F2名习题_ACCA英国注册会计师

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

A

(i) and (ii)

B

(i) and (iii)

C

(ii) and (iii)

D

(iii) only

A company manufactures two joint products and one by-product in a single process. Data for November are as follows.

$

Raw material input 216,000

Conversion costs 72,000

There were no inventories at the beginning or end of the period.

Output Sales price

Units $ per unit

Joint product E 21,000 15

Joint product Q 18,000 10

By-product X 2,000 2

By-product sales revenue is credited to the process account. Joint costs are apportioned on a sales value basis. What were the full production costs of product Q in November (to the nearest $)?

A

$102,445

B

$103,273

C

$104,727

D

$180,727

A company manufactures three joint products and one by-product from a single process.

Data for May are as follows.

Opening and closing inventories Nil

Raw materials input $180,000

Conversion costs $50,000

Output Units Sales price $ per unit

Joint product L 3,000 32

M 2,000 42

N 4,000 38

By-product R 1,000 2

By-product sales revenue is credited to the sales account. Joint costs are apportioned on a sales value basis.

What were the full production costs of product M in May (to the nearest $)?

A

$57,687

B

$57,844

C

$58,193

D

$66,506

Two products G and H are created from a joint process. G can be sold immediately after split-off. H requires further processing before it is in a saleable condition. There are no opening inventories and no work in progress. The following data are available for last period:

$

Total joint production costs 384,000

Further processing costs (product H) 159,600

Product Selling price Sales Production

per unit Units Units

G $0.84 400,000 412,000

H $1.82 200,000 228.000

Using the physical unit method for apportioning joint production costs, what was the cost value of the closing inventory of product H for last period?

A

$36,400

B

$37,520

C

$40.264

D

$45,181

Two products (W and X) are created from a joint process. Both products can be sold immediately after split-off. There are no opening inventories or work in progress. The following information is available for last period:

Total joint production costs $776,160

Product Production units Sales units Selling price per unit

W 12,000 10,000 $10

X 10,000 8,000 $12

Using the sales value method of apportioning joint production costs, what was the value of the closing inventory of product X for last period?

A

$310,464

B

$388,080

C

$155,232

D

$77,616

Which of the following statements is not correct?

A

Activity based costing is an alternative to traditional volume-based costing methods

B

Activity based costs provide an approximation of long-run variable unit costs

C

Activity based costing cannot be used to cost services

D

Activity based costing is a form of absorption costing

A product is in the stage of its life cycle which is typified by falling prices but good profit margins due to high sales volumes. What stage is it in?

A

Growth

B

Maturity

C

Introduction

D

Decline

In what stage of the product life cycle are initial costs of the investment in the product typically recovered?

A

Introduction

B

Decline

C

Growth

D

Maturity

How is target cost calculated?

A

Desired selling price - actual profit margin

B

Market price - desired profit margin

C

Desired selling price - desired profit margin

D

Market price - standard profit margin

Which stage of the product life cycle do the following characteristics refer to?New competitors Customer feedback received New distribution outlets being found Product quality improvements made

A

Growth

B

Decline

C

Maturity

D

Introduction

快速查题-ACCA英国注册会计师试题