A. Periodic weighted average
B. LIFO
C FIFO
D. cumulative weighted average
Q105. What double entry is required in the interlocking accounting system for the
return of indirect materials to inventory?
A. Dr Raw material inventory / Cr Production overhead
B. Dr Work in progress / Cr Raw materials inventory
C. Dr Raw material inventory / Cr Work in progress
D. Dr Production overhead /Cr Raw materials inventory
Q106. Data relating to one particular stores item are as follows:
Average daily issues 70 units
Maximum daily issues 90 units
Minimum daily issues 50 units
Lead time for the replenishment of stock 11 to 17 days
Reorder quantity 2,000 units
Reorder level 1,800 units
What is the maximum stock level (in units) for this stores item?
A. 2.950
B. 3,100
c. 3250
d. 3800
Q108. Philis paid 512 per hour for his first 40 hours per week, then time and a quarter
for any excess. On average he works 44 hours per week during which time he
completes 60 units.
IF Phil method of remuneration was charged to per work, what rate would he have to
be paid to match his current earrings for an average week?
A $9 per Unit
B. $8.8 per unit
C. $8.1 per unit
D. $9.2 per unit
Q109. The following relate to direct workers on Job XVZ
Productive time at basic rate 200 hour @ $12 per hour
Productive time at overtime rate 10 hours @ basic rate and a half
Idle time 20 hours @ 12 per hour
Overtime was worked at the specific request of the customer so that job XYZ would
be completed early and was paid at a basic rate and a half. Idle time was due to a
machine breakdown.
What was the direct labor cost of job XYZ?
A. $2,820
B. $2.580
C. $2,520
D. $2.400
Q110. A firm monitors labor turnover. At the beginning of the year staff numbers
were 1,600. During the year 860 staff left and 260 of these were replaced.
What is the labor turnover rate for the year?
A. 10.00%
B. 20.00%
C. 16.25%
D. 26.00%
Q112 A company has a stop of 3,000 at the beginning of 2017 during the year 340
new staff were recruited to replace employees who had left. At the end of This year
the total number of staff was $2,200.
What was the labor turnover rate for the year to the nearest 1%?
A 15%
B 13%
C 11%
D impossible to find the answer without more information
Q113. What does an activity (production volume) ratio 105%?
A. That the budget hours were greater than the actual hours
B. That the standard hours of actual output exceeded the fixed budget hours.
C That the actual hour worked exceeded the flexible budget
D. That the actual hours worked were less than the standard hours of actual output.
Q114. Which of the following describes the method of payment for labor known as
'piecework"?
A. A fixed amounts is paid per unit of output achieved, irrespective of time
spent
B. A fixed amounts is paid per unit of output achieved, based on time spent
C. A fixed amounts is paid per unit of time spent, irrespective of output achieve
D. A fixed amount is paid per unit of time spent, based on output achieved
Q115. A company records include the following labor costs for a week
$
Cost of unavoidable idle time of direct 2000 (indirect)
worker
basic wages paid to the supervisor of 3500 (indirect)
 direct workers
overtime premium of direct workers on 1750
jobs for specific customer
General overtime premium of indirect 4600 (indirect)
workers
What are the indirect labor cost for the week from these records
A 11850
B 8350
C 10100
D 4600
Q116. A jobbing company operates a premium bonus scheme for its employees of
75% of the time saved compared with the standard time allowance for a job at the
normal hourly rate. the data relating to job 1206 complete by an employee is as
follow:
Allowed time for job 1206 4 hours
time taken to complete job 1206 3 hours
Normal hourly rate of pay 8$
A 24
B 30
C 32
D 38
Q117 The following statement refer to situation occurring in prosecue of an
organization with operate a theory of consecutive processes:
(i) Direct labor is working at below the agree productivity level
(ii) Amazon breakdown has occurred
(iii) Direct labor is waiting for work to be completed in a previous process.
Week two of those situations could give rise to idle time?
A (1) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only
D none of them is correct

Q118. Accounting for overheads: Budgeted fixed overheads for the period are
$400,000 and the budgeted variable cost per unit is $10.00, Budgeted production is
80,000 units. Inventories will be 200 units higher at the end of the period than the
beginning.
Which of the following statements is correct?
"The (marginal costing/absorption costing) profit will exceed the (marginal
costing/absorption costing) profit by (52,000/S1,000)*
A. Marginal costing - absorption costing - S,1000
B. Marginal costing - Absorption costing - $2.000
C.Absorption costing - Marginal costing - $2.000
D.Absorption costing - Marginal costing - 51.000
Q119. Which of the following statements is correct in respect of a company using
absorption costing?
A. Apportionment means all departments get an equal share of overheads.
B. Any over or under-absorption of overheads is carried forward to the following
month.
C. A factory-wide overhead absorption rate is calculated by adding cach of the
departmental overhead rates together and dividing by the number of departments.
D. Closing inventory is valued at full production cost.
Q120. A company uses absorption costing with a predetermined hourly fixed
overhead absorption rate. The following situations arose last month:
(i) Actual overhead expenditure was less than the planned expenditure. (il) Actual
hours worked exceeded planned hours,
Which statement is correct?
A. Situation (i) would cause overheads to be under-absorbed and situation (in) would
cause overheads to be over-absorbed.
B Situation (i) would cause overheads to be over absorbed and situation (in)
would cause
overheads to be under-absorbed.
C. Both situations would cause overheads to be over absorbed.
D. Both situations would cause overheads to be under absorbed,
Q122. A firm recorded a profit of $50,000 under marginal costing when Inventors
increases from 1,000 units at the start of the period to 1,400 units at the end of the
period. Under absorption costing the fixed production overhead absorption rate for the
period would be $12 per mit.
What would he the profit for the period under absorption costing?
A. $54,800
10. 550,000
C. $45.200
D. None of the above is correct
Q123,Absorption costing usually involves three stages:
(1) The absorption of overheads into cost units
(2) The allocation and apportionment of budgeted overheads to cost centers
(3) The reapportionment of budgeted service cost center costs to production cost
centers
What is the correct order of these three stages?
a. 1,2,3
 b. 2,1,3
c. 1,3,2
d. 2,3,1
Q124. A job overhead on the basis of machine hours worked the following
information is given for a year:

budget actual
machine hours 2600 2400
overheads 135200 128000
What are the total under/ over absorption of overheads in the year?
A 7200 under absorbed
B 3200 under absorbed
C 7200 over absorbed
D 3200 over absorbed

Q125. A firm recorded a profit of $50,000 under absorption costing when inventory
increased from 1,000 units at the start of the period to 1,400 units at the end of the
period. The fixed production overhead absorption rate for the period would be 512 per
unit.
What would be the profit for the period under marginal costing?
A 554,800
B. 550.000
C $45.200 = 50,000-12x400
D. None of the above is correct
Q126. A firm that has two production cost centers (X and Y) Used absorption
costing. the following information has been extracted from the budget

X y total
overheads 50000 48000 98000
direct labor hours 4000 12000 16000
machine hours 10000 4000 14000
Which two of the following overhead absorption rates are the best to use based on the
above information?
A 4 per direct labor for Y And 12.5 per direct labor for X
B 4 per direct labor for Y And 5 per machine hour for X
C 12 per machine hour for Y and 5 per machine hour for X
D 12 per machine hour for Y and 12.5 per direct labor hour for X
Q128. Budgeted and profit absorption costing would be 56,700 for a period With each
unit of inventory valued at $1O. Net profit marginal costing for the same period would
be $5,500 with inventory valued at $6 per unit. What would change in inventory
during the period?
A. Increase 300 units
B. Decrease 300 units
C No change
D None of the above is correct
Q129. A firm purchases a liquid in bulk for $15 per litre. The liquid is then packaged
for sale in 20 litres containers. It is expected that 20% of the liquid that is input to
packaging will be wasted through spillage.
What is the standard cost of liquid in each 20 litre container?
A 5360
1. 5375
C $240
D. 5300
Q131. A company operates a standard marginal costing system. Last month the
company sold 200 units more than it planned to sell. The following data relate to last
month:
Standard Actual
Selling price per unit 40 38
Variable cost per unit 30 29
What was the favorable sales volume contribution variance last month?
A. $1,600
B. $1,800
C. $2.000 = (40-30)*200
D. $2.200
Q132. A firm uses flexible budgets. The budget for overheads is $45,000 based upon
production of 9,000 units. Overheads are semi-variable cost and 60% of the budgeted
overhead are fixed. In a period 8,100 units were produced.
What was the flexible overbend budget for the period?
A. $43.200
R. $42.300
C. $47,000
D. $40,500
Q133. The standard direct material cost for a product is $50 per unit (12:5 kg at $4 per
kg). Last month the actual amount paid for 45,600 kg of material purchased and used
was S173,280 and the direct material usage variance was $15,200 adverse.
What was the actual production last month?
A. 3.344 units
B. 3.520 units
C. 3,952 units
D. 4,160 units
Q134. A Company has an adverse material usage and plans to take action to eliminate
this variance in future months
Which of the following changes is LEAST likely to reduce the adverse variance
A. Purchase of better quality materials
B. More training for workers
C. Bulk buying of materials to gain a discount
D. Improved mix of materials used
Q135. An effective control is:
A. Practical without planning, and planning without control is pointless
B. Practical without planning, and planning with control is pointless
C. Not practical without planning, and planning without control is pointless
D. Not practical without planning, and planning with control is pointless
Q136. If the buffer stock level is too low, that may lead to
A. The increasing in holding cost
B. The running out of inventory
C. The higher average inventory
D. The higher maximum level of inventory
Q137. A management control system (MCS) is:
A. A possible course of action that might chable an organization to achieve its
objectives
B. A collective term for the hardware and software used to drive a database system
C. A set up that measures and corrects the performance of activities of
subordinates order to make sure that the objectives of an organization are being
met and the associated plans are being carried out
D.A system that controls and maximum the profits of an organization
Q138. graph of q46 (bieu do)
A. Total fixed costs fall after production reaches Q, but variable costs per unit
increase
B. Fixed costs are constant until production reaches Q after which fixed costs step
up to a higher level
C. Variable costs per unit are constant with output reaches Q after which all
production (from the first unit onwards) incurs higher variable cost per unit
D. Variable costs per unit are constant until output reaches Q after which
further production incurs higher variable cost per unit

