1.Over a period, a firm made purchases of $800, $1,000, $1,100 and $1,200 on items, the unit cost of which were $5.00, $6.25, $5.50 and $6.00 respectively.To the nearest cent, the mean price paid per item was ( )
A:$5.71
B:$5.72
C:$5.70
D:$5.69
答案:$5.69
2.Variable costs are conventionally deemed to： ( )
A:Be constant in total when production volume changes
B:Vary per unit of output as production volume changes
C:Be constant per unit of output
D:Vary, in total, from period to period when production is constant
答案:Be constant per unit of output
3.The following information relates to a company's polishing process for the previousperiod.Output to finished goods 5,408 units valued at $29,744Normal loss 276 unitsActual loss 112 unitsAll losses have a scrap value of $2.50 per unit and there was no opening or closing work inprogress.What was the value of the input during the period? （ ）
A:$29,744
B:$28,842
C:$29,532
D:$30,434
答案:$29,532
4.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:1,155
B:866
C:577
D:816
答案:1,155
5.Jane works as a member of a three-person team in the assembly department of a factory.The team is rewarded by a group bonus scheme whereby the team leader receives 40 per cent of any bonus earned by the team, and the remaining bonus is shared evenly between Jane and the other team member.Details of output for one day are given below.Hours worked by team 8 hoursTeam production achieved 80 unitsStandard time allowed to produce one unit 9 minutesGroup bonus payable at $6 per hour 70% of time savedWhat is the bonus element of Jane's pay for this particular day? （ ）
A:$10.08
B:$7.20
C:$16.80
D:$5.04
答案:$5.04
6.Which of the following would be classed as indirect labor? （ ）
A:A consultant in a firm of management consultants
B:Plasterers in a construction company
C:A store assistant in a factory store
D:Assembly workers in a company manufacturing televisions
答案:A store assistant in a factory store
7.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
答案:Total sales value per product
8.A company sold 56,000 units of its single product in a period for a total revenue of $700,000. Finished inventory increased by 4,000 units in the period. Costs in the period were ：Variable production $3.60 per unitFixed production $258,000 (absorbed on the actual number of units produced)Fixed non- production $144,000Using absorption costing, what was the profit for the period? （ ）
A:$96,400
B:$123,200
C:$82,000
D:$113,600
答案:$113,600
9.which of the following explains the essence of quota sampling?（ ）
A:Each element of the population has an equal chance of being chosen
B:None
C:Every element of one definable sub-section of the population is selected
D:Every nth member of the population is selected
答案:None
10.The following data relate to inventory item A 452: 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 unitsWhat is the maximum inventory level?（ ）
A:6,180 units
B:3,380 units
C:7,380 units
D:8,580 units
答案:6,180 units
11.If ∑X = 100, ∑Y = 400, ∑X2 = 2,040, ∑Y2 = 32,278, ∑XY = 8,104 and n = 5, which of the following values for a and b are correct in the formula Y = a + bX? ( )
A:a=–28 b=+2.6
B:a=28 b=–2.6
C:a=–28 b=–2.6
D:a=28 b=+2.6
A:(i) and (ii) only B:(i) only C:(i) and (iii) only D:(i), (ii) and (iii) 13.Build Co is a company that constructs office buildings and has decided that it will build its new head office. Which of the following costs should be included in the recorded cost of the new building? (i) Raw materials(ii) Labour costs(iii) Related overhead costs(iv) Legal costs that will be incurred to purchase the land
A:(i), (ii) and (iii) only B:(i), (iii) and (iv) only C:All of them D:(ii), (iii) and (iv) only 14.At the beginning of the year, Bob Co enters into a rental agreement with a landlord who is entitled, under the terms of the agreement, to change the rent (either upwards or downwards) according to economic conditions. Bob Co cannot cancel the agreement during the first six months. For the first six months of the agreement, Bob Co could classify the rent as a: ( )
A:Fixed cost B:Avoidable cost C:Semi-variable cost D:Uncontrollable cost 15.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:The use of codes facilitates data processing C:A code is more suited to communicating wider issues than a description D:A code is briefer than a description so saves time 16.Which of the following is a feature of job costing? ( )
A:Production is carried out in accordance with the wishes of the customer. B:It establishes the cost of services rendered. C:It is associated with continuous production of large volumes of low-cost items. D:It uses equivalent units. 17.The following scores are observed for the times taken to complete a task, in minutes.24, 68,28,30,42,48, 18,34,22, 16 The median score is ( )
