Incorrect answers were roughly evenly spread around the 3 distracters, suggesting a misunderstanding of under- or over- absorption or possibly a high level of guessing. Material Conversion costs A 25 litres 25 litres B 25 litres 50 litres C 50 litres 25 litres D 50 litres 50 litres 2 marks What is the total cost of job number ?
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Data for June are as follows.
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A cost centre acts as a 'collecting place' for costs before they are analysed further. In fact units were produced. By how much will the profit calculated using absorption costing principles differ from the profit if marginal costing principles had been used?
One of Perry's larger divisions operates a chain of high class hotels in one particular country. Which of the following variances will occur as a result of the c2 in production labour hours? There werebudgeted machine hours for the forthcoming period. And what about outside the UK? What type of cost is this?
Production and Sales Budget Actual Production units 26, 26, Sales units 28, 25, There was no inventory at the start of the year. Option A and option B are incorrect because they relate to direct costs. The company holds a buffer inventory of components.
The correct answer is B. What is the total production cost of the job? Management accounts do serve as a future planning tool, but they are also useful as an historical record of performance. The correct answer is D. D Focusing management reports on areas which are performing just outside acceptable limits. A A unit of output in relation to which costs may be ascertained B The quantity of work achievable in one hour at standard levels of performance C Notional whole units which represent incomplete work D A unit of output which is identical to others previously manufactured in the same process 2 marks Which of the following items would NOT be included in the cash budget?
So A, B and C are not suitable situations.
FIA Foundations in Management Accounting FMA (acca F2) I-pass by BPP Learning M
A An adverse direct material cost variance will always be a combination of an adverse material price variance and an adverse material usage variance B An adverse direct bppp cost variance will always be a combination of an adverse material ipqss variance and a favourable material usage variance C An adverse direct material cost variance can be a combination of a favourable material price variance and a favourable material usage variance D An adverse direct material cost variance can be a combination of a favourable material price variance and an adverse material usage variance 2 marks The following information relates to Questions A A piece rate scheme with a minimum guaranteed wage B A straight piece rate scheme C A straight time rate scheme D A differential piece rate scheme 2 marks 7.
By practising MCQs you can develop this skill, giving you a better chance of passing the exam.
F22 deviations from trend have been calculated and month 19 is expected to be 1. The correct answer is therefore D. A good way of avoiding this trap is not to look at the answers until you are satisfied that you have fully completed your calculation.
B Fewer customers than expected took advantage of the early payment discounts offered. Do not attempt any questions if you are unable to fill in any of the blanks - go back to your BPP Interactive Text and revise first. A i and ii only B ii and iii only C ii and iv only D iii and iv only 2 marks 2.
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D The operating standards set for production should be the maximum level. Remember that you must square the correlation coefficient in order to obtain the coefficient of ipqss.
A secondary objective of non-profit making organisations might be to minimise the ……. Which statement is false? Options A, C and T2 are all overheads or indirect costs which cannot be traced directly and in full to the product.
It is important to tackle questions under exam conditions. In each six month period the usage of the item is 50, units.