Pilotpapers for F2（26-50）

26A company manufactures a single product which it sells for $20 perunit. The product has a contribution to sales ratio of 40%. Thecompany’s weekly break- even point is sales revenue of $18,000.
What would be the profit in a week when 1,200 units are sold?
A $1,200
B $2,400
C $3,600
D $6,000
(2 marks)
27 The following graph relates to a linear programming problem:

图片：1.jpg

Theobjective is to maximise contribution and the dotted line on the graphdepicts this function. There are three constraints which are all of the“less than or equal to” type which are depicted on the graph by thethree solid lines labelled (1), (2) and (3).
At which of the following intersections is contribution maximised?
A Constraints (1) and (2)
B Constraints (2) and (3)
C Constraints (1) and (3)
D Constraint (1) and the x-axis
(2 marks)
28In an organisation manufacturing a number of different products in onelarge factory, the rent of that factory is an example of a directexpense when costing a product.
Is this statement true or false?
A True
B False
(1 mark)
Y
0 X
(1)
(2)
(3)
29A company operates a process in which no losses are incurred. Theprocess account for last month, when there was no openingwork-in-progress, was as follows:
Process Account
$ $
Costs arising         624,000         Finished output
                                                 (10,000 units)                                        480,000
                                                 Closing work-in progress (4,000 units)     144,000
                          624,000                                                                       624,000
The closing work-in-progress was complete to the same degree for all elements of cost.
What was the percentage degree of completion of the closing work-in-progress?
A 12%
B 30%
C 40%
D 75%
(2 marks)
30A company manufactures and sells two products (X and Y) both of whichutilise the same skilled labour. For the coming period, the supply ofskilled labour is limited to 2,000 hours. Data relating to each productare as follows:
Product                                                      X           Y
Selling price per unit                                  $20       $40
Variable cost per unit                                 $12       $30
Skilled labour hours per unit                         2           4
Maximum demand (units) per period           800       400
In order to maximise profit in the coming period, how many units of each product should the company manufacture and sell?
A 200 units of X and 400 units of Y
B 400 units of X and 300 units of Y
C 600 units of X and 200 units of Y
D 800 units of X and 100 units of Y
(2 marks)

31 The following statements refer to organisations using job costing:
(i) Work is done to customer specification.
(ii) Work is usually completed within a relatively short period of time.
(iii) Products manufactured tend to be all identical.
Which two of these statements are CORRECT?
A (i) and (ii)
B (i) and (iii)
C (ii) and (iii)
(1 mark)

The following information relates to questions 32 and 33:
A company uses standard costing and the standard variable overhead cost for a product is:
6 direct labour hours @ $10 per hour
Last month when 3,900 units of the product were manufactured, the actual expenditure on variable overheads was $235,000 and 24,000 hours were actually worked.
32 What was the variable overhead expenditure variance for last month?
A $5,000 Adverse
B $5,000 Favourable
C $6,000 Adverse
D $6,000 Favourable
(2 marks)

33 What was the variable overhead efficiency variance for last month?
A $5,000 Adverse
B $5,000 Favourable
C $6,000 Adverse
D $6,000 Favourable
(2 marks)

34 When a manufacturing company operates a standard marginal costing system there are no fixed production overhead variances.
Is this statement true or false?
A True
B False
(1 mark)

35 A company operates a standard costing system. The variance analysis for last month shows a favourable materials price variance and an adverse labour efficiency variance.
The following four statements, which make comparisons with the standards, have been made:
(1) Inferior quality materials were purchased and used.
(2) Superior quality materials were purchased and used.
(3) Lower graded workers were used on production.
(4) Higher graded workers were used on production.
Which statements are consistent with the variance analysis?
A (1) and (3)
B (1) and (4)
C (2) and (3)
D (2) and (4)
(2 marks)

36 Which of the following best describes a principal budget factor?
A A factor that affects all budget centres.
B A factor that is controllable by a budget centre manager.
C A factor which limits the activities of an organisation.
D A factor that the management accountant builds into all budgets.
(2 marks)

37 Four vertical lines have been labelled G, H, J and K at different levels of activity on the following profit-volume chart:

图片：1.jpg

Which line represents the total contribution at that level of activity?
A Line G
B Line H
C Line J
D Line K
(2 marks)

38 Data is information that has been processed in such a way as to be meaningful to its recipients.
Is this statement true or false?
A True
B False
(1 mark)

