快速查题-ACCA英国注册会计师试题

An organisation is considering the costs to be incurred in respect of a special order opportunity. The order would require 1,250 kgs of material D, that is readily available and regularly used by the organisation on its normal products.   

There are 265 kgs of material D in inventory which cost $795 last week. The current market price is $3.24 per kg. Material D is normally used to make product X. Each unit of X requires 3 kgs of material D, and if material D is costed at $3 per kg, each unit of X yields a contribution of $15.

 What is the relevant cost of material D to be included in the costing of the special order? 

 H has in inventory 15,000 kg of M, a raw material which it bought for $3/kg five years ago, for a product line which was discontinued four years ago. M has no use in its existing state but could be sold as scrap for $1.00 per kg.  One of the company’s current products (HN) requires 4 kg of a raw material, available for $5.00 per kg.  M can be modified at a cost of $0.75 per kg so that it may be used as a substitute for this material. However, after modification, 5 kg of M is required for every unit of HN to be produced. 

 H has now received an invitation to tender for a product which could use M in its present state. 

What is the relevant cost per kg of M to be included in the cost estimate for the tender? 

In order to utilise some spare capacity, K is preparing a quotation for a special order which requires 2,000 kgs of material J.  

K has 800 kgs of material J in inventory (original cost $7.00 per kg). Material J is used in the company’s main product L. Each unit of L uses 5 kgs of material J and, based on an input value of $7.00 per kg of J, each unit of L yields a contribution of $10.00. 

 The resale value of material J is $5.50 per kg. The present replacement price of material J is $8.00 per kg. Material J is readily available in the market. 

What is the relevant cost of the 2,000 kgs of material J to be included in the quotation? 

The accountant at Investotech discovered the following errors after calculating the company's profit for 20X3:(a) A non-current asset costing $50,000 has been included in the purchases account(b) Stationery costing $10,000 has been included as

closing inventory of raw materials, instead of stationery expensesWhat is the effect of these errors on gross profit and net

profit?

 A company is calculating the relevant cost of the material to be used on a particular contract. The contract requires 4,200 kgs of material H and this can be bought for $6.30 per kg. The company bought 10,000 kgs of material H some time ago when it paid $4.50 per kg. Currently 3,700 kgs of this remains in inventory.  The inventory of material H could be sold for $3.20 per kg.  

The company has no other use for material H other than on this contract, but it could modify it at a cost of $3.70 per kg and use it as a substitute for material J.  Material J is regularly used by the company and can be bought for $7.50 per kg. 

What is the relevant cost of the material for the contract? 

A purchase return of $48 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in

the supplier's account.Which of the following statements about the trial balance would be correct?

Ace Limited is considering a new project that will require the use of a currently idle machine. The machine has a current book value of $12,000 and a potential disposal value of $10,500 (before $200 disposal costs) and hence has been under depreciated by $1,500 over its life to date.  If the machine is to be fit for purpose on the new project it will have to be relocated at a cost of $500 and refitted at a further cost of $800.  

What is the relevant cost of using the machine on the new project? 

Two types of common errors in bookkeeping are errors of principle and errors of transposition.Which of the following correctly states whether or not these errors will be revealed by extracting a trial balance?Errors of principle Errors of transposition

 Blunt is considering a new project but is unsure how much overhead to include in the calculations to help him decide whether or not to proceed. Existing fixed overheads are absorbed at the rate of $8 per hour worked.  Blunt is certain that the project will involve an incremental 500 labour hours.  

The project will involve extra machine running costs and these variable overheads cost him $4 per hour. The number of extra machine hours is expected to be 450 hours. The difference between this figure and the 500 labour hours above is expected idle time.  

The project will require a little more temporary space that can be rented at a fixed cost of $1,200 for the period of hire. This overhead is not included in the fixed overhead absorption rate above. 

What is the overhead to be charged against the project decision? 

Beta Co has total assets of $650,000 and profit for the year of $150,000 recorded in the financial statements for the year

ended 31 December 20X3. Inventory costing $50,000, with a resale value of $75,000, was received into the warehouse on 2

January 20X4 and included in the inventory value that was recorded in the financial statements at 31 December 20X3.What

would the total assets figure in the Statement of Financial Position, and the adjusted profit for the year figure, be after

adjusting for this error?

Total assets (SOFP) Profit for year