2003年12月ACCA F2考试真题(上海交大ACCA)

1、FinancialInformationforManagementPART1FRIDAY5DECEMBER2003QUESTIONPAPERTimeallowed3hoursThispaperisdividedintotwosectionsSectionAALL25questionsarecompulsoryandMUSTbeansweredSectionBALLFIVEquestionsarecompulsoryandMUSTbeansweredFormulaeSheet,PresentValueandAnnuityTablesareonpages13,14and15Paper1.2Sect

2、ionAALL25questionsarecompulsoryandMUSTbeattemptedPleaseusetheCandidateRegistrationSheetprovidedtoindicateyourchosenanswertoeachmultiplechoicequestion.Eachquestionwithinthissectionisworth2marks.1Acostisdescribedasstayingthesameoveracertainactivityrangeandthenincreasingbutremainingstableoverarevisedac

3、tivityrangeintheshortterm.Whattypeofcostisthis?AAfixedcostBAvariablecostCAsemi-variablecostDAsteppedfixedcost2Thefollowingquarterlyadjustmentshavebeencalculatedusingthemultiplicativemodelfortimeseriesanalysis:Quarter1Quarter2Quarter3095125070Whatwouldbetheadjustmentforquarter4totwodecimalplaces?A083

4、B091C110D1203Acompanywhichusesmarginalcostinghasaprofitof37,500foraperiod.Openingstockwas100unitsandclosingstockwas350units.Thefixedproductionoverheadabsorptionrateis4perunit.Whatistheprofitunderabsorptioncosting?A35,700B36,500C38,500D39,3004Thefollowingcouldrelatetocontractcosting:(i)Workisforaperi

5、odoflongduration.(ii)Progresspaymentsareamountspaidforthecontractthroughoutthecourseofthecontract.(iii)Architectscertificatesareprovidedtoestablishtheamountofworkcertified.Whichoftheabovearecorrect?A(i)and(ii)onlyB(i)and(iii)onlyC(ii)and(iii)onlyD(i),(ii)and(iii)25Acompanyvaluesstocksusingtheweighte

6、daveragevalueaftereachpurchase.Thefollowingreceiptsandissueshavebeenmadewithregardstomaterialsforthelastmonth:DateReceiptsIssuesUnits/unitValuationUnitsBroughtforward10055004th10020th100660021st75Whatisthevalueoftheclosingstockusingthisweightedaveragemethod?A1,01250B97650C96250D925006Sy

7、dneywishestomakeaninvestmentonamonthlybasisstartingnextmonthforfiveyears.Thepaymentsintothefundwouldbemadeonthefirstdayofeachmonth.Theinterestratewillbe05%permonth.Sydneyneedsaterminalvalueof7,000.Whatshouldbethemonthlypaymentsintothefundtothenearest?A75B86C100D1177Acompanyhasthefollowingbudgetforth

8、enextmonth:FinishedProductSales7,000unitsProductionunits7,200unitsMaterialsUsageperunit3kgOpeningstock400kgClosingstock500kgWhatisthematerialpurchasesbudgetforthemonth?A20,900kgB21,100kgC21,500kgD21,700kg3P.T.O.48Thefollowingcouldrelatetoopticalmarkreaders:(i)Specialistpensarealwaysrequiredforuse.(i

9、i)Dataentryisquick.(iii)Computerscarryoutmostofthework.Whichoftheabovewouldbeconsideredtobeadvantagesofusingopticalmarkreaders?A(i)and(ii)onlyB(i)and(iii)onlyC(ii)and(iii)onlyD(i),(ii)and(iii)9Whichofthefollowingwouldbebestdescribedasashorttermtacticalplan?AReviewingcostvariancesandinvestigateasappr

10、opriateBComparingactualmarketsharetobudgetCLoweringthesellingpriceby15%DMonitoringactualsalestobudget10Acompanyincursthefollowingcostsatvariousactivitylevels:TotalcostActivitylevelUnits250,0005,000312,5007,500400,00010,000Usingthehigh-lowmethodwhatisthevariablecostperunit?A25B30C35D4011Aninvestmentg

11、ivesthefollowingresults:NetpresentvalueDiscountrate00038310%(246)15%Whatistheestimatedinternalrateofreturntothenearestwholepercentage?A12%B13%C14%D17%12Acompanyusesprocesscostingtoestablishthecostperunitofitsoutput.Thefollowinginformationwasavailableforthelastmonth:Inputunits10,000Outputunits9,850Op

12、eningstock300units,100%completeformaterialsand70%completeforconversioncostsClosingstock450units,100%completeformaterialsand30%completeforconversioncostsThecompanyusestheweightedaveragemethodofvaluingstock.Whatweretheequivalentunitsforconversioncosts?A9,505unitsB9,715unitsC9,775unitsD9,985units13Whic

