快速查题-ACCA英国注册会计师试题

A company has budgeted to make and sell 4,200 units of product X during the period.

The standard fixed overhead cost per unit is $4.

During the period covered by the budget, the actual results were as follows.

Production and sales                           5,000units

Fixed overhead incurred                       $17,500

What are the fixed overhead variances for the period?

A company manufactures a single product, and relevant data for December is as follows.     

                                                 Budget/standard                     Actual

Production units                               1,800                               1,900

Labour hours                                    9,000                              9,400

Fixed production overhead             $36,000                           $39,480

What are the fixed production overhead capacity and efficiency variances for December?   

 This objective test question contains a question type which will only appear in a computer-based exam, but this question provides valuable practice for all students whichever version of the exam they are taking. 

While a drag and drop style question is impossible to fully replicate within a paper based medium, some questions of this style have been included for completeness. 

Incremental budgeting can sometimes be an appropriate methodology for setting budgets.   

Which of the following statements are true?

  Incremental budgets could be appropriate when:

  The business is growing rapidly

  Applied to total sales in an international seasonal business

  Applied to stationary costs

  Applied to production costs

  The business is stable

  For administration costs when the experience of the managers is limited 

Drag the correct answers in to the box: 

Which of the following companies are subsidiaries of Gamma Co?

Zeta Co: Gamma Co owns 51% of the non-voting preference shares of Zeta Co Iota Co: Gamma Co has 3 representatives on the board of directors of Iota Co. Each director can cast 10 votes each out of the total of 40 votes at board meetings.

Kappa Co: Gamma Co owns 75% of the ordinary share capital of Kappa Co, however Kappa Cois located overseas and is

subject to tax in that country.

Can incremental budgeting be used to budget for rent? What about for advertising expenditure? 

The statements of financial position of the two companies at 31 December 20X3 were as follows:

There have been no changes in the share capital or share premium account of either company since 1 January 20X3. Th

e fair value of the non-controlling interest on acquisition was $65,000.

What figure for goodwill on consolidation should appear in the consolidated statement of financial position of the Hilton group

at 31 December 20X3?

What might the base and incremental packages for a personnel department cover? 

 What figure for non-controlling interest should appear in the consolidated statement of financial position of the Hilton group at 31 December 20X3?

Fill in the gaps. 

A flexible budget is a budget which, by recognising ………………., is designed to ………………. as the level of activity changes.  

Fanta Co acquired 100% of the ordinary share capital of Tizer Co on 1 October 20X7.

On 31 December 20X7 the share capital and retained earnings of Tizer Co were as follows:

                                                                                       $'000

Ordinary shares of $1 each                                              400 

Retained earnings at 1 January 20X7                              100

Retained profit for the year ended 31 December 20X7     80

                                                                                          580

The profits of Tizer Co have accrued evenly throughout 20X7. Goodwill arising on the acquisition of Tizer Co was $30,000.

What was the cost of the investment in Tizer Co?