快速查题-ACCA英国注册会计师试题

Exp has compiled the following standard cost card for its main product.

Production costs                                           $

Fixed                                                          33.00

Variable                                                      45.10

Selling costs Fixed                                     64.00

Variable                                                      7.20

Profit                                                          14.70

Selling price                                               164.00

What would the closing inventory be valued at under an absorption costing system (to 2 decimal places)?

 What is the absorption costing profit for the month?

What overhead should be added to job number CC20 for the period?

A company uses process costing to establish the cost per unit of its output. The following information was available for the last month:

Input units                             10,000

Output units                           9,850

Opening inventory                 300 units, 100% complete for materials

                                              and 70% complete for conversion costs

Closing inventory                   450 units, 100% complete for materials

                                              and 30% complete for conversion costs

Thecompany uses the weighted average method of valuing inventory.What were the equivalent units for conversion costs?

A company operates a continuous process into which 3,000 units of material costing $9,000 was input in a period. Conversion costs for this period were $11,970 and losses, which have a scrap value of $1.50, are expected at a rate of 10% of input. There were no opening or closing inventories and output for the period was 2,900 units.What was the output valuation?

The following information relates to a company's polishing process for the previous period.

Output to finished goods                  5,408 units valued at $29,744

Normal loss                                       276 units

Actual loss                                       112 units

All losses have a scrap value of $2.50 per unit and there was no opening or closing work in progress. What was the value of the input during the period?

Which of the following statements about process losses are correct?

(i) Units of normal loss should be valued at full cost per unit

(ii) Units of abnormal loss should be valued at their scrap value

Which of the following statements is/are correct?(i) A by-product is a product produced at the same time as other products which has a relatively low volume compared with the other products(ii) Since a by-product is a saleable item it should be separately costed in the process account, and should absorb some of the process costs(iii) Costs incurred prior to the point of separation are known as common or joint costs