Pilotpapers for F2（1-25）

1 Thefollowing break-even chart has been drawn showing lines for total cost(TC), total variable cost (TVC), total fixed cost (TFC) and total salesrevenue (TSR):
What is the margin of safety at the 1,700 units level of activity?

图片：1.jpg

A 200 units
B 300 units
C 500 units
D 1,025 units
(2 marks)
2 The following assertions relate to financial accounting and to cost accounting:
(i) The main users of financial accounting information are external to an organisation.
(ii) Cost accounting is that part of financial accounting which records the cash received and payments made by an organisation.
Which of the following statements are true?
A Assertions (i) and (ii) are both correct.
B Only assertion (i) is correct.
C Only assertion (ii) is correct.
(1 mark)
3Regression analysis is being used to find the line of best fit (y = a +bx) from eleven pairs of data. The calculations have produced thefollowing information:
Σx = 440, Σy = 330, Σx2 = 17,986, Σy2 = 10,366, Σxy = 13,467 and b = 0.69171
What is the value of ‘a’ in the equation for the line of best fit (to 2 decimal places)?
A 0.63
B 0.69
C 2.33
D 5.33
(2 marks)
4 The purchase price of a stock item is $25 per unit. In each three month period the usage of the item is 20,000 units.
Theannual holding costs associated with one unit equate to 6% of itspurchase price. The cost of placing an order for the item is $20.
What is the Economic Order Quantity (EOQ) for the stock item to the nearest whole unit?
A 730
B 894
C 1,461
D 1,633
(2 marks)
5A company uses an overhead absorption rate of $3.50 per machine hour,based on 32,000 budgeted machine hours for the period. During the sameperiod the actual total overhead expenditure amounted to $108,875 and30,000 machine hours were recorded on actual production.
By how much was the total overhead under or over absorbed for the period?
A Under absorbed by $3,875
B Under absorbed by $7,000
C Over absorbed by $3,875
D Over absorbed by $7,000
(2 marks)
6 For which of the following is a profit centre manager responsible?
A Costs only
B Revenues only
C Costs and revenues.
(1 mark)
7 An organisation has the following total costs at two activity levels:
Activity level (units)      16,000       22,000
Total costs ($)            135,000      170,000
Variablecost per unit is constant within this range of activity but there is astep up of $5,000 in the total fixed costs when the activity exceeds17,500 units.
What is the total cost at an activity of 20,000 units?
A $155,000
B $158,000
C $160,000
D $163,000
(2 marks)
8A company manufactures and sells a single product. In two consecutivemonths the following levels of production and sales (in units) occurred:
                        Month 1   Month 2
Sales                  3,800       4,400
Production          3,900       4,200
Theopening inventory for Month 1 was 400 units. Profits or losses havebeen calculated for each month using both absorption and marginalcosting principles.
Which of the following combination of profits and losses for the two months is consistent with the above data?
Absorption costing profit/(loss) Marginal costing profit/(loss)
     Month 1    Month 2     Month 1     Month 2
          $             $              $               $
A      200        4,400        (400)        3,200
B     (400)       4,400         200         3,200
C      200        3,200        (400)        4,400
D    (400)       3,200          200         4,400
(2 marks)  

  这是哪一年的Paper呀？？？

24 Which one of the following is most likely to operate a system of service costing?
A A printing company
B A hospital
C A firm of solicitors.
(1 mark)

25 The following budgeted information relates to a manufacturing company for next period:
                        Units                                                      $
Production       14,000          Fixed production costs       63,000
Sales               12,000          Fixed selling costs             12,000
The normal level of activity is 14,000 units per period.
Using absorption costing the profit for next period has been calculated as $36,000.
What would the profit for next period be using marginal costing?
A $25,000
B $27,000
C $45,000
D $47,000
(2 marks)

22 The following statements refer to spreadsheets:
(i) A spreadsheet is the most suitable software for the storage of large volumes of data.
(ii) A spreadsheet could be used to produce a flexible budget.
(iii) Most spreadsheets contain a facility to display the data in them within them in a graphical form.
Which of these statements are correct?
A (i) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only
D (i), (ii) and (iii)
(2 marks)

23 A company always determines its order quantity for a raw material by using the Economic Order Quantity (EOQ) model.
What would be the effects on the EOQ and the total annual holding cost of a decrease in the cost of ordering a batch of raw material?
      E O Q         Annual holding cost
A    Higher          Lower
B    Higher          Higher
C    Lower           Higher
D    Lower           Lower
(2 marks)

