ACCA英国注册会计师试题及答案_ACCA英国注册会计师考试练习题P156-新东方在线职业题库

Which two of the following statements about activity based costing are true?

A

ABC recognises the complexity of modern manufacturing by the use of multiple cost drivers

B

ABC establishes separate cost pools for support activities

C

ABC reapportions support activity costs

D

BC is an appropriate costing system when overheads vary with time spent on production

ABC is felt to give a more useful product cost than classic absorption costing (with overheads absorbed on labour hours) if which of the following two apply?

A

Labour costs are a relatively minor proportion of total costs

B

Overheads vary with many different measures of activity

C

Overheads are difficult to predict

D

Cost drivers are difficult to identify

The financial year of Mitex Co ended on 31 December 20X1.

An inventory count on January 4 20X2 gave a total inventory value of $527,300.

The following transactions occurred between January 1 and January 4.

$

Purchases of goods 7,900

Sales of goods (gross profit margin 40% on sales) 15,000

Goods returned to a supplier 800

What inventory value should be included in Mitex Co’s financial statements at 31 December 20X1?

A

$525,400

B

$527,600

C

$529,200

D

$535,200

Which of the following statements about IAS 2 Inventories is correct?

A

Production overheads should be included in cost on the basis of a company's normal level of

activity in the period.

B

In arriving at the net realisable value of inventories, trade discounts and settlement discounts

must be deducted.

C

In arriving at the cost of inventories, FIFO, LIFO and weighted average cost formulas are

acceptable.

D

It is permitted to value finished goods inventories at materials plus labour cost only, without

adding production overheads.

You are preparing the financial statements for a business. The cost of the items in closing inventory is $41,875. This includes some items which cost $1,960 and which were damaged in transit. You have estimated that it will cost $360 to repair the

items, and they can then be sold for $1,200.

What is the correct inventory valuation for inclusion in the financial statements?

A

$39,915

B

$40,755

C

$41,515

D

$42,995

S sells three products - Basic, Super and Luxury. The following information was available at the year end. Basic Super

Luxury

$ per unit $ per un $

per unitOriginal cost 6 9 18

Estimated selling price 9 12 15

Selling and distribution costs 1 4 5

units units unitsUnits of inventory 200 250 150

What is the value of inventory at the year end?

A

$4,200

B

$4,700

C

$5,700

D

$6,150

An inventory record card shows the following details.

February 1 50

units in stock at a cost of $40 per

unit7 100 units purchased at a cost of $45 per

unit14 80 units sold21 50

units purchased at a cost of $50 per

unit28 60 units sold

What is the value of inventory at 28 February using the FIFO method?

A

$2,450

B

$2,700

C

$2,950

D

$3,000

IAS 2 Inventories defines the items that may be included in computing the value of an inventory of finished goods manu

factured by a business.Which one of the following lists consists only of items

which may be included in the statement of financial position value of such inventories, according to IAS 2?

A

Supervisor's wages, carriage inwards, carriage outwards, raw materials

B

Raw materials, carriage inwards, costs of storage of finished goods, plant depreciation

C

Plant depreciation, carriage inwards, raw materials, Supervisor's wages

D

Carriage outwards, raw materials, Supervisor's wages, plant depreciation

The closing inventory of X amounted to $116,400 excluding the following two inventory lines:

1 400 items which had cost $4 each. All were sold after the reporting period for $3 each, with selling expenses of $200 for the batch.

2 200 different items which had cost $30 each. These items were found to be defective at the end of the reporting period.

Rectification work after the statement of financial position amounted to $1,200, after which they were sold for $35 each, with

selling expenses totalling $300.

Which of the following total figures should appear in the statement of financial position of X for inventory?

A

$122,300

B

$121,900

C

$122,900

D

$123,300

The inventory value for the financial statements of Q for the year ended 31 December 20X4 was based on an inventory count on 4 January 20X5,

which gave a total inventory value of $836,200.Between 31 December and 4 January 20X5, the following transactions took

place:

$

Purchases of goods 8,600

Sales of goods (profit margin 30% on sales) 14,000

Goods returned by Q to supplierWhat adjusted figure should be included in the financial statements for inventories at 31

December20X4?

A

$838,100

B

$853,900

C

$818,500

D

$ 834,300

快速查题-ACCA英国注册会计师试题