Final Revision

Final Revision

Professional Development

17 Qs

quiz-placeholder

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Final Revision

Final Revision

Assessment

Quiz

Financial Education

Professional Development

Hard

Created by

Elaine Wu

Used 3+ times

FREE Resource

17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

LC Co wishes to carry out a national survey of adults' reading habits. To reduce travelling costs, the country was divided into constituencies. A sample of 50 constituencies was selected random. With each of these constituencies, five polling districts were selected, again using random techniques. Interviewers will visit a random selection of 30 people on the electoral register of each district selected.

What sample method is the company using?

Stratified

Systematic

Multi-stage

Simple random

2.

MULTIPLE CHOICE QUESTION

3 mins • 2 pts

When opening inventories were 8,500 litres and closing inventories were 7,100 litres, William Co had a profit of $61,000 using marginal costing.

If the fixed overhead absorption rate was $4 per litre, what was the profit using absorption costing?

$61,000

$55,400

$56,500

$51,100

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Copy Co rents a photocopier with the following charges. A fixed rental amount is payable up to a certain number of copies each period. if the number of copies exceeds this amount, a constant charge per copy is made for all subsequent copies during that period.

Which of the following graphs depicts the total photocopier rental costs described?

Media Image
Media Image
Media Image
Media Image

4.

MULTIPLE CHOICE QUESTION

3 mins • 2 pts

The following data relate to the overhead expenditure of an organization at two activity levels.

Square metres = 12,750 - Overheads = $73,950

Square metres = 15,100 - Overheads = $83,585

What is the estimated overhead expenditure if 16,200 square metres are be cleaned?

$25,626

$44,745

$88,095

$192,645

5.

MULTIPLE CHOICE QUESTION

2 mins • 2 pts

A management consultancy recovers overheads on the basis of chargeable consulting hours. Budgeted overheads were $615,000 and actual consulting hours were 32,150. Overheads were under-recovered by $35,000.

If actual overheads were $694,075, what was the budgeted overhead absorption rate per hour?

$19.13

$20.50

$21.59

$22.68

6.

MULTIPLE CHOICE QUESTION

2 mins • 2 pts

A pet food company incurred the following costs last year for each of its three different markets.

Dog food: $1,345,000

Cat food: $2,300,000

Food supplements: $985,000

If a pie chart were used to represent the proportion of costs incurred by each area, what would be the angle of the section representing cat food?

179 degrees

77 degrees

120 degrees

106 degrees

7.

MULTIPLE SELECT QUESTION

2 mins • 2 pts

Which TWO of the following statements relating to activity-based costing are true?

Activity-based costs can be used to identify relevant costs for decision making.

Activity-based costing cannot be used to cost services.

Activity-based costing is a form of a absorption costing.

Activity-based costing is an alternative to traditional volume-based costing models.

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