Q139. Which of the following is the most useful for monitoring and controlling the
costs incurred by a freight transport organization?
 A. Cost per tonne carried
B. Cost per kilometer traveled
C. Cost per driver hour
D. Cost per tonne-kilometer
Q140. A company determines its order quantity for a raw material by using the
Economic Order Quantity (EOQ) model.
What would be the effects on the E0Q and the total annual holding cost of an increase
in the cost of ordering a batch of raw material?
A. EOQ higher, Total annual holding cost lower
B. EOQ higher, Total annual holding cost higher
C. E0O lower, Total annual holding cost higher
D. E0Q lower, Total annual holding cost lower
Q141. Employee A is a direct worker, normally works 40 hours per week.
The standard rate of pay is $3,50 per hour. A premium of 60% of the basic hourly rate
is paid for all overtime hours worked. During the last week of November, Employee A
worked for 46 hours. The abnormal hours worke were for the following reasons:
- Machine breakdown: 4 hours
To complete a special job at the request of a customer: 2 hours
How much of Employee A's earnings for the last week of November would have been
treated as direct wages?
A. $162.00
Q154. The standard direct material cost for a product is $50 per unit (12:5 kg at S4 per
kg). Last month the actual amount paid for 45,600 kg of material purchased and used
was $173,280 and the direct material usage variance was $15,200 adverse.
What was the direct material price variance last month?
A. S8,800 Adverse
B. $8.800 Favorable
C S9.120 Adverse
D. S9.120 Favorable
Actual usage * standard price =45600kg*4=182400
Direct material price = 182400-173280=9120
Q160. An organization is preparing its sales budget for the year ended 31
December 20X1. It expects to sell 2000 units of product A per month. The current sale
price is 5500 per unit and this will increase by 10% in June Demand for Product B is
declining. First quarter sales are expected to be
4000 units in total and this will drop progressively by 1000 units per quarter for each
of the next three quarters. The selling price will be constant at $300 per unit. Product
C will be introduced in September. Sales are expected to be 500 units per month at a
selling price of $100 per unit.
What is the budgeted sales revenue for the year?
A. $15.800,000
B. $15,850,000
C. $15.900.000
D. $16,800,000

Q162. A company manufactures and sells one product which requires 10 kg of raw
material in its manufacture. The budgeted data relating to the next period are as
follows:
Sales: 19.000 units
Opening inventory of finished goods: 4,000 units
Closing inventory of finished goods: 3,000 units
Opening inventory of raw materials: 50,000 kg
Closing inventory of raw materials: 53,000 kg
Wastage of raw materials incurred in the manufacturing process is expected to be
10%.
What are the budgeted raw material purchases for the next period (in kg)?
A. 203.000
B. 201.000
C. 197,000
D. 183,000

Q163, A company uses standard costing and the standard variable overhead cost for a
product is: 6 direct labour hours @ $10 per hour.
Last month when 3,900 units of the product were manufactured, the actual
expenditure on variable overheads was $235,000 and actual labour hours were 24,050
hours, including 50 hours of non-productive time.
What was the variable overhead expenditure variance for last month?
A. $5,500 Favorable
B. $5,000 Favorable
C. $6,500 Adverse
D. $6.000 Favorable

Q164, A company uses standard costing and the standard variable overhead cost for a
product is: 6 direct labour hours $10 per hour. Last month when 3,900 units of the
product were manufactured, the actual expenditure on variable overheads was
$235,000 and actual labour hours were 24,050 hours, including 50 hours of non-
productive time.
What was the variable efficiency variance for last month?
A. $5,500 Favouralbe
B. $5,000 Favourable
C. $6,500 Adverse
D. $6.000 Favourable

Q165. A company operates a standard absorption costing system. The standard fixed
production overhead rate is $15 per hour. The following data relate to last month:
Actual hours worked: 5,500
Budgeted hours 5,000
Standard hours for actual production 4,800
What was the fixed production overhead capacity variance?
A. $7,500 adverse
B. $7,500 favourable
C. $10,500 adverse
D. $10.500 favourable

Q172. An extract from next year's budget for a manufacturing company is shown
below.

Month 3. Month 4

Sales 100,000 units 120,000 units

Closing stocks of finished goods 6,000 units 8,000 units

Closing stocks of raw materials 22,000 kg 12,000 kg

Each unit requires 2 kg material. What is the budgeted material purchases (in
kilograms) for month 4? Nhu cầu sx:244, Cần mua về : 234
A. 230,000 kg
B. 234,000 kg
C. 240,000 kg
D. 244.000 kg

Q173. The following information has been supplied in connection with an

organization's labor and overhead budget:

Product A Product B
Budgeted production 8,000 units 12,000 units
Labor cost per unit Labor cost per unit
Unskilled labor (@$5/h) $15 $10
 Skilled labor (@$8/h) $16 $24
Total labor cost $31 $34

What is the total amount of skilled labor hours required in the period?
A. 40,000 hours
B. 48,000 hours
C. 52,000 hours
D. 60,000 hours

Q178. Bowen has established the following with regard to fixed overheads for the past
month:
Actual costs incurred: $132,400
Actual units produced: 5,000 units
Actual labour hours worked: 9,750 hours
Budgeted costs: $135,000
Budgeted units of production: 4,500 units
Budgeted labour hours: 9,000 hours
Overheads are absorbed on a labour hour basis. What was the fixed overhead
efficiency variance?
A. $3,750 favourable
B. $I1,250 favourable
C. $22.500 favourable
D. . $I1,250 adverse

Q179. A company uses a standard absorption costing system. Last month budgeted
production was 8,000 units and the standard fixed production overhead cost was SI5
per unit. Actual production last month was 8,500 units and the actual fixed production
overhead cost was $17 per unit.
What was the total adverse fixed production overhead variance for last month?
A. $7,500
B. $16,000
C. $17,000
D. $24.500

Q180. Jill Co manufactures a single product and has drawn up the following flexed
budget for the year.
Chụp ảnh
What would be the total cost in a budget that is flexed at the 75% level of activity?
A. $372,500
B. $360,625
C. $370.000
D. $362,500
Q181. A company uses the Economic Order Quantity (EOO) model to establish
reorder quantities. The following information relates to the forthcoming period:
Order costs = $25 per order
Holding costs = 10% of purchase price
Annual demand = 20,000 units
Purchase price = $40 per unit
No safety inventory is held. Determine EQQ first, then calculate what total annual
costs of inventory are (i.e. the total purchase cost plus total order cost plus total
holding costs)?
A. $22,000
B. $33,500
C. $802,000
D. $803,000

Q182. A company uses process costing to value output. During the last month the
following information was recorded:
Output: 2,800 kg valued at £7-50/kg
Normal loss: 300 kg which has a scrap value of E3/kg
Actual loss: 200 kg
what was the value of the input?
A. £22.650
B. £21.900
C. £21,600
D. £21.150

