MA (New Mock 2023 - 5)

A haulage operator transported 470 tonnes of goods in a period over a total distance of 5,600 kilometres (km).Costs incurred in the period totalled $3,579,520.

What was the cost per tonne per km in the period (to two decimal places)?
$________

• $1.36

• $1.46

• $1.37

• $1.33

The following items are in the cost accounts of a business for a period:

                                                                        
   The under-absorbed fixed production overheads are to be included in the calculation of gross profit for the period.

What s the gross profit for the period?

 

$ ____________

• $113340

• $114450

• $225540

• $112230

Which TWO of the following are characteristics of continuous data?

• They are measured rather than counted

• They have a finite number of possible values within a range

• They have clear spaces between values

• They must be quantitative

Which of the following are features of process costing?        
  (1) Valuation of closing work in progress
    (2) Loss in process due fo wastage

   (3) Output from one  process becomes the input for the next 

  

• 1 and 2 only

• 2 and 3 only

•  1 and 3 only

• 2 only

The management  accountant of a manufacturing business has calculated the following performance indicators using data concerning direct labour hours.

 

  Capacity ratio                                                             83.6%

  Efficiency ratio                                                           104.8%

 

What is the production volume ratio (to one decimal place)?

__________

• 85.5%

• 85.6%

• 87.6%

• 84.6%

The standard cost of a product shows :

During a period 600 units were produced and 4,200 hours were worked at a total labour cost of $50,400.

 

What was the labour rate variance for the period

•  $9,000  Favourable

• $9,000  Adverse

•  $12,600  Adverse
  

•  $12,600  Favourable

Are the following statements regarding the setting of budgets true or false?

 1) Expectations budgets are useful for resource planning

2)  Aspirations budgets are useful for motivational purposes 

• both statements are true

• both statements are false

• statement 1 is true statement 2 is false

• statement 2 is true statement 1 is false
  

Which of the following are features of process costing?

 1.valuation of closing work in progress

2. Loss in process due of wastage
3.Output from one process becomes the input for the next

• 1 and 2 only

• 2 and 2 Only

• 1 and 3 only

• 1 , 2 and 3

A company purchases a product at a cost of $10 per unit The annual demand for the product is 20,000 units. The annual holding cost per unit is $1.60 and the cost of placing an order is $40.

What is the optimal reorder quantity (in units)?

 

• 1000

• 2000

• 2001

• 2002

A line of best fit has been established for the trend of sales in a business over four quarters, where Year 1 Quarter 1 =

1. Year 1 Quarter 2 = 2 and so on. The equation of the line is.

Total sales units = 6.300 + (30 × quarter number)

 

What are the forecast sales units for the first quarter of Year 2 using the additive model?______________units

• 6064units

• 6465units

• 6460 units

• 6560units