快速查题-ACCA英国注册会计师试题

 Breach of which of the following terms does NOT allow the possibility of the aggrieved party terminating the contract?

 Under the Act, terms which are void include those which restrict the consumer’s legal rights and those which allow the business to unilaterally change the terms of the contract. A consumer may enforce a term which is deemed unfair. 

 Which of the following contracts will the Consumer Rights Act 2015 apply to? 

What is the 'contra proferentem' rule? 

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?