Q183. A company is reviewing actual performance to budget to see where there are
differences. The following standard information for one unit is relevant:
Selling price: $50
Direct materials: $4
Direct labour: $16
Fixed production overheads: $5
Variable production overheads: $10
Fixed selling costs: $1
Variable selling cost: $1
Total costs: $37
Budgeted sales units: 3,000 units
Actual sales units: 3,500 units
What was the favorable sales volume variance using marginal costing?
A. $9,500
B. $7,500
C. $7,000
D S6.500
Q184. A company manufactures a single product. An extract from a variance control
report together with relevant standard cost data is shown below:
Standard selling price per unit. $70
Standard direct material cost(3 kg x 52 per kg) $6 per unit
Budgeted total material cost. $ 2880 per month
Budgeted profit margin cost. $7200 per month
Actual results for February
Sales revenue. $15200
Total direct material cost. $2600
Direct material price variance. $800 favorable
Direct material usage variance. $ 400 adverse
There was no change in inventory levels during the month
What was the actual production in February?
A. 1,100
B. 500
C. 366
D. 866
Q185. A company manufactures a single product. An extract from a variance control
report together with relevant standard cost data is shown below:
Standard selling price per unit. 570
Standard direct material cost (3 kg x $2 per kg) $6 per unit
Budgeted total material cost. 52,880 per month
Budgeted profit margin. $7.200 per month
Actual results for February
Actual production. 500 units
There was no change in inventory levels during the month
What was the sales volume profit variance in February?
A. 300 (F) 7200/45=standard per unit
Sale volume = 500-480)*15=300
B. 300 (A)
C 1400 (F)
D. 1,400 (A)
Q186. A company manufactures a single product. An extract from a variance control
report together with relevant standard cost data is shown below:
Standard direct material cost (3 kg a 52 per kg)
Budgeted total material cast
Budgeted sales value
$6 per unit
$2,880 per month
$12,000 per month
Actual results for February
Actual sales volume
Actual sales value
500 units
$12.000
There was no change in inventory levels during the month
What was the sales price variance in February?
A 0.
B. 500 (F)
C. 500 (A)
D. Impossible to calculate without more information
Q187 The statement below is true or false?
A standard cost is a predetermined estimated unit cost, used for inventory valuation
and control => True
Q188 A standard cost is a predetermined estimated unit cost, used for pricing
decision. - True ( lanh đoán thế )
Q203. “The absence of physical product makes it difficult to determine the cost unit”
=> True
Q204. The following statement about service costing is true or false? “The absence of
physical product makes it difficult to determine cost centers” => False
Q205. The following statement about costing is true or false?
" fixed Manufacturing costs are included in the inventory valuation => True
Q206. The following statement about marginal costing is true or false?
Variable selling overhead are included In the inventory valuation False hsy
Q207. The following statement about the process of =allocating overheads is true or
false?
The charging to a cost centre of an item of overhead expense which can be directly
related to that cost center
Q218. The following statement about inventory valuation methods FIFO is true or
false? FIFO Is a historical cost method -True
Q219. Is the following statement true or false? In an absorption costing,absorption
ment is the process by which the whole cost item and charged directly to a cost unit
or call center. False
Q220 The adjustment accounting entries below for under-absorbed overhead at the
end of an accounting period is true or false?
Dr cost of goods sold
CR factory overheads

ACCA F2 Kit
1.1 Which of the following statements about qualities of good information is false?
A It should be relevant for its purposes
B It should be communicated to the right person
C It should be completely accurate
D It should be timely

1.2 The sales manager has prepared a manpower plan to ensure that sales quotas for
the forthcoming year are achieved. This is an example of what type of planning?
A Strategic planning
B Tactical planning
C Operational planning
D Corporate planning

1.3 Which of the following statements about management accounting information

is/are true?
(i) They must be stated in purely monetary terms.
(ii) Limited companies must, by law, prepare management accounts.
(iii) They serve as a future planning tool and are not used as an historical record.
A (i), (ii) and (iii)
B (i) and (ii)
C (ii) only
D None of the statements is true

1.4 Which of the following statements is/are correct?

(i) A management control system is a term used to describe the hardware and software
used to drive a database system which produces information outputs that are easily
assimilated by management.
(ii) An objective is a course of action that an organization might pursue in order to
achieve its strategy.
(iii) Information is data that has been processed into a form meaningful to the
recipient.
A (i), (ii) and (iii)
B (i) and (iii)
C (ii) and (iii)
D (iii) only
1.5 Good information should have certain qualities. Which of the following are
qualities of good information?
(i) Complete
(ii) Extensive
(iii) Relevant
(iv) Accurate
A (i), (ii) and (iii)
B (i), (iii) and (iv)
C (ii) and (iv)
D All of them

1.6 Monthly variance reports are an example of which one of the following types of
management information?
A Tactical
B Strategic
C Non-financial
D Operational

1.7 Which of the following statements is/are correct?

(i) Information for decision-making should incorporate uncertainty in some way
(ii) The data used to prepare financial accounts and management accounts are thesame
A (i) is true and (ii) is false
B (ii) is true and (i) is false
C Both are true
D Both are false

1.8 Which of the following processes occurs at the business planning stage?
A Obtaining data about actual results
B Taking corrective action
C Comparing actual performance with budget
D Establishing objectives

1.9 Which of the following statements is correct?

A Management accounting systems provide information for use in fulfilling legal
requirements
B Management accounting systems provide information for the use of decision-
makers within an organisation
C Management accounting systems provide information for use by shareholders
D Management accounting systems provide information for use by tax authorities
1.10 Which of the following would be data rather than information?
A Sales increase/decrease per product in last quarter
B Total sales value per product
C Sales made per salesman as a percentage of total sales
D Sales staff commission as a percentage of total sales

2.1 Which of the following is/are primary sources of data?

(i) Historical records of transport costs to be used to prepare forecasts for budgetary
planning
(ii) The Annual Abstract of Statistics, published by the Office for National Statistics in
the United Kingdom
(iii) Data collected by a bank in a telephone survey to monitor the effectiveness of the
bank's customer services
A (i) and (ii)
B (i) and (iii)
C (i) only
D (iii) only

2.2 The following statements relate to different types of data:

(i) Secondary data are data collected especially for a specific purpose
(ii) Discrete data can take on any value
(iii) Qualitative data are data that cannot be measured
(iv) Population data are data arising as a result of investigating a group of people or
objects
Which of the statements are true?
A (i) and (ii) only
B (ii) and (iii) only
C (ii) and (iv) only
D (iii) and (iv) only

2.3 Which of the following statements are false?

(i) If a sample is selected using random sampling, it will be free from bias.
(ii) A sampling frame is a numbered list of all items in a sample.
(iii) In cluster sampling there is very little potential for bias.
(iv) In quota sampling, investigators are told to interview all the people they meet up
to a certain quota.
A (i), (ii), (iii) and (iv)
B (i), (ii) and (iii)
C (ii) and (iii)
D (ii) only

2.4 Government statistics can be a useful source of data and information.

Which one of the following types of data is most likely to be obtained from
government statistics?
A Foreign exchange rates
B Population data
C Details of industry costs
D Interest rates

2.5 Which of the following explains the essence of quota sampling?

A Each element of the population has an equal chance of being chosen
B Every nth member of the population is selected
C Every element of one definable sub-section of the population is selected
D None of the above

3.1 A firm has to pay a 20c per unit royalty to the inventor of a device which it
manufactures and sells. How would the royalty charge be classified in the firm's
accounts?
A Selling expense
B Direct expense
C Production overhead
D Administrative overhead

3.2 Which of the following would be classed as indirect labor?

A Assembly workers in a company manufacturing televisions
B A stores assistant in a factory store
C Plasterers in a construction company
D A consultant in a firm of management consultants\

3.3 A manufacturing firm is very busy and overtime is being worked.

How would the amount of overtime premium contained in direct wages normally be
classed?
A Part of prime cost
B Factory overheads
C Direct labour costs
D Administrative overheads

3.4 A company makes chairs and tables. Which of the following items would be
treated as an indirect cost?
A Wood used to make a chair
B Metal used for the legs of a chair
C Fabric to cover the seat of a chair
D The salary of the sales director of the company

3.5 Over which of the following is the manager of a profit centre likely to have
control?
(i) Selling prices
(ii) Controllable costs
(iii) Apportioned head office costs
(iv) Capital investment in the centre
A All of the above
B (i), (ii) and (iii)
C (i), (ii) and (iv)
D (i) and (ii)

3.6 Which of the following best describes a controllable cost?

A A cost which arises from a decision already taken, which cannot, in the short run,
be changed.
B A cost for which the behaviour pattern can be easily analysed to facilitate valid
budgetary control comparisons.
C A cost which can be influenced by its budget holder.
D A specific cost of an activity or business which would be avoided if the activity
or business did not exist.

