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A firm has to pay a 20c per unit royalty to the inventor of a device which it manufactures and sells.
The royalty charge would be classified in the firm's accounts as a:
A
B
C
D
(2 marks)
Selling expense
Direct expense
Production overhead
Administrative overhead
(1 mark)
(2 marks)
(2 marks)
(1 mark)
Over which of the following is the manager of a profit centre likely to have control?
(i)
(ii)
(iii)
(iv)
Selling prices
Controllable costs
Apportioned head office costs
Capital investment in the centre
A
B
C
D
(2 marks)
10
A cost which arises from a decision already taken, which cannot, in the short run, be changed.
A cost for which the behaviour pattern can be easily analysed to facilitate valid budgetary control
comparisons.
A specific cost of an activity or business which would be avoided if the activity or business did not
exist.
(2 marks)
Which of the following items might be a suitable cost unit within the credit control department of a
company?
(i)
(ii)
(iii)
Stationery cost
Customer account
Cheque received and processed
A
B
C
D
A cost that relates to a time period which is deducted as expenses for the period and is not included
in the inventory valuation.
A cost that can be easily allocated to a particular period, without the need for arbitrary apportionment
between periods.
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.
(2 marks)
A company employs four supervisors to oversee the factory production of all its products. The salaries paid
to these supervisors are:
A
B
C
D
11
(2 marks)
(2 marks)
(ii)
(iii)
(2 marks)
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
B
C
D
3.2
(2 marks)
3.3
Selling expense
Direct expense
Production overhead
Administrative overhead
(2 marks)
3.4
3.6
(2 marks)
A company makes chairs and tables. Which of the following items would be treated as an indirect cost?
A
B
C
D
3.5
(2 marks)
Over which of the following is the manager of a profit centre likely to have control?
(i)
(ii)
(iii)
(iv)
Selling prices
Controllable costs
Apportioned head office costs
Capital investment in the centre
A
B
C
D
(2 marks)
A cost which arises from a decision already taken, which cannot, in the short run, be changed.
A cost for which the behaviour pattern can be easily analysed to facilitate valid budgetary control
comparisons.
A specific cost of an activity or business which would be avoided if the activity or business did
not exist.
(2 marks)
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
B
C
D
(2 marks)
3.10 A company manufactures and sells toys and incurs the following three costs:
(i)
(ii)
(iii)
(2 marks)
(2 marks)
1.1 For which of the following is a profit centre manager normally responsible?
A
Costs only
Revenues only
(2 marks)
1.2 Monthly variance reports are an example of which one of the following types of management
information?
A Tactical
B Strategic
C Planning
D Operational
(2 marks)
(2 marks)
1.4 Reginald is the manager of production department M in a factory which has ten other
production departments. He receives monthly information that compares planned and actual
expenditure for department M. After department M, all production goes into other factory
departments to be completed prior to being despatched to customers. Decisions involving
capital expenditure in department M are not taken by Reginald.
Which of the following describes Reginald's role in department M?
A
(2 marks)
1.5 The following statements relate to financial accounting or to cost and management
accounting:
(i) The main users of financial accounting information are external to an organisation.
(ii) Cost accounting is part of financial accounting and establishes costs incurred by an
organisation.
(iii) Management accounting is used to aid planning, control and decision making.
Which of the statements are correct?
A (i) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only
D (i), (ii) and (iii)
(2 marks)