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P159-新东方在线职业题库

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Abkaber assembles three types of motorcycle at the same factory: the 50cc Sunshine; the 250cc Roadster and the 1000cc Fireball. It sells the motorcycles throughout the world. In response to market pressures Abkaber has invested heavily in new manufacturing technology in recent years and, as a result, has significantly reduced the size of its workforce.

Historically, the company has allocated all overhead costs using total direct labour hours, but is now considering introducing Activity Based Costing (ABC). Abkaber's accountant has produced the following analysis.

The three cost drivers that generate overheads are:

Deliveries to retailers – the number of deliveries of motorcycles to retail showrooms

Set-ups – the number of times the assembly line process is re-set to accommodate

a production run of a different type of motorcycle

Purchase orders – the number of purchase orders.

The annual cost driver volumes relating to each activity and for each type of motorcycle are as follows:

The annual overhead costs relating to these activities are as follows:

$

Deliveries to retailers 2,400,000

Set-up costs 6,000,000

Purchase orders 3,600,000

All direct labour is paid at $5 per hour. The company holds no inventories.

38

【论述题】

Calculate the total costs of producing the budgeted amount of Sunshine motorcycles based on the existing method of attributing overheads.

Calculate the total costs of producing the budgeted amount of Roadster motorcycles based on the existing method of attributing overheads.

Calculate the amount of overhead in respect of set up costs, which would be attributed to the production of the budgeted amount of Roadster motorcycles, under ABC costing principles.

Calculate the amount of overhead in respect of purchase orders, which would be attributed to the budgeted amount of Fireball motorcycles, using ABC costing principles.

Which of the following statements is/are TRUE or FALSE?

1 Cash purchases are recorded in the purchases day book.

2 The sales day books is used to keep a list of invoices received from suppliers

A

Both statements are TRUE

B

Both statements are FALSE

C

Statement 1 is TRUE and statement 2 is FALSE

D

Statement 1 is FALSE and statement 2 is TRUE

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Mr Yousef

The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader.

TRIAL BALANCE AS AT 31 MAY 20X6

Dr Cr

$ $

Sales 138,078

Purchases 82,350

Carriage 5,144

Drawings 7,800

Rent and insurance 6,622

Postage and stationery 3,001

Advertising 1,330

Salaries and wages 26,420

Irrecoverable debts 877

Allowance for receivables 130

Receivables 12,120

Payables 6,471

Cash on hand 177

Cash at bank 1,002

Inventory as at 1 June 20X5 11,927

Equipment at cost 58,000

Accumulated depreciation 19,000

Capital 53,091

216,770 216,770

The following additional information as at 31 May 20X6 is available.

1 Rent is accrued by $210.

2 Insurance has been prepaid by $880.

3 $2,211 of carriage represents carriage inwards on purchases.

4 Equipment is to be depreciated at 15% per annum using the straight-line method.

5 The allowance for receivables is to be increased by $40.

6 Inventory at the close of business has been valued at $13,551.

52

【论述题】

Prepare a statement of profit or loss for the year ended 31 May 20X6.

Prepare a statement of financial position as at that date.

The closing inventory at cost of a company at 31 January 20X3 amounted to $284,700.

The following items were included at cost in the total:1 400 coats, which had cost $80 each and normally sold for $150 each. Owing to a defect in manufacture, they were all sold after the reporting date at 50% of their normal price.

Selling expenses amounted to 5% of the proceeds.2 800 skirts, which had cost $20 each.

These too were found to be defective. Remedial work in February 20X3 cost $5 per skirt, and selling expenses for the batch totalled $800. They were sold for $28 each.

What should the inventory value be according to IAS 2 Inventories after considering the above items?

A

$281,200

B

$282,800

C

$329,200

D

None of these

A company values its inventory using the first in, first out (FIFO) method. At 1 May 20X2 the company had 700 engines in

inventory, valued at $190 each.During the year ended 30 April 20X3 the following transactions took place:20X2July Purchased 500 engines at $220 each1 November Sold 400 engines for $160,00020X31 February Purchased 300 engines at $230

each15 April Sold 250 engines for $125,000

What is the value of the company's closing inventory of engines at 30 April 20X3?

A

$188,500

B

$195,500

C

$166,000

D

None of these figures

Which of the following statements about the valuation of inventory are correct, according to IAS 2 Inventories?

1 Inventory items are normally to be valued at the higher of cost and net realisable value.

2 The cost of goods manufactured by an entity will include materials and labour only. Overhead costs cannot be included.

3 LIFO (last in, first out) cannot be used to value inventory.

4 Selling price less estimated profit margin may be used to arrive at cost if this gives a reasonable approximation to actual

cost.

A

1, 3 and 4 only

B

1 and 2 only

C

3 and 4 only

D

None of the statements are correct

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