3.7 Which of the following items might be a suitable cost unit within the credit control
department of a
company?
(i) Stationery cost
(ii) Customer account
(iii) Cheque received and processed
A Item (i) only
B Item (ii) only
C Item (iii) only
D Items (ii) and (iii) only

3.8 Which of the following best describes a period cost?

A A cost that relates to a time period which is deducted as expenses for the
period and is not included in the inventory valuation.
B A cost that can be easily allocated to a particular period, without the need for
arbitrary apportionment between periods.
C A cost that is identified with a unit produced during the period, and is included in
the value of inventory. The cost is treated as an expense for the period when the
inventory is actually sold.
D A cost that is incurred regularly every period, eg every month or quarter.

3.9 A company employs four supervisors to oversee the factory production of all its
products. How would the salaries paid to these supervisors be classified?
A As a direct labour cost
B As a direct production expense
C As a production overhead
D As an administration overhead

3.10 A company manufactures and sells toys and incurs the following three costs:
(i) Rental of the finished goods warehouse
(ii) Depreciation of its own fleet of delivery vehicles
(iii) Commission paid to sales staff
Which of these are classified as distribution costs?
A (i) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only

3.11 Which of the following describes a cost centre?

A A unit of output or service for which costs are ascertained
B A function or location for which costs are ascertained
C A segment of the organisation for which budgets are prepared
D An amount of expenditure attributable to a particular activity

3.12 The overhead expenses of a company are coded using a five digit coding system,
an extract from which is as follows:
Cost centre Code no Types of expense Code no
Machining 10 Indirect materials 410
Finishing 11 Depreciation of production machinery 420
Packing 12 Indirect wages 430
Stores 13 Maintenance materials 440
Maintenance 14 Machine hire costs 450
Depreciation of non-production equipment 460
Which is the coding for the issue of indirect materials issued from stores to the
machining department?
A 10410
B 10440
C 13410
D 13440

3.13 Which one of the following statements does NOT explain why coding systems
are used?
A A code is more precise than a description so reduces ambiguity
B A code is briefer than a description so saves time
C A code is more suited to communicating wider issues than a description
D The use of codes facilitates data processing

4.1 Fixed costs are conventionally deemed to be which of the following?

A Constant per unit of output
B Constant in total when production volume changes
C Outside the control of management
D Easily controlled

4.2 The following data relate to the overhead expenditure of contract cleaners at two
activity levels.
Square meters cleaned 13,500 15,950
Overheads $84,865 $97,850
What is the estimate of the overheads if 18,300 square metres are to be cleaned?
A $96,990
B $110,305
C $112,267
D $115,039

4.8 A company has recorded the following data in the two most recent periods.
Total costs Volume of production
production $ Units
13,500 700
18,300 1,100
What is the best estimate of the company's fixed costs per period?
A $13,500
B $13,200
C $5,100
D $4,800
4.9 A production worker is paid a salary of $650 per month, plus an extra 5 cents for
each unit produced during the month. How is this type of labour cost best described?
A A variable cost
B A fixed cost
C A step cost
D A semi-variable cost

4.10 What type of cost is supervisor salary costs, where one supervisor is needed for
every ten employees added to the staff?
A A fixed cost
B A variable cost
C A mixed cost
D A step cost

4.11 The following information for advertising and sales has been established over the
past six months:
Month Sales revenue Advertising expenditure
$'000 $'000
1 155 3
2 125 2.5
3 200 6
4 175 5.5
5 150 4.5
6 225 6.5
Using the high-low method which of the following is the correct equation for linking
advertising and sales from the above data?
A Sales revenue = 62,500 + (25 × advertising expenditure)
B Advertising expenditure = - 2,500 + (0.04 × sales revenue)
C Sales revenue = 95,000 + (20 × advertising expenditure)
D Advertising expenditure = - 4,750 + (0.05 × sales revenue)

4.12 A total cost is described as staying the same over a certain activity range and then
increasing but remaining stable over a revised activity range in the short term. What
type of cost is this?
A A fixed cost
B A variable cost
C A semi-variable cost
D A stepped fixed cost

4.13 A company incurs the following costs at various activity levels:

Total cost Activity level
$ Units
250,000 5,000
312,500 7,500
400,000 10,000
Using the high-low method, what is the variable cost per unit?
A $25
B $30
C $35
D $40

4.15 An organisation manufactures a single product. The total cost of making 4,000
units is $20,000 and the total cost of making 20,000 units is $40,000. Within this
range of activity the total fixed costs remain unchanged. What is the variable cost per
unit of the product?
A $0.80
B $1.20
C $1.25
D $2.00
4.17 The total cost of production for two levels of activity is as follows:
Level 1 Level 2
Production (units) 3,000 5,000
Total cost ($) 6,750 9,250
The variable production cost per unit and the total fixed production cost both remain
constant in the range of activity shown. What is the level of fixed costs?
A $2,000
B $2,500
C $3,000
D $3,500

4.18 The following question is taken from the December 2011 exam paper.
The following shows the total overhead costs for given levels of a company's total
output.
Cost Output
$ Units
4,000 1,000
7,000 2,000
10,000 3,000
9,500 4,000
A step up in fixed costs of $500 occurs at an output level of 3,500 units.
What would be the variable overhead cost per unit (to the nearest $0.01) using the
high-low technique?
A $1.67 per unit
B $1.83 per unit
C $2.75 per unit
D $3.00 per unit

5.1 The cost of materials for product A are as follows.

Material W: $2,250
Material X: $3,000
Material Y: $3,600
Material Z: $150
If the material proportions were displayed on a pie chart, how many degrees would
material Y represent?
A 90 degrees
B 120 degrees
C 144 degrees
D 204 degrees

6.1 Which of the following functions are fulfilled by a goods received note (GRN)?
(i) Provides information to update the inventory records on receipt of goods
(ii) Provides information to check the quantity on the supplier's invoice
(iii) Provides information to check the price on the supplier's invoice
A (i) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only
D (i) only

6.2 There are 27,500 units of Part Number X35 on order with the suppliers and 16,250
units outstanding on existing customers' orders.
If the free inventory is 13,000 units, what is the physical inventory?
A 1,750
B 3,250
C 24,250
D 29,250

6.3 Based on the data above, at what level of inventory would a replenishment order
be issued?
A 600 units
B 1,125 units
C 1,710 units
D 1,750 units

6.4 Based on the data above, what is the maximum inventory level?
A 1,750 units
B 2,275 units
C 2,860 units
D 2,900 units

6.5 The annual demand for an item of inventory is 2,500 units. The cost of placing an
order is $80 and the
cost of holding an item in stock for one year is $15. What is the economic order
quantity, to the nearest
unit?
A 31 units
B 115 units
C 163 units
D 26,667 units

6.6 Which of the following is correct with regard to inventories?

(i) Stock-outs arise when too little inventory is held
(ii) Safety inventories are the level of units maintained in case there is unexpected
demand
(iii) A re-order level can be established by looking at the maximum usage and the
maximum leadtime
A (i) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only
D (i), (ii) and (iii)

6.7 What is the economic batch quantity used to establish?

Optimal
A reorder quantity
B recorder level
C order quantity
D inventory level for production

6.8 The demand for a product is 12,500 units for a three month period. Each unit of
product has a purchase price of $15 and ordering costs are $20 per order placed. The
annual holding cost of one unit of product is 10% of its purchase price. What is the
Economic Order Quantity (to the nearest unit)?
A 577
B 816
C 866
D 1,155

6.9 A company determines its order quantity for a raw material by using the Economic
Order Quantity (EOQ)
model.
What would be the effects on the EOQ and the total annual holding cost of a decrease
in the cost of
ordering a batch of raw material?
EOQ Total annual holding cost
A Higher Lower
B Higher Higher
C Lower Higher
D Lower Lower

6.10 Data relating to a particular stores item are as follows:

Average daily usage 400 units
Maximum daily usage 520 units
Minimum daily usage 180 units
Lead time for replenishment of inventory 10 to 15 days
Reorder quantity 8,000 units
What is the reorder level (in units) which avoids stockouts (running out of inventory)?
A 5,000
B 6,000
C 7,800
D 8,000

