快速查题-ACCA英国注册会计师试题

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

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 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 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 $)?

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?

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?

Which of the following statements is not correct?

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?

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