A:26 B:32 C:28 D:29 18.Qual Co is keen to increase the use they make of non-financial performance measures in their overall performance measurement activities. In particular, they are keen to improve customer retention and so want to focus on the quality of service they provide to their customers. Which of the following measures would be most appropriate as a measure of service quality?（ ）(i) Number of customer complaints(ii) Number of repeat orders as a proportion of total orders(iii) Sales volume growth
A:(i) and (iii) B:(i), (ii) and (iii) C:(ii) and (iii) D:(i)and (ii) 19.A company is considering accepting a one-year contract which will require four skilled employees. The four skilled employees could be recruited on a one-year contract at a cost of $40,000 per employee. The employees would be supervised by an existing manager who earns $60,000 per year. It is expected that supervision of the contract would take 10% of the manager's time. Instead of recruiting new employees the company could retrain some existing employees who currently earn $30,000 per year. The training would cost $15,000 in total. If these employees were used they would need to be replaced at a total cost of $100,000. What is the relevant labour cost of the contract? ( )
A:$135,000 B:$160,000 C:$115,000 D:$275,000 20.Which of the following is not a perspective associated with the balanced scorecard? ( )
A:Reliability B:Financial success C:Growth D:Customer satisfaction 21.Which of the following best describes the advantage of a balanced scorecard approach?( )
A:The balanced scorecard approach enables organisations to demonstrate their ethical credentials B:The balanced scorecard approach enables organisations to consider all areas of performance relevant to achieving their strategic goals C:The balanced scorecard approach enables organisations to more easily benchmark their performance against others D:The balanced scorecard approach enables organisations that are struggling financially to emphasise other areas 22.A company uses variance analysis to control costs and revenues.Information concerning sales is as followsBudgeted selling price $15 per unitBudgeted sales units 10,000 unitsBudgeted profit per unit $5 per unitActual sales revenue $151,500Actual units sold 9,800 unitsWhat is the sales volume profit variance?( )
A:$3,000 Adverse B:$1,000 Adverse C:$500 Favourable D:$1,000 Favourable 23.A chemical is manufactured in two processes, X and Y. Data for process Y for last month are as follows.Material transferred from process X 2,000 litres @ $4 per litreConversion costs incurred $12,240Output transferred to finished goods 1,600 litres No losses occur in the process. Closing work in progress is fully complete for material, but is only 50% processed. What is the value of the closing work in progress (to the nearest $)? ( )
A:$1,360 B:$2,160 C:$2,960 D:$4,320 24.What is a by- product? （ ）
A:A product produced at the same time as other products which has a relatively low value compared with the other products B:A product produced at the same time as other products which has a relatively low volume compared with the other products C:A product produced at the same time as other products which has no value D:A product produced at the same time as other products which requires further processing to put it in a saleable state 25.In a process account, abnormal losses are valued: ( )
A:At good production cost less scrap value B:Nil C:The same as good production D:At their scrap value 26.PQ Co plans to sell 24,000 units of product R next year. Opening inventory of R is expected to be 2,000 units and PQ Co plans to increase inventory by 25% by the end of the year. How many units of product R should be produced next year? ( )
A:23,500 units B:24,500 units C:24,000 units D:30,000 units 27.A company with a single product sells more units than it manufactures in a period. Which of the following correctly describes the use of marginal costing in comparison with absorption costing in the above situation? ( )
A:Both profit and inventory values will be lower B:Profit will be higher; inventory values will be lower C:Both profit and inventory values will be higher D:Profit will be lower；inventory values will be higher 28.The balanced scorecard measures performance from four perspectives. What are they? ( )
A:Customer satisfaction, growth, financial success and process efficiency B:Customer satisfaction, growth, financial stability and process efficiency C:Customer satisfaction, growth, financial success and process effectiveness D:Customer retention, growth, financial stability and process efficiency 29.A cost which contains both fixed and variable elements, and so is partly affected by changes in the level of activity, is called: ( )
A:A semi-variable cost B:A direct cost C:An unavoidable cost D:A prime cost 30.Which of the following relates to capital expenditure? ( )