6.11 The material stores control account for a company for March looks like this:
MATERIAL STORES CONTROL ACCOUNT
$$
Balance b/d 12,000 Work in progress 40,000
Suppliers 49,000 Overhead control 12,000
Work in progress 18,000 Balance c/d 27,000
79,000 79,000
Balance b/d 27,000
Which of the following statements are correct?
(i) Issues of direct materials during March were $18,000
(ii) Issues of direct materials during March were $40,000
(iii) Issues of indirect materials during March were $12,000
(iv) Purchases of materials during March were $49,000
A (i) and (iv) only
B (ii) and (iv) only
C (ii), (iii) and (iv) only
D All of them

6.12 A manufacturing company uses 25,000 components at an even rate during a year.
Each order placed
with the supplier of the components is for 2,000 components, which is the economic
order quantity.
The company holds a buffer inventory of 500 components. The annual cost of holding
one component in
inventory is $2.
What is the total annual cost of holding inventory of the component?
A $2,000
B $2,500
C $3,000
D $4,000

6.13 A company wishes to minimize its inventory costs. Order costs are $10 per order
and holding costs are
$0.10 per unit per month. Fall Co estimates annual demand to be 5,400 units.
What is the economic order quantity?
A 949 units
B 90,000 units
C 1,039 units
D 300 units

6.14 For a particular component, the re-order quantity is 6,000 units and the average
inventory holding is 3,400 units.
What is the level of safety inventory (in whole units)?
A 400
B 3,400
C 3,000
D 6,400

6.15 The following data relates to component L512:

Ordering costs $100 per order
Inventory holding costs $8 per unit per annum
Annual demand 1,225 units
What is the economic order quantity (to the nearest whole unit)?
A 175 units
B 62 units
C 44 units
D 124 units

6.16 The following data relate to inventory item A452:

Average usage 100 units per day
Minimum usage 60 units per day
Maximum usage 130 units per day
Lead time 20-26 days
EOQ 4,000 units
What is the maximum inventory level?
A 3,380 units
B 6,180 units
C 7,380 units
D 8,580 units

6.17 ACB Co gradually receives its re-supply of inventory at a rate of 10,000 units a
week. Other information is available as follows.
Weekly demand 5,000 units
Set-up costs for each production run $125
Weekly cost of holding one unit $0.0025
What is the economic production run?
A 1,577 units
B 7,071 units
C 31,623 units
D 894,427 units

6.19 A company uses an item of inventory as follows.

Purchase price $25 per unit
Annual demand 1,800 units
Ordering cost $32
Annual holding cost $4.50 per unit
EOQ 160 units
What is the minimum total cost assuming a discount of 2% applies to the purchase
price and to holding
costs on orders of 300 and over?
A $45,720.00
B $44,953.50
C $45,000.00
D $44,967.00

6.20 The following information relates to questions 6.20 and 6.21.

G Co makes the following purchases and sales.
1 January Purchases 4,000 units for $10,000
31 January Purchases 1,000 units for $2,000
15 February Sales 3,000 units for $13,000
28 February Purchases 1,500 units for $3,750
14 March Sales 500 units for $1,200
At 31 March which of the following closing inventory valuations using FIFO is
correct?
A $8,000
B $7,500
C $7,000
D $6,500

6.21 At 31 March which of the following closing inventory valuations using LIFO is
correct?
A $6,500
B $7,000
C $7,500
D $8,000

6.22 A wholesaler had opening inventory of 300 units of product Emm valued at $25
per unit at the
beginning of January. The following receipts and sales were recorded during January.
Date 2 Jan 12 Jan 21 Jan 29 Jan
400
Issues 250 200 75
The purchase cost of receipts was $25.75 per unit. Using a weighted average method
of valuation,
calculate the value of closing inventory at the end of January.
A $11,550
B $4,492
C $4,192
D $9,550
PHÂN THEO Chữ cái đầu tiên tìm cho dễ : Kiểu hết Các câu chữ đầu tên A sau
đến B sau đến C…
( chú ý đáp án ghi thẳng luôn sau câu hỏi )
Vdu: 1. A business plan in life-cycle of a new product is? (Đây là câu hỏi )
⇒đáp án của nó là [Strategic plan] đáp án màu Hồng nhé .
TÊN TIÊU ĐỀ MÀ DÀI QUÁ là sẽ … nhớ phần đầu thui nhé sau nhớ key là ok
nha

Chữ cái đầu tiên :

1. A business plan in life-cycle of a new product is?

Strategic plan (vòng đời dài hạn mang tính chiến luợc)

2. A business manager needs?

A combination of financial and non-financial information

3. A company makes one delivery per week to all of its customers. Cost of these
deliveries is:

A selling and distribution cost

4. A cost which contains both fixed and variable components and partly affected
by changes in the level of activities is known as
A semi-variable cost

5. ABC systems assign overheads to:

Each major activity

6. A budget that consists of a budgeted statement of profit or loss, a budgeted

statement of financial position and a cash budget is:
A master budgets
7. 'A budget allowance which is set without permitting the ultimate budget
holder to have the opportunity to participate in the budgeting process is the term
of which following budget?
Imposed/Top-down budget

8. 'A budgeting system in which all budget holders are given the opportunity to
participate in setting their own budgets' is the term of which following
budgetting system?
Proposed/Bottom-up budget

9. A management control system is:

A set up that measures and corrects the performance of activities of subordinates

in order to make sure that the objectives of an organization are being met and
their associated plans are being carried out.

10. Absorption costing will result in the same profit as marginal costing in which
three of the following situations?

(i) When inventory levels are constant

(ii) When opening and closing inventory volumes are the same

(iii) When no inventory is held as opening inventory and no inventory is held as

closing inventory

(i), (ii), (iii)

11. A firm has used linear regression analysis to establish the relationship
between total cost and activity in units. What does the slope of the regression
represent?
The variable cost per unit

12. A shop carries out repairs on customers' electronic items, eg television, video
recorders, etc. which of the following is an example of an indirect variable cost?
Electricity for recharging repair tools

13. A manufacturing company has the following budgeted and actual results for
the year:
What is the result of using the pre-determined fixed overhead rate for the year?

$25,000 over-absorbed

14. A pet food company incur the following costs for each year of its three
different markets.

If a pie chart were used to represent the proportion of costs incurred by each
area, what would be the angle of the section representing cat food?

179 degrees

15. A company uses process costing to establish the cost per unit of its output.
The following information was available for the last month:

What were the equivalent units for conversion costs?

9,985 units

16. At 31 December 20x1 an organization had 5,400 employees. During the year
of 20x1, there were 750 left the organization, although the management had
decided that only 600 needed replacing and had recruited accordingly.

What was the labor turnover rate for the year to 31 December 20X1 (to 2
decimal places)?

11.27%=600/5325

17. A particular cost is fixed in total for a period?

What is the effect on the cost per unit of a reduction in activity of 50%?

Cost per unit increase by 100% (vì FCper unit = Total FC/level of activity)

18. A paint manufacturer has a number of departments. Each department is

located in a department located is a building on the same factory site.... The
following statements related to the paint manufacturer: i. the mixing department
is cost center

i only
19. An organization has the following total costs at 2 activity levels:

What are the total costs at an activity level of 18,000 units?

S404,000

20. An organization has the following total costs at 3 activity levels:

What is the total cost at an activity level of 10k units

S220,000

21. Are the statements true or false?

1, if holding costs decrease the EOQ will decrease

2, If ordering costs increase the EOQ will decrease

None is correct

22. A firm uses 3,000 kilograms (kg) of raw material per annum.

Each order costs $5 to place and it costs $3 per annum to hold 1 kg of this
material in inventory, What is the EQQ of the raw material?
EOQ=căn[(2x3000x5)/3]

24. A new inventory item has been introduced by a business. The following data
has been tabulated to enable inventory control levels to be calculated 1,050

25. A company wishes to ensure that it never runs out of inventory. How is the
reorder level calculated in order to achieve this?
Maximum usage in maximum lead time

27. A firm monitors labor turnover. At the beginning of the year staff numbers
were 1,600. During the year 860 staff left and 260 of these were replaced. What is
the labor turnover rate for the year?
20.00%
28. A company has a stop of 3,000 at the beginning of 2017 during the year 340
new staff were recruited to replace employees who had left. What was the labor
turnover rate for the year to the nearest 1%?
13%

29. A company records include the following labor costs for a week

What are the indirect labor cost for the week from these records
10100

30. A jobbing company operates a premium bonus scheme for its employees of
75% of the time saved compared with the standard time allowance for a job at
the normal hourly rate. the data relating to job 1206 complete by an employee is
as follow:
30

31. Accounting for overheads: Budgeted fixed overheads for the period are
$400,000 and the budgeted variable cost per unit is $10,00, Which of the
following statements is correct?
"The (marginal costing/absorption costing) profit will exceed the (marginal
costing/absorption costing) profit by (52,000/S1,000)

32. A company uses absorption costing with a predetermined hourly fixed

overhead absorption rate. The following situations arose last month:

(i) Actual overhead expenditure was less than the planned expenditure. (ii)
Actual hours worked
exceeded planned hours, Which statement is correct?

