F2名习题_ACCA英国注册会计师

In times of rising prices, the valuation of inventory using the First In First Out method/ as opposed to the Weighted Average Cost method, will result in which ONE of the following combinations?

A

Cost of sales Profit Closing inventory

Lower Higher Higher

B

Cost of sales Profit Closing inventory

Lower Higher Lower

C

Cost of sales Profit Closing inventory

Higher Lower Higher

D

Cost of sales Profit Closing inventory

Higher Higher Lower

A company determines its order quantity for a component using the Economic Order Quantity (EOQ) model.

What would be the effects on the EOQ and the total annual ordering cost of an increase in the annual cost of holding one unit of the component in inventory?

A

EOQ Total annual ordering cost

Lower Higher

B

EOQ Total annual ordering cost

Higher Lower

C

EOQ Total annual ordering cost

Lower No effect

D

EOQ Total annual ordering cost

Higher No effect

A company uses the Economic Order Quantity (EOQ) model to establish reorder quantities. The following information relates to the forthcoming period:

Order costs = $25 per order Holding costs = 10% of purchase price Annual demand = 20,000 units Purchase price = $40 per unit EOQ = 500 units No safety inventory is held.

What are the total annual costs of inventory (i.e. the total purchase cost plus total order cost plus total holding cost)?

A

$22,000

B

$33,500

C

$802,000

D

$803,000

A large store selling office furniture stocks a popular chair for which the following information is available:

Annual demand: 4,000 chairs

Maximum inventory: 75 chairs

Minimum inventory: 20 chairs

Lead time: 5 days

Re-order quantity： 100 chairs

What is the average inventory level?

A

75 chairs

B

70 chairs

C

55 chairs

D

47 chairs

What is the economic batch quantity used to establish?

A

Optimal reorder quantity

B

Optimal reorder level

C

Maximum inventory levels

D

Optimal quantity to be manufactured

A manufacturing company uses 25,000 components at an even rate during a year. Each order placed with the supplier of the components is for 2,000 components, which is the economic order quantity. The company holds a buffer inventory of 500 components. The annual cost of holding one component in inventory is $2.What is the total annual cost of holding inventory of the component?

A

$2,000

B

$2,500

C

$3,000

D

$4,000

The following diagram represents the behaviour of one element of cost:Which one of the following descriptions is consistent with the above diagram?

A

Annual total cost of factory power where the supplier sets a tariff based on a fixed charge plus a constant unit cost for consumption which is subject to a maximum annual charge.

B

Total annual direct material cost where the supplier charges a constant amount per unit which then reduces to a lower amount per unit after a certain level of purchases.

C

Total annual direct material cost where the supplier charges a constant amount per unit but when purchases exceed a certain level a lower amount per unit applies to all purchases in the year.

D

Annual total cost of telephone services where the supplier makes a fixed charge and then a constant unit rate for calls up to a certain level. This rate then reduces for all calls above this level.

An organisation has the following total costs at three activity levels:

Activity level (units) 8,000 12,000 15,000

Total cost $204,000 $250,000 $274,000

Variable cost per unit is constant within this activity range and there is a step up of 10% in the total fixed costs when the activity level exceeds 11,000 units.What is the total cost at an activity level of 10,000 units?

A

$220,000

B

$224,000

C

$227,000

D

$234,000

A firm has to pay a $0.50 per unit royalty to the inventor of a device which it manufactures and sells. How would the royalty charge be classified in the firm's accounts?

A

selling expense

B

direct expense

C

production overhead

D

administrative overhead

Which of the following can be included when valuing inventory?

(i) Direct material

(ii) Direct labour

(iii) Administration costs

(iv) Production overheads

A

(i) and (ii) only

B

(i), (ii) and (iv)

C

(i), (ii)and(iii)

D

all of them

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