FundamentalsPilotPaper答案.docVIP

Fundamentals Pilot Paper - Knowledge Module, Paper F2 Management Accounting 1 C 2 A 3 C (litres) Normal loss Actual loss Abnormal loss Abnormal gain Process F 5,200 6,100 900 - Process G 1,875 1,800 - 75 4 B Marginal costing profit: (36,000 - (2,000*(63,000/14,000)) $27,000 5 B Did cost: $136,000 Should cost: (53,000 kg $2·50) $132,500 Price variance: $3,500 6 B 7 C 8 D 9 B 10 B 11 A (36,000 + (200,000 x 12%))/200,000 = 30% 12 C 13 C Using high low method: Variable cost (170,000 - 5,000 - 135,000)/(22,000 - 16,000) = $5 Fixed cost: 135,000 - (16,000*5) = 55,000 Cost for 20,000 units: (20,000*5) + (55,000 + 5,000) = $160,000 14 A 15 B 16C 17 A Variable production cost per unit = (15,120 - 11,280)/(10,000- 6,000) = 3,840/4,000 = $0·96 Fixed cost = 11,280 - (6,000 x 0·96) = $5,520 85% capacity = 8,500 units. Flexible budget allowance for 8,500 units = $5,520 + (8,500 x 0·96) = $13,680 18 C At 13% NPV should be -10 Using interpolation: 10% + (50/60)(10% - 13%) = 12·5% 19 D 20 D 21 A 1,700 units*10 $17,000 300 units*0·4*10 $1,200 Opening work in progress value $1,710 Total value $19,910 22 A (Actual hours - Budgeted hours) * standard rate (24,000 - 25,000)*5 = $5,000 adverse 23 A 24 A 25 B (budgeted quantity - actual quantity) * standard profit per unit (1,000 - 900)*(50 - 39) = $1,100 26 B 27 A 5,000 = x + x/·08 5,000 = 13·5 x Value of annual perpetuity = 5,000/13·5 = $370