A:Expenditure on the manufacture of goods or the provision of services B:Recorded as a liability in the statement of financial position C:Cost of acquiring or enhancing non-current assets D:Recorded as an asset in the statement of profit or loss 31.Factory overheads can be absorbed by which of the following methods?(i) Direct labour hours(ii) Machine hours(iii) As a % of prime cost(iv) $x per unit ( )
A:(i), (ii) or (iii) only B:(i), (ii), (iii) or (iv) C:(i) or (ii) only D:(ii), (iii) or (iv) only 32.Harry P Co uses 62,500 units of material HP at an even rate during the year. Each order placed with the supplier of the units is for 5,000 units, which is the EOQ. The company holds buffer inventory of 1,250 units. The annual cost of holding one unit in inventory is $5. What is the total annual cost of holding inventory of the unit? ( )
A:$25,000 B:$12,500 C:$18,750 D:$15,625 33.Which of the following items might be a suitable cost unit within the accounts payable department of a company? ( )(i) Postage cost (iii) Supplier account(ii) Invoice processed
A:Item (i) only B:Item (ii) only C:Items (ii) and (iii) only D:Item (iii) only 34.Which of the following would be best described as a short term tactical plan?( )
A:Lowering the selling price by 15% B:Reviewing cost variances and investigate as appropriate C:Comparing actual market share to budget D:Monitoring actual sales to budget 35.A company uses standard marginal costing. Its budgeted contribution for the last month was$20,000. The actual contribution for the month was $15,000, and the following variances havebeen calculatedSales volume contribution variance $5,000 adverseSales price variance $9,000 favourableFixed overhead expenditure variance $3,000 favourableWhat was the total variable cost variance?( )
A:$9,000 favourable B:$9,000 adverse C:$12,000 adverse D:$12,000 favourable 36.Which of the following items might be a suitable cost unit within the credit control department of a company? （ ）(1) customer account(2) stationery cost(3) Cheque received and processed
A:item (1) only B:item (2) and (3) only C:item (2) only D:tem (1) and (3) only 37.Which of the following processes occurs at the business planning stage?
A:Establishing objectives B:Taking corrective action C:Comparing actual performance with budget D:Obtaining data about actual results 38.In a period 12,250 units were made and there was a favourable labour efficiency variance of $11,250. If 41,000 labour hours were worked and the standard wage rate was $6 per hour, how many standard hours (to two decimal places) were allowed per unit? （ ）
A:4.5 B:5 C:4 D:3.5 39.Which of the following could be included in a time series based sales forecast?（ ）(i) Trend(ii) Seasonal variation(iii) Cyclical variation(iv) Random fluctuation
A:(i), (ii) and (iii) only B:(i), (ii), (iii) and (iv) C:(i) only D: (ii) only 40.Which of the following would be the most appropriate basis for apportioning machinery insurance costs to cost centres within a factory? ( )
A:The value of the machinery in each cost centre B:The floor area occupied by the machinery in each cost centre C:The operating hours of the machinery in each cost centre D:The number of machines in each cost centre 41.Four years ago material X cost $5 per kg and the price index most appropriate to the cost of material X stood at 150. The same index now stands at 430. What is the best estimate of the current cost of material X per kg? ( )
A:$14.33 ($5 * 430 ÷ 150) B:$1.74 ($5 * 150 ÷ 430) C:$9.33 ($5*(430 – 150) ÷ 150 D:$21.50 ($5 *430 ÷ 100) 42.Over- absorbed overheads occur when（ ）
A:Actual overheads exceed budgeted overheads B:Actual overheads exceed absorbed overheads C:Absorbed overheads exceed actual overheads D:Absorbed overheads exceed budgeted overheads 43.
What does the labor cost graph below decipt? （ ）
A:A straight time rate scheme B:A piece rate scheme with a minimum guaranteed wage C:A straight piece rate scheme D: A differential piece rate scheme 44.A company uses the Economic Order Quantity (EOQ) model to establish reorder quantities.
The following information relates to the forthcoming period：
What are the total annual costs of inventory (ie the total purchase cost plus total order cost plus total holding costs)?( )
A:$802,000 B:$22,000 C:$33,500 D:$803,000 45.Which of the following is the best definition of return on capital employed? ( )
46.The following diagram represents the behavior of one element of cost:
Which ONE of the following statements is consistent with the above diagram? （ ）
A:Total direct material cost for a period where the supplier charges a constant amount perunit for all units supplied up to a maximum charge for the period B:Weekly total labor cost when there is a fixed wage for a standard 40 hour week butovertime is paid at a premium rate C:Total direct material cost for a period if the supplier charges a lower unit cost on all unitsonce a certain quantity has been purchased in that period. D:Annual factory power cost where the electricity supplier sets a tariff based on a fixedcharge plus a constant unit cost for consumption but subject to a maximum annual charge