B Situation (i) would cause overheads to be over absorbed and situation (in)
would cause overheads to be under-absorbed.

32. A firm recorded a profit of $50,000 under marginal costing when Inventors
increases from 1,000 units at the start of the period to 1,400 units at the end of
the period. Under absorption costing the fixed production overhead absorption
rate for the period would be $12 per mit. What would he the profit for the period
under absorption costing?

$54,800
33. Absorption costing usually involves three stages:

(1) The absorption of overheads into cost units

(2) The allocation and apportionment of budgeted overheads to cost centers
(3) The reapportionment of budgeted service cost center costs to production cost
centers

What is the correct order of these three stages?

2,3,1

34. A job overhead on the basis of machine hours worked the following
information is given for a year: What are the total under/ over absorption of
overheads in the year?
3200 over absorbed

35. A firm recorded a profit of $50,000 under absorption costing when inventory
increased from 1,000 What would be the profit for the period under marginal
costing?
$45.200=50,000-12x400

36. A firm that has two production cost centers (X and Y) Used absorption
costing. the following Which two of the following overhead absorption rates are
the best to use based on the above information?
4 per direct labor for Y And 5 per machine hour for X

37. A firm purchases a liquid in bulk for $15 per litre. The liquid is then
packaged for sale in 20 litres containers. It is expected that 20% of the liquid that
is input to packaging will be wasted through spillage.

What is the standard cost of liquid in each 20 litre container?

A 5360
B.5375
C S240
D.5300

38. A company operates a standard marginal costing system . Last month the
company sold 200 units more than it planned to sell. The following data relate to
last month: What was the favourable sales volume contribution variance last
month?
$2.000

39. A firm uses flexible budgets. The budget for overheads is $45,000 based upon
production of 9,000 units. What was the flexible overbend budget for the period?
$43.200

40. A Company has an adverse material usage and plans to take action to
eliminate this variance in future months. Which of the following changes is
LEAST likely to reduce the adverse variance Bulk buying of materials to gain a
discount

41. An effective control is:

Not practical without planning, and planning without control is pointless

42. A management control system (MCS) is:

A set up that measures and corrects the performance of activities of
subordinates order to make sure that the objectives of an organization are being
met and the associated plans are being carried out

43.A company determines its order quantity for a raw material by using the
Economic Order Quantity (EOQ) model. What would be the effects on the EOQ
and the total annual holding cost of an increase in the cost of ordering a batch of
raw material?

EOQ higher, Total annual holding cost higher

44.An organization is preparing its sales budget for the year ended 31 December
20X1. What is the budgeted sales revenue for the year?
$15.900.000

45. A company manufactures and sells one product which requires 10 kg of raw
material in its manufacture. The budgeted data relating to the next period are as
follows:
What are the budgeted raw material purchases for the next period (in kg)?

203.000
46. A company uses standard costing and the standard variable overhead cost for
a product is: 6 direct labour hours @ $10 per hour.

What was the variable overhead expenditure variance for last month?
$5,500 Favorable

47. A company uses standard costing and the standard variable overhead cost for
a product is: What was the variable efficiency variance for last month?
$6,000 Adverse

48. A company operates a standard absorption costing system What was the
fixed production overhead capacity variance?

$7,500 favourable

49. An extract from next year's budget for a manufacturing company is shown
below. Each unit requires 2 kg material. What is the budgeted material
purchases (in kilograms) for month 4?
234,000kg

50.A company uses a standard absorption costing system. What was the total
adverse fixed production overhead variance for last month?
$17,000

51.A company uses the Economie Order Quantity (EOO) model to establish
reorder quantities. The following information relates to the forthcoming period:
Determine EQQ first, then calculate what total annual costs of inventory are (i.e.
the total purchase cost plus total order cost plus total holding costs)?

S802,000

52.A company uses process costing to value output. During the last month the
following information was recorded:

What was the value of the input?

£21.150
53.A company is reviewing actual performance to budget to see where there are
differences. What was the favorable sales volume variance using marginal
costing?
$9,500

54. A company manufactures a single product. An extract from a variance

control report together with relevant standard cost data is shown below:

What was the actual production in February?

500

55. A company manufactures a single product. An extract from a variance

control report together with relevant standard cost data is shown below:
What was the sales volume profit variance in February?

300 (F) 7200/45 standard per unit

Sale volume=(500-480)*15=300

56. A company manufactures a single product. An extract from a variance

control report together with relevant standard cost data is shown below: What
was the sales price variance in February? 500 (A)

57.A firm has to pay a 20c per unit royalty to the inventor of a device which it
manufactures and sells. How would the royalty charge be classified in the firm's
accounts?
Direct expense

58.A manufacturing firm is very busy and overtime is being worked. How would
the amount of overtime premium contained in direct wages normally be classed?
Factory overheads

59.A company makes chairs and tables. Which of the following items would be
treated as an indirect cost?
The salary of the sales director of the company

60.A company employs four supervisors to oversee the factory production of all
its products, How would the salaries paid to these supervisors be classified?
As a production overhead
61.A company manufactures and sells toys and incurs the following three costs:
(i) Rental of the finished goods warehouse
(ii) Depreciation of its own fleet of delivery vehicles
Which of these are classified as distribution costs?

(i) and (ii) only

62.A company has recorded the following data in the two most recent periods.
What is the best estimate of the company's fixed costs per period?
$5,100

63.A production worker is paid a salary of $650 per month, plus an extra 5 cents
for each unit produced during the month. How is this type of labour cost best
described?
A semi-variable cost

64.A total cost is described as staying the same over a certain activity range and
then increasing but remaining stable over a revised activity range in the short
term. What type of cost is this?
A stepped fixed cost

65.A company incurs the following costs at various activity levels: Using the high-
low method, what is the variable cost per unit?
$30

66.An organisation manufactures a single product. The total cost of making 4,000
units is $20,000 and the total cost of making 20,000 units is $40,000. Within this
range of activity the total fixed costs remain unchanged. What is the variable cost
per unit of the product?
$1.25

67.A company determines its order quantity for a raw material by using the
Economic Order Quantity (EOQ) model.

What would be the effects on the EOQ and the total annual holding cost of a
decrease in the cost of ordering a batch of raw material? EOQ Total annual
holding cost
Lower Lower
68.A manufacturing company uses 25,000 components at an even rate during a
year. Each order placed with the supplier of the components is for 2,000
components, What is the total annual cost of holding inventory of the
component? $3,000

69.A company wishes to minimize its inventory costs. Order costs are $10 per
order and holding costs are $0.10 per unit per month. Fall Co estimates annual
demand to be 5,400 units.

What is the economic order quantity?

300 units

70.ACB Co gradually receives its re-supply of inventory at a rate of 10,000 units

a week. Other information is available as follows. What is the economic
production run?
31,623 units

71.A company uses an item of inventory as follows.

What is the minimum total cost assuming a discount of 2% applies to the

purchase price an to holding costs on orders of 300 and over? $44,953.50

1.Bowen has established the following with regard to fixed overheads for the past
month: Overheads are absorbed on a labour hour basis. What was the fixed
overhead efficiency variance?
$3,750 favourable

2.Budgets for the various functions and departments of an organization are:

Functional budgets

C
1.Consider the following incomplete statements. Which statement is/are describe
aspects of cost and management accounting?

i. Assessed the profitability of product and services

ii. provides a financial information system of management

i and ii only

1. Data relating to one particular stores item are as follows:

What is the maximum stock level (in units) for this store item?

3.250= 1800+2000-50.11

2. Data relating to a particular stores item are as follows: What is the reorder
level (in units) which avoids stockouts (running out of inventory)?
7,800

3.Details of the movements and cost prices of raw material XX for a period are

How many different weighted average cost prices will be used during the period
for charging the issues of material XX to the WIP account?
4

4. Data relating to one particular stores item are as follows:

What is the maximum stock level (in units) for this stores item?

3250

E
1. Employee A is a direct worker, normally working 40 hours per week.

The standard rate of pay is $3,50 per hour. A premium of 60% of the basic
hourly rate is paid for all... How much of Employee A's earnings for the last week
of November would have been treated as direct wages?
$162.00

2. Excess raw material has been sent back to stores from production. Which of
the following documents should be completed?

Material returned note

F

1.Fixed costs are conventionally deemed to be which of the following?

Constant in total when production volume changes

2.For a particular component, the re-order quantity is 6,000 units and the
average inventory holding is 3,400 units.