13、hofthefollowingiscorrectwithregardtoexpectedvalues?AExpectedvaluesprovideaweightedaverageofanticipatedoutcomesBTheexpectedvaluewillalwaysequaloneofthepossibleoutcomesCExpectedvalueswillshowwhetherthedecisionmakerisriskaverse,riskseekingorriskneutralDTheexpectedvaluewillneverequaloneofthepossibleoutc

14、omes5P.T.O.14Thefollowinggraphhasbeenestablishedforagivensetofconstraints:Theobjectivefunction(OF)forthecompanyhasalsobeenplottedonthegraphandthefeasibleregionisboundedbytheareaABCD.Atwhichpointonthegraphwillprofitsbemaximised?ABCD15Thefollowinginformationhasbeenobtainedforsalesoftwoproductsforathre

15、eyearperiod:PriceQuantityProductAProductBProductAProductB2000(baseyear)10015034200112514023200213013524WhatisthePaaschequantityindexfor2002?A086B089C119D12063002001001002003000yxOFABCD16Acompanyhasjustsecuredanewcontractwhichrequires500hoursoflabour.Thereare400hoursofsparelabourcapacity.Theremaining

16、hourscouldbeworkedasovertimeattimeandahalforlabourcouldbedivertedfromtheproductionofproductX.ProductXcurrentlyearnsacontributionof4intwolabourhoursanddirectlabouriscurrentlypaidatarateof12pernormalhour.Whatistherelevantcostoflabourforthecontract?A200B1,200C1,400D1,80017Thefollowingstatementsrelateto

17、performanceevaluationmethods:(i)Residualincomeisnotarelativemeasure.(ii)Thereturnoninvestmentfigureisarelativemeasure.(iii)Residualincomecannotbecalculatedforanindividualproject.Whichoftheabovearecorrect?A(i)and(ii)onlyB(i)and(iii)onlyC(ii)and(iii)onlyD(i),(ii)and(iii)18Acompanyusesvarianceanalysist

18、ocontrolcostsandrevenues.Informationconcerningsalesisasfollows:Budgetedsellingprice15perunitBudgetedsalesunits10,000unitsBudgetedprofitperunit5perunitActualsalesrevenue151,500Actualunitssold9,800unitsWhatisthesalesvolumeprofitvariance?A500favourableB1,000favourableC1,000adverseD3,000adverse19Acompan

19、yhasthefollowingbudgetedinformationforthecomingmonth:Budgetedsalesrevenue500,000Budgetedcontribution200,000Budgetedprofit50,000Whatisthebudgetedbreak-evensalesrevenue?A125,000B350,000C375,000D450,0007P.T.O.20Aninvestmenthasthefollowingcashinflowsandcashoutflows:TimeCashflowperannum0000(20,000)1-413,

20、0005-817,00010(10,000)Whatisthenetpresentvalueoftheinvestmentatadiscountrateof8%?A(2,416)B7,046C6,981D2,35121Whichofthefollowingiscorrect?AWhenconsideringlimitingfactorstheproductsshouldalwaysberankedaccordingtocontributionperunitsoldBIfthereisonlyonescarceresourcelinearprogrammingshouldbeusedCInlin

21、earprogrammingthepointfurthestfromtheoriginwillalwaysbethepointofprofitmaximisationDTheslopeoftheobjectivefunctiondependsonthecontributionsoftheproducts22Acompanyhasoverabsorbedfixedproductionoverheadsfortheperiodby6,000.Thefixedproductionoverheadabsorptionratewas8perunitandisbasedonthenormallevelof

22、activityof5,000units.Actualproductionwas4,500units.Whatwastheactualfixedproductionoverheadsincurredfortheperiod?A30,000B36,000C40,000D42,00023Acompanyusesprocesscostingtovalueitsoutput.Thefollowingwasrecordedfortheperiod:Inputmaterials2,000unitsat450perunitConversioncosts13,340Normalloss5%ofinputval

23、uedat3perunitActualloss150unitsTherewerenoopeningorclosingstocks.Whatwasthevaluationofoneunitofoutputtoonedecimalplace?A118B116C112D110824Whichofthefollowingarecorrectwithregardtoregressionanalysis?(i)Inregressionanalysisthenstandsforthenumberofpairsofdata.(ii)x2isnotthesamecalculationas(x)2(iii)xyi

24、scalculatedbymultiplyingthetotalvalueofxandthetotalvalueofyA(i)and(ii)onlyB(i)and(iii)onlyC(ii)and(iii)onlyD(i),(ii)and(iii)25Thefollowinginformationrelatestolabourcostsforthepastmonth:BudgetLabourrate10perhourProductiontime15,000hoursTimeperunit3hoursProductionunits5,000unitsActualWagespaid176,000P

