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Kultur Dokumente
(A)
600
1.
Which of the following provides analytical data for those who manage a firm?
(A)
(B)
(C)
(D)
2.
With reference to cost and management accounting, which of the following statements is MOST accurate?
(A)
(B)
(C)
(D)
3.
A firm estimates that its annual carrying cost for material ABC is $.30 per lb, demand is 50 000 lbs, and ordering
costs are $100 per order. The economic order quantity (EOQ) rounded to the nearest pound is
(A)
(B)
(C)
(D)
4.
Financial accounting
Internal auditing
Cost and management accounting
External auditing
1125 lbs
1 732 lbs
4 082 lbs
5 774 lbs
6. Which stock valuation method assumes that ALL stocks are the same?
02201010/C APE2008
(A)
3- (B)
(C)
(D)
7.
The Ramsaran Co. requires 70 000 units of product G for the year. The units will be used evenly throughout the
year. It costs $80 to place an order. Its carrying cost is $15 per unit. What is the economic order quantity (EOQ)
rounded to the nearest whole unit?
(A)
(B)
(C)
(D)
8.
600
690
800
864
(B)
(C)
(D)
02201010/CAPE2008
Items 9 - 10 refer to an item of inventory for Worme Company which has the following data for August 2007.
600 barrels at $9.00 each
950 barrels at $9.50 each
200 barrels at $9.70 each
560 barrels
Beginning inventory
Purchases August 5
Purchases August 15
Ending inventory
11.
$4 480
$5 040
$5 360
$5 432
13.
(A)
(B)
(C)
(D)
fixed
constant
semi-variable
step
14.
12.
$4 480
$5 040
$5 360
$5 432
Bonus
Piece-rate
Fixed salary
Commission
Prime cost
Product cost
Direct cost
Fixed cost
I and III only
I, II and III only
I, II and IV only
II, III and IV only
6-
(A)
(D)
(B)
(C)
21
.
$1 400
$2 800
$3 800
$4 000
(C)
(D)
(A)
(B)
(C)
(D)
Standard costing
Variable costing
Activity-based costing
Absorption costing
22.
(A)
(B)
(C)
(D)
step-down method
reciprocal allocation method
direct allocation method
sequential allocation method
Supervisory salaries
Equipment depreciation
Variable manufacturing costs
Variable administrative expenses
VIII.
$50
$25
$200 000
$85 000
During 2007,5 000 units were produced and 4 800 units were sold. There were no beginning inventories.
23. The value of finished goods inventory at the
end of 2007 using variable costing is
(A)
(B)
(C)
(D)
(A)
(B)
(C)
(D)
$240 000
$432 000
$450 000
$552 000
25. Eversley Inc. manufactures products on a job-order basis. The job cost sheet for the Rose Hill job shows the following
for the month of March:
Direct materials
Direct labour (100 hours at 7.25)
Machine hours incurred
Predetermined overhead rate per machine hour
$5 000
$ 725
40 hours
. $ 26
At the end of March, the total cost appearing on the Rose Hill job cost sheet will be
(A)
(B)
(C)
(D)
$5
$5
$6
$8
725
765
765
325
-o-
'J,
26.
27.
$56
$63
$70
$94.50
An order for a job was received. Labour is the only direct cost at $80 per hour and indirect costs are $40 per
hour. What is the total cost if 20 hours are spent on the job?
(A)
(B)
(C)
(D)
$ 120
$ 800
$1 600
$2 400
$ 357
$1071
$1428
$2 142
29. What was the amount of direct materials included in Job Siera?
(A)
$ 677
(B)
$1 391
(C)
$2 142
(D)
$4 658
Items 30 - 31 refer to the following information.
(A)
(B)
(C)
(D)
$11.33
$11.45
$28.00
$29.00
Overheads 85 000
Machine hours 7 500
Prime costs 125 000
30.
Estimated Actual $ $
82 605
7 210
126 000
31.
$ 619 under-absorption
$ 916 over-absorption
$ 916 under-absorption
$9116 over-absorption
$18.53
$21.67
$46.33
$65.00
28.
(A)
$ 4 800
$12 800
$17 336
$38 703
Direct
Cost
Indirect
Cost
$ 640
$1 200
$1the
100following information.
$ 900
Items 33 - (B)
34 refer to
(C)
$1 200
$ 640
Travis Inc.(D)
has two$1
products,
A
and
B.
The company uses an activity-based costing system. The estimated total
240
$ 230
cost and expected activity for EACH of the company's THREE activity cost pools are as follows:
Activity
Cost Pool
Cost
Estimated
Product A
Moulding
$17 600
800
300
1 100
Waxing
Finishing
$12 000
$26 000
500
800
200
400
700
1 200
Expected Activity
Product B
Total
processed
(B)
(C)
(D)
allocated
benchmarked
incurred
December 2006
January 2007
February 2007
Sales
Purchases
$
$
30 000 16 000
25 000 14 000
18 000 20 000
Actual
Production: 2 750 units were produced during
the month
Material: 5 000 litres at $3.10 per litre
Labour: 9 000 hours at $4.50 per hour
$14 000
$16 000
$20000
$25 000
(A)
(B)
(C)
(D)
$0
$ 500 F
$ 500 U
$1 500 F
39. How much cash was collected from credit sales in the
month of February 2007?
40.
(A)
$16200
A standard
is 500
(B) cost$22
(C)
(D)
$24 000
$27 000
$1 500 U
$1 500 F
$1 550 U
$6 750 F
43.
What is the labour rate variance?
(A)
(B)
(C)
(D)
(A)
(B)
(C)
(D)
$1 050F
$1 090 F
$3 150 F
$3 150 U
44. What is the labour efficiency variance?
I
(A)
(B)
(C)
(D)
$2 610 F
$2 610 U
$2 700 F
$2 700 U
45.
9-
(A)
(B)
(C)
(D)
250
750
1 000
1250
(D)
46.
47. A company has break-even sales of $30 000, annual sales of $50 000, and budgeted sales of $40 000. The margin of
safety is
(A)
(B)
(C)
(D)
10%
25%
40%
50%
48. A product has a selling price of $20 and variable costs of $12. Fixed expenses total $ 120 000 annually. How many
units must be sold to yield a profit of $30 000?
(A)
(B)
(C)
(D)
12 500
18 750
20 000
25 000
*
$
Selling price per unit
Variable cost per unit
Total fixed cost
49.
How many units must the Jamaica Banana Group sell in order to achieve operating income of $200 000?
(A)
(B)
(C)
(D)
50.
300
150
400 000
1 000
2 000
4 000
6 000
51.
52.
10-
(B)
(C)
(D)
w,
53. The net present value of a project is positive.
However, the company did NOT accept this
project. One can assume that, for this project,
the
(A)
(B)
(C)
(D)
money
assumes that the company is able to
reinvest cash flows from the
project at the company's discount
rate
(C)
assumes that the company is able to
reinvest cash flows from the
project at the internal rate of return
(D)
does not take into account all the cash
flows from a project
(B)
IF YOU FINISH BEFORE TIME IS CALLED, CHECK YOUR WORK ON THIS TEST.