A person who is held out by a company as a director and performs the duties of a director without actually being validly appointed is a:
A public company must have two directors, a private company only needs one.
A manufacturing company which produces a range of products has developed a budget for the life-cycle of a new product, P. The information in the following table relates exclusively to product P:
Lifetime total Per unit
Design costs $800,000
Direct manufacturing costs $20
Depreciation costs $500,000
Decommissioning costs $20,000
Machine hours 4
Production and sales units 300,000
The company’s total fixed production overheads are budgeted to be $72 million each year and total machine hours are budgeted to be 96 million hours. The company absorbs overheads on a machine hour basis.
What is the budgeted life-cycle cost per unit for product P?
A company has produced the following information for a product it is about to launch:
Units 2,000 5,000 7,000
Variable production cost per unit $2.30 $1.80 $1.20
Fixed production costs $3,000 $3,500 $4,000
Variable selling cost per unit $0.50 $0.40 $0.40
Fixed selling costs $1,500 $1,600 $1,600
Administrative costs $700 $700 $700
What is the life-cycle cost per unit?
Which ONE of the following would serve to increase the Throughput Accounting Ratio?
A manufacturing company decides which of three mutually exclusive products to make in its factory on the basis of maximising the company’s throughput accounting ratio.
Current data for the three products is shown in the following table:
Product X Product Y Product Z
Selling price per unit $60 $40 $20
Direct material cost per unit $40 $10 $16
Machine hours per unit 10 20 2.5
Total factory costs (excluding direct materials) are $150,000. The company cannot make enough of any of the products to satisfy external demand entirely as machine hours are restricted.
Which of the following actions would improve the company’s existing throughput accounting ratio?
Which of the following is a statement by a judge that is the basis for their decision and is what becomes binding on future judges?
Which of the following types of court decision occurs when a court higher in the hierarchy overturns the verdict of a lower court in the same case?
According to IAS 38 Intangible assets, which of the following statements about research anddevelopment expenditure are
correct?
1 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as
incurred.
2 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether
there will be adequate finance available to complete the project.
3 Development expenditure recognised as an asset must be amortised over a period not exceeding five years.
Which one of the following statements about traditional (unlimited) partnerships is incorrect?