20 A company’s budgeted sales for last month were 10,000 units with a standard selling price of $20 per unit and a standard contribution of $8 per unit. Last month actual sales of 10,500 units at an average selling price of $19.50 per unit were achieved.
What were the sales price and sales volume contribution variances for last month?
        Sales price variance ($)         Sales volume contribution variance ($)
A      5,250 Adverse                     4,000 Favourable
B      5,250 Adverse                     4,000 Adverse
C      5,000 Adverse                     4,000 Favourable
D      5,000 Adverse                     4,000 Adverse
(2 marks)

21 A company manufactures and sells one product which requires 8 kg of raw material in its manufacture. The budgeted data relating to the next period are as follows:
                                                             Units
Sales                                                     19,000
Opening inventory of finished goods         4,000
Closing inventory of finished goods           3,000
                                                               Kg
Opening inventory of raw materials          50,000
Closing inventory of raw materials            53,000
What is the budgeted raw material purchases for next period (in kg)?
A 141,000
B 147,000
C 157,000
D 163,000
(2 marks)

17 A manufacturing organisation incurs costs relating to the following:
(1) Commission payable to salespersons.
(2) Inspecting all products.
(3) Packing the products at the end of the manufacturing process prior to moving them to the warehouse.
Which of these costs are classified as production costs?
A (1) and (2) only
B (1) and (3) only
C (2) and (3) only
D (1), (2) and (3)
(2 marks)

18 Which of the following is correct with regard to expected values?
A Expected values provide a weighted average of anticipated outcomes.
B The expected value will always equal one of the possible outcomes.
C Expected values will show the decision maker’s attitude to risk.
D The expected value will never equal one of the possible outcomes.
(2 marks)

19 There is a 60% chance that a company will make a profit of $300,000 next year and a 40% chance of making a loss of $400,000.
What is the expected profit or loss for next year?
A $120,000 Loss
B $20,000 Loss
C $20,000 Profit
D $120,000 Profit
(2 marks)

15 The following statements relate to aspects of budget administration:
Statement (1): An important task of a budget committee is to ensure that budgets are properly coordinated.
Statement (2): A budget manual is the document produced at the end of the budget setting process.
Which of the following is true?
A Only statement (1) is correct.
B Only statement (2) is correct.
C Both statements are correct.
(1 mark)

16 Up to a given level of activity in each period the purchase price per unit of a raw material is constant. After that point a lower price per unit applies both to further units purchased and also retrospectively to all units already purchased.
Which of the following graphs depicts the total cost of the raw materials for a period?

图片：1.jpg

12 Which one of the following should be classified as indirect labour?
A Assembly workers on a car production line
B Bricklayers in a house building company
C Machinists in a factory producing clothes
D Forklift truck drivers in the stores of an engineering company.
(2 marks)

13 A company is evaluating a project that requires 400kg of raw material X. The company has 150kg of X in stock that were purchased six months ago for $55 per kg. The company no longer has any use for X. The inventory of X could be sold for $40 per kg. The current purchase price for X is $53 per kg.
What is the total relevant cost of raw material X for the project?
A $17,950
B $19,250
C $21,200
D $21,500
(2 marks)

14 Which of the following is NOT a feasible value for the correlation coefficient?
A +1.4
B +0.7
C 0
D −0.7
(2 marks)

9 Which of the following best describes a flexible budget?
A A budget which shows variable production costs only.
B A monthly budget which is changed to reflect the number of days in the month.
C A budget which shows sales revenue and costs at different levels of activity.
D A budget that is updated halfway through the year to incorporate the actual results for the first half of the year.
(2 marks)

10 Information relating to two processes (F and G) was as follows:
Process       Normal loss as     Input     Output
                    % of input        litres        litres
F                         8             65,000     58,900
G                        5             37,500      35,700
For each process, was there an abnormal loss or an abnormal gain?
            Process F                Process G
A      Abnormal gain        Abnormal gain
B       Abnormal gain       Abnormal loss
C      Abnormal loss        Abnormal gain
D      Abnormal loss        Abnormal loss
(2 marks)

11 An organisation manufactures a single product which is sold for $80 per unit. The organisation’s total monthly fixed costs are $99,000 and it has a contribution to sales ratio of 45%. This month it plans to manufacture and sell 4,000 units.
What is the organisation’s margin of safety this month (in units)?
A 1,250
B 1,750
C 2,250
D 2,750
(2 marks)