What is the level of safety inventory (in whole units)?

400

1.Graph of 946 (bieu do)

Variable costs per unit are constant until output reaches Q after which further
production incurs higher variable cost per unit

2.Good information should have certain qualities. Which of the following are
qualities of good information?

(i) Complete (iii) Relevant

(iv) Accurate

>(i), (iii) and (iv)

3.Government statistics can be a useful source of data and information. Which

one of the following types of data is most likely to be obtained from government
statistics?

Population data

3.Good information should have certain qualities. Which of the following are
qualities of good information?
i. Understandable
ii. Complete
iii. Relevant
iv. Accurate
a. All of them

1. Here are three statements on the determination of overhead absorption rates:

(1) Costs can be allocated where it is possible to identify the department that
caused them.

(2) Costs need to be apportioned where they are shared by more than one
department.

Which of these statements are correct?

(1) and (2) only

1.If the buffer stock level is too low, that may lead to
The running out of inventory

2.In a process account, how are abnormal gains valued?

The same as good production

3. In process costing, a joint product is:

A product which is produced simultaneously with other products and is of

similar value to at least one of the other products

4. In a typical cost ledger, what is the double entry for indirect labor cost
incurred?
C. DR Factory Overhead control
CR Wages control

5. In relation to recording inventory movements, which of the following items of

information would be found on a bin card?

(1) Quantity of goods received

(2) Units of inventory held

1 and 2

6. In relation to material inventory control, which TWO of the following are

examples of stockout costs?

(2), Cost of disrupted production due to lack of inventory

(3), Loss of revenue if customers buy from other suppliersu

(2) and (3)

1.Jill Co manufactures a single product and has drawn up the following flexed
budget for the year. Chup anh What would be the total cost in a budget that is
flexed at the 75% level of activity? $362,500

2.If an assembly line supervisor is paid a salary of $100 cach which and
additional $0.10 for every unit of production made in the week, this wage could
be described as

A semi-variable cost

3. Jay Co makes a product which passes through a single refining process. The
following information is available for June.

What is the value credited to the process account for the normal loss and the
abnormal loss for the
period?

Normal loss / Abnormal loss

$840/$880

Monthly variance reports are an example of which one of the following types of
management information?
Tactical

1.Overtime premium paid for direct worker in general overtime is classified as

Indirect cost

2. Overheads related to only one cost center should be

Allocated

3.Overheads related to more than one cost center should be

Apportioned : chia thành từng phần

4. Over which of the following is the manager of a profit centre likely to have
control?

(i) Selling prices (ii) Controllable costs

=> (i) and (ii)

5.Over which of the following is the manager of the profit center likely to have
control?

i. selling prices

ii controllable costs

i and ii

6. Over which of the following is the manager of a profit Center likely to have
control?

i) selling prices ii) controllable costs

i and ii
7. Order quantity 400 units

What is the total cost per period of ordering and holding inventory?

$3,616
P

1. Prime cost is:

The total of direct costs (direct material+direct labor+direct expenses)

2. Philis paid $12 per hour for his first 40 hours per week, then time and a
quarter for any excess. On average he works 44 hours per week during which
time he completes 60 units.
$9 per unit

1.Re-apportionment is a stage, in that

Overhead is shared from service centres to production centres

1. The standard direct material cost for a product is S50 per unit (12:5 kg at $4
per kg). What was the actual production last month?
3.344 units

2.The standard direct material cost for a product is $50 per unit (12:5 kg at S4
per kg). What was the direct material price variance last month?

S9.120 Favorable

3.The following information has been supplied in connection with an

organization's labor and overhead budget: What is the total amount of skilled
labor hours required in the period?
52,000 hours

4.The sales manager has prepared a manpower plan to ensure that sales quotas
for the forthcoming year are achieved. This is an example of what type of
planning?
Tactical planning
5.The following statements relate to different types of data:
(iii) Qualitative data are data that cannot be measured

(iv) Population data are data arising as a result of investigating a group of people
or objects

Which of the statements are true?

(iii) and (iv) only

6.The statement "a plan of what the organisation is aiming to achieve and what it
has set as a target whereas a forecast is an estimate of what is likely to occur in
the future" is the term of?
Fixed Budget

7. The statement "a budget which is designed to remain unchanged regardless of

the volume of output or sales achieved" is the term of?
Fixed Budget

8. The statement "a budget which, by recognising different cost behaviour

patterns, is designed to change as volumes of output change" is the term of?
Flexible Budget

9. The overhead expenses of a company are coded using a five digit coding
system, an extract from which is as follows: Which is the coding for the issue of
indirect materials issued from stores to the machining department?

10410

10, The following data relate to the overhead expenditure of contract cleaners at
two activity levels. What is the estimate of the overheads if 18,300 square metres
are to be cleaned?
$110,305

11. The following information for advertising and sales has been established over
the past six monthis: Using the high-low method which of the following is the
correct equation for linking advertising and sales from the above data?

Salesrevenue=62,500+(25xadvertisingexpenditure)
12. The total cost of production for two levels of activity is as follows: The
variable production cost per unit and the total fixed production cost both remain
constant in the range of activity shown. What is the level of fixed costs?
$3,000

13. The following question is taken from the December 2011 exam paper. The
following shows the total overhead costs for given levels of a company's total
output. What would be the variable overhead cost per unit (to the nearest $0.01)
using the high-low technique?
$1.67 per unit

14. The cost of materials for product A are as follows. If the material proportions
were displayed on a pie chart, how many degrees would material Y represent?
144 degrees

15. There are 27,500 units of Part Number X35 on order with the suppliers and
16,250 units outstanding on existing customers' orders. If the free inventory is
13,000 units, what is the physical inventory?

1,750
Based on the data above, at what level of inventory would a replenishment order
be issued? 1,710 units

Based on the data above, what is the maximum inventory level? 2,860 units
Based on the data above, what is the maximum inventory level? 2,860 units

16. The information available for a process for the month of December is as
follows:

What is the value of closing WIP at 31 December, using the Weighted average
method of valuation?

$99,480

17. The following details have been extracted from the receivables collection
records of C Co.

What is the amount budgeted to be received from credit sales in September?

$49,480
18. The following data relates to a process for the month of May: What is the cost
per unit of finished output (to 2 decimal places?

$12.49

19. The annual demand for an item of inventory is 2,500 units. The cost of
placing an order is $80 and the cost of holding an item in stock for one year is
$15. What is the economic order quantity, to the nearest unit?
163 units

20. The annual demand for an item of inventorv is 2,500 units. The cost of
placing an order is $80 and the cost of holding an item in stock for one vear is
$15. What is the economic order quantity, to the nearest unit?
163 units

21. The following data relate to the overhead expenditure of a contract cleaners
at two activity level?

What is the estimate of the overheads if 17000 square metres are to be cleaned if
the total fixed costs are expected to increase' by $1000 when the square metres
cleaned exceed 16000m^2

$104415

22. The direct materials involved in the manufacture of a Whoople cost $2 per
unit and the direct labor is 2.50 per unit. There are also direct expenses of 0.50
per Whoopie. Fixed costs apportioned to a Whoopie amount to $3.15. What is the
prime cost of a Whoopie?

$5.00=2.5+0.5+2

23. The demand for a product is 12,500 units for a three month period. Each unit
of product has a purchase price of $15 and ordering costs are $20 per order
placed. The annual holding cost of one unit of product is 10% of its purchase
price. What is the Economic Order Quantity (to the nearest unit)?

1,155

25. The material stores control account for a company for March looks like this:
(ii) Issues of direct materials during March were $40,000
(iii) Issues of indirect materials during March were $12,000
(iv) Purchases of materials during March were $49,000

(ii), (iii) and (iv) only

26. The following statements relate to management accounting and financial

accounting

ii. Financial accounting provides information to facilities the production of

annual accounts

Which of the following is/are correct?

Statement ii

27. The following statements refer to qualities of good information, which two of
the above statements are correct?

i. it should be communicated to the right person

ii. it should always be completely accurate before it is used

i and iii

28. The following budgets have been prepared for alternative levels of output
overhead remain fixed up to an activity level of 20000 units

What is the budgeted total cost for an activity level of 15000 units?

167k= 15kx3,5

29. The following is the cost of running an advertising agency

What is the fixed cost of running the agency?

6,000
30. The following budgets have been prepared for alternative levels of
output.Overheads remain fixed up to an activity level of 20,000 units. What is the
budgeted total cost for an activity level of 21,000 units?