25、roduction5,500unitsTotalhoursworked14,000hoursTherewasnoidletime.Whatwerethelabourrateandefficiencyvariances?RatevarianceEfficiencyvarianceA26,000adverse25,000favourableB26,000adverse10,000favourableC36,000adverse12,500favourableD36,000adverse25,000favourable(50marks)9P.T.O.SectionBALLFIVEquestionsa

26、recompulsoryandMUSTbeattempted1Abusinessoperateswithtwoproductioncentresandthreeservicecentres.Costshavebeenallocatedandapportionedtothesecentresasfollows:Informationregardinghowtheservicecentresworkforeachotherandfortheproductioncentresisgivenas:Informationconcerningproductionrequirementsinthetwopr

27、oductioncentresisasfollows:Centre1Centre2Unitsproduced1,500units2,000unitsMachinehours3,000hours4,500hoursLabourhours2,000hours6,000hoursRequired:(a)Usingthereciprocalmethodcalculatethetotaloverheadsinproductioncentres1and2afterreapportionmentoftheservicecentrecosts.(7marks)(b)Usingthemostappropriat

28、ebasisestablishtheoverheadabsorptionrateforproductioncentre1.Brieflyexplainthereasonforyourchosenabsorptionbasis.(3marks)(10marks)10ProductionCentresServiceCentres12ABC2,0003,500300500700Workdonefor:ProductionCentresServiceCentres12ABCByA45%45%10%ByB50%20%20%10%ByC60%40%2Break-evenchartsandprofit-vo

29、lumechartsarecommonlyassociatedwithcost-volume-profitanalysis(break-evenanalysis).Required:(a)(i)Sketchabreak-evenchartandindicatewherethebreak-evenpointwouldbeforasingleproductfirm.Clearlylabeltheaxesandindicatethefollowinglines:totalrevenue;variablecost;fixedcosts;andtotalcost.(ii)Howwouldcontribu

30、tionbeestablishedfromyourchartin(a)(i)?(6marks)(b)(i)Sketchaprofit-volumechartandindicatewherethebreak-evenpointwouldbeforasingleproductfirm.Clearlylabeltheaxesandindicatetheprofitlineandfixedcosts.(ii)Howwouldcontributionbeestablishedfromyourchartin(b)(i)?(4marks)Note:nospecificnumbersarerequired.(

31、10marks)3Acompanyhasobtainedthefollowinginformationregardingcostsandrevenueforthepastfinancialyear:Originalbudget:Sales10,000unitsProduction12,000unitsStandardcostperunit:Directmaterials5Directlabour9Fixedproductionoverheads822Sellingprice30Actualresults:Sales9,750unitsRevenue325,000Production11,000

32、unitsMaterialcost65,000Labourcost100,000Fixedproductionoverheads95,000Therewerenoopeningstocks.Required:(a)Produceaflexedbudgetstatementshowingtheflexedbudgetandactualresults.Calculatethevariancesbetweentheactualandflexedfiguresforthefollowing:sales;materials;labour;andfixedproductionoverhead.(7mark

33、s)(b)Explainbrieflyhowthesalesandmaterialsvariancescalculatedin(a)mayhavearisen.(3marks)(10marks)11P.T.O.4Abusinesscurrentlyorders1,000unitsofproductXatatime.IthasdecidedthatitmaybebettertousetheEconomicOrderQuantitymethodtoestablishanoptimalreorderquantity.Informationregardingstocksisgivenbelow:Pur

34、chaseprice15/unitFixedcostperorder200Holdingcost8%ofthepurchasepriceperannumAnnualdemand12,000unitsCurrentannualtotalstockcostsare183,000,beingthetotalofthepurchasing,orderingandholdingcostsofproductX.Required:(a)CalculatetheEconomicOrderQuantity.(2marks)(b)Usingyouranswerto(a)abovecalculatetherevis

35、edannualtotalstockcostsforproductXandsoestablishthedifferencecomparedtothecurrentorderingpolicy.(4marks)(c)ListwaysinwhichdiscountsmightaffectthisEconomicOrderQuantitycalculationandsubsequentstockcosts.(4marks)(10marks)5Acompanymanufacturesasingleproduct,productY.Ithasdocumentedlevelsofdemandatcerta

36、insellingpricesforthisproductasfollows:Required:UsingatabularapproachcalculatethemarginalrevenuesandmarginalcostsforproductYatthedifferentlevelsofdemand,andsodeterminethesellingpriceatwhichthecompanyprofitsaremaximised.(10marks)12DemandSellingpriceperCostperunitunitUnits1,10048241,20046211,30045201,

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