39 Two products G and H are created from a joint process. G can be sold immediately after split-off. H requires further processing into product HH before it is in a saleable condition. There are no opening inventories and no work in progress of products G, H or HH. The following data are available for last period:
                                                                    $
Total joint production costs                        350,000
Further processing costs of product H           66,000
Product           Production       Closing inventory
                          units                   units
G                    420,000                20,000
HH                  330,000                30,000
Using the physical unit method for apportioning joint production costs, what was the cost value of the closing inventory of product HH for last period?
A $16,640
B $18,625
C $20,000
D $21,600
(2 marks)

40 A company purchased a machine several years ago for $50,000. Its written down value is now $10,000. The machine is no longer used on normal production work and it could be sold now for $8,000.
A project is being considered which would make use of this machine for six months. After this time the machine would be sold for $5,000.
What is the relevant cost of the machine to the project?
A $2,000
B $3,000
C $5,000
D $10,000
(2 marks)

41 A company operates a standard absorption costing system. The standard fixed production overhead rate is $15 per hour.
The following data relate to last month:
Actual hours worked                              5,500
Budgeted hours                                     5,000
Standard hours for actual production       4,800
What was the fixed production overhead capacity variance?
A $7,500 Adverse
B $7,500 Favourable
C $10,500 Adverse
D $10,500 Favourable
(2 marks)

42 The following statements relate to relevant cost concepts in decision-making:
(i) Materials can never have an opportunity cost whereas labour can.
(ii) The annual depreciation charge is not a relevant cost.
(iii) Fixed costs would have a relevant cost element if a decision causes a change in their total expenditure
Which 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)

43 A contract is under consideration which requires 600 labour hours to complete. There are 350 hours of spare labour capacity for which the workers are still being paid the normal rate of pay. The remaining hours for the contract can be found either by weekend overtime working paid at double the normal rate of pay or by diverting labour from other production. This other production makes a contribution, net of labour cost, of $5 per hour. The normal rate of pay is $9 per hour.
What is the total relevant cost of labour for the contract?
A $1,250
B $3,500
C $4,500
D $4,900
(2 marks)

44 An organisation operates a piecework system of remuneration, but also guarantees its employees 80% of a time-based rate of pay which is based on $20 per hour for an eight hour working day. Three minutes is the standard time allowed per unit of output. Piecework is paid at the rate of $18 per standard hour.
If an employee produces 200 units in eight hours on a particular day, what is the employee’s gross pay for that day?
A $128
B $144
C $160
D $180
(2 marks)

45 A semi-variable cost is one that, in the short term, remains the same over a given range of activity but beyond that increases and then remains constant at the higher level of activity.
Is this statement true or false?
A True
B False
(1 mark)

46 A factory consists of two production cost centres (P and Q) and two service cost centres (X and Y). The total allocated and apportioned overhead for each is as follows:
      P                  Q               X               Y
$95,000        $82,000      $46,000     $30,000
It has been estimated that each service cost centre does work for other cost centres in the following proportions:
                                                          P      Q     X    Y
Percentage of service cost centre X to     50    50    –    –
Percentage of service cost centre Y to     30    60   10   –
The reapportionment of service cost centre costs to other cost centres fully reflects the above proportions.
After the reapportionment of service cost centre costs has been carried out, what is the total overhead for production cost centre P?
A $124,500
B $126,100
C $127,000
D $128,500
(2 marks)

The following information relates to questions 47 and 48:
A company manufactures and sells two products (X and Y) which have contributions per unit of $8 and $20 respectively.
The company aims to maximise profit. Two materials (G and H) are used in the manufacture of each product. Each material is in short supply – 1,000 kg of G and 1,800 kg of H are available next period. The company holds no inventories and it can sell all the units produced.
The management accountant has drawn the following graph accurately showing the constraints for materials G and H.

47 What is the amount (in kg) of material G and material H used in each unit of product Y?

图片：1.jpg

         Material G       Material H
A           10                   20
B           10                   10
C           20                   20
D           20                   10
(2 marks)

48 What is the optimal mix of production (in units) for the next period?
         Product X        Product Y
A            0                    90
B           50                    60
C           60                   50
D          125                   0
(2 marks)

49 The following statement refers to a quality of good information:
The cost of producing information should be greater than the value of the benefits of that information to management.
Is this statement true or false?
A True
B False
(1 mark)

50 A company which operates a process costing system had work-in-progress at the start of last month of 300 units (valued at £1,710) which were 60% complete in respect of all costs. Last month a total of 2,000 units were completed and transferred to the finished goods warehouse. The cost per equivalent unit for costs arising last month was $10.
The company uses the FIFO method of cost allocation.
What was the total value of the 2,000 units transferred to the finished goods warehouse last month?
A $19,910
B $20,000
C $20,510
D $21,710
(2 marks)