Impossible to find the answer without more information

31. The following data relates to component L512:

What is the economic order quantity (to the nearest whole unit)?
175 units

32. The following data relate to inventory item A452: What is the maximum
inventory-level?

6,180 units

33. The annual demand for an items is 60,000 units, and the purchase costs is S10
per unit. It costs $105 to place an order, and the annual cost of holding one unit is
$1.40. What is the economic order quantity?
3,000

34. The following information relates to questions 6.20 and 6.21.

At 31 March which of the following closing inventory valuations using FIFO is

correct?
$7,000
At 31 March which of the following closing inventory valuations using LIFO is
correct? $7,500

35. Two documents relating to the acquisition and use of raw materials are listed
below. When is each document used?

Material requisition note - using material. Good received note - purchasing

material

36. The following relate to direct workers on Job XVZ raam

What was the direct labor cost of job XYZ?

$2.580
37. The following statement refer to situation occurring in prosecue of an
organization with operate a theory of consecutive processes:

(ii) Amazon breakdown has occurred

(iii) Direct labor is waiting for work to be completed in a previous process.

Week two of those situations could give rise to idle time?

(ii) and (iii) only

1. Under which sampling method is the population divided into categories?

stratified (phân tầng )

2. Usage of an item is, on average, 100 units per weck. Every order costs $5.78 to
place, and each unit costs $8.00 to buy. Holding costs are 1% of purchase price
per annum and a 50 week year is worked.

What is the EOQ of the raw material?

850

3. Using the PERIODIC weighted average cost method of valuing inventory,

when is the unit price for an issue from the store calculated?

At the end of the period in which the issue is made.

1.Which of the following is the most useful for monitoring and controlling the
costs incurred by a freight transport organization?
Cost per tonne-kilometer

2.Which of the following is not a financial information?

Canteen facilities
3. Which of the following costs would NOT be the concern of the supervisor of a
production department?
Lease payments on a machine

4. Which of the following costs are fixed per unit but change in total, as
production level changes?

Variable cost

5. What is the 'lead time' in inventory control?

The time between placing an order with a supplier, and the inventory becoming
available for use

6. Which of the following formulas describe "reorder level'?

Maximum usage x Maximum leadtime

7. Which of the following is the best description of "EOQ"?

The economic order quantity (EOQ) is the order quantity which minimises
inventory costs

8. Which formula belows is used for "Time work" wages calculation?

Wages = Hours worked x Rate of pay per hour

9.Which statement as follow is the best describe about overtime premium?

Overtime premium is the extra rate per hour which is paid, not the whole of the
payment for overtime hours

10.Which of the following statements about qualities of good information is false?

It should be completely accurate

11.Which of the following statements about management accounting information

is/are true?

None of the statements is true

12. Which of the following statements is/are correct?

(iii) Information is data that has been processed into a form meaningful to the
recipient.

(iii) only

13. What is marginal cos?

The variable cost of one unit of product or service

13. What is marginal production cost?

The variable production cost of one unit of product
14. What is one of principles of marginal costing? Period fixed costs are the same,
for any volume of sales and production

15. Which costing as belows is a method applied where work is undertaken to

customer's special requirements and each order is of comparatively short
duration?

Job Costing

16. Which costing as follows is a method used where it is not possible to identify
separate units of production, or jobs, usually because of the continuous nature of
the production processes involved

Process Costing

17.Which of the following statements is/are correct?

(i) Information for decision-making should incorporate uncertainty in some way

(ii) The data used to prepare financial accounts and management accounts are
the same
Both are true

18.Which of the following processes occurs at the business planning stage?

Establishing objectives

19.Which of the following statements is correct?

Management accounting systems provide information for the use of decision-

makers within an organisation
20. Which of the following would be data rather than information?
Total sales value per product

21.Which of the following is/are primary sources of data? (iii) Data collected by a
bank in a telephone survey to monitor the effectiveness of the bank's customer
services
>(iii) only

22.Which statement about equivalent units is true?

Equivalent units are notional whole units which represent incompleted work

23. What are joint products?

Two or more products separated in a process, each of which has a significant
value compared to the other

24. What are by-products?

Incidental products from a process which has an insignificant value compared to
the main product.

25. Which of the following statements are false?

(ii) A sampling frame is a numbered list of all items in a sample. (iii) In cluster
sampling there is very little potential for bias.

(ii) and (iii)

26. Which line-up as follows is suitable for a product life cycle?

Introduction, Growth, Decline, Maturity

27. Which stage of a product life is aimed by target costing?

Development and design stage

28. Which of the following explains the essence of quota sampling?

None of the above

29. Which of the following would be classed as indirect labor?

A stores assistant in a factory store
30.Which of the following are functional budgets? i. Purchasing budget
ii. Cash budget
iii. Sales budget
iv. Marketing cost budget
i. iii and iv

31. Which of the following best describes a controllable cost?

A specific cost of an activity or business which would be avoided if the activity or
business did not exist.

32. Which of the following items might be a suitable cost unit within the credit
control department of a company?

(ii) Customer account

(iii) Cheque received and processed

Items (ii) and (iii) only

33 Which of the following best describes a period cost?

A cost that relates to a time period which is deducted as expenses for the period
and is not
included in the inventory valuation.

34.Which one of the following correctly identifies the budgeting style used when
the budget is set 'from the bottom up?
Participatory

35. Which of the following describes a cost centre? A function or location for
which costs are ascertained

36. Which one of the following statements does NOT explain why coding systems
are used?
A.A code is more precise than a description so reduces ambiguity
B. A code is briefer than a description so saves time
C. A code is more suited to communicating wider issues than a description
D. The use of codes facilitates data processing

37. Which of the following could be carried out by higher level management?

i) making short term decisions

ii) defining the objectives of the business

ii) making long run decisions

i, ii, iii

38. What is a by-product?

A product produced at the same time as other products which has a relatively
low value compared with the other products

39. What type of cost is supervisor salary costs, where one supervisor is needed
for every ten employees added to the stafl?
A step cost

40. Which of the following is not a stockholding cost;

Shipping and handling costs

41. Which of the following functions are fulfilled by a goods received note
(GRN)?
(i) Provides information to update the inventory records on receipt of goods
(ii) Provides information to check the quantity on the supplier's invoice
(i) and (ii) only

42.Which of the following is correct with regard to inventories?

(i) Stock-outs arise when too little inventory is held
(ii) Safety inventories are the level of units maintained in case there is unexpected
demand (iii) A re-order level can be established by looking at the maximum
usage and the maximum leadtime
(i), (ii) and (iii)

43.What is the economic batch quantity used to establish?

order quantity

44.Which one of the following is true regarding good information?

It should be presented in a timely manner
45. What is the correct formula for calculating the maximum inventory control
level

Reorder quantity (ADD/DEDUCT) reorder level (ADD/DEDUCT) (minimum

demand minimum lcad time)
ADD. DEDUCT

46. What will be the effect on the cost of materials issued if FIFO is used instead
of LIFO in a period when prices have consistently risen?
It will be lower

47. Which of the following source documents should be used to update the issues
of material on a store's record card?
Material requisition

48. What method of materials issue pricing is consistent with the inventory being
issued in the same order it is received?
FIFO

49. What double entry is required in the interlocking accounting system for the
return of indirect materials to inventory?

Dr Production overhead /Cr Raw materials inventory

50. Which of the following describes the method of payment for labor known as
'piecework"?

A fixed amounts is paid per unit of output achieved, irrespective of time spent

50. Which of the following statements is correct in respect of a company using

absorption costing?

Closing inventory is valued at full n prolle production cost.

True and False

The statement below is true or false?

Q1.A standard cost is a predetermined estimated unit cost, used for inventory
valuation and control
True

Q2 A standard cost is a sedntob uyman estimated unit cost, used for pricing
decision. - True
Q3 "The absence of physical product makes it difficult to determine the cost
unit"=>True

Q4. The following statement about service costing is true or false? "The absence
of physical product makes it difficult to determine cost centers"=> False

Q5. The following statement about costing is true or false? " fixed
Manufacturing costs are included in the inventory valuation
True

Q6. The following statement about marginal costing is true or false? Variable
selling overhead are included In the inventory valuation
False

Q7. The following statement about the process of =allocating overheads is true or
false? F The charging to a cost center of an item of overhead expense which can
be directly related to that cost center

Q8. The following statement about inventory valuation methods FIFO is true or
false? FIFO Is a historical cost method -True

Q9. Is the following statement true or false? In an absorption costing,absorption

ment is the process by which the whole cost item and charged directly to a cost
unit or call center. False

Q10 The adjustment accounting entries below for under-absorbed overhead at

the end of an accounting period is true or false?=True Dr cost of goods sold CR
factory overheads

Note theme