快速查题-ACCA英国注册会计师试题

Fill in the blanks. 

The material price variance is the difference between ………………… and ………………… 

The material usage variance is the difference between ………………… and ………………… 

 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. 

A business is expanding rapidly and buying its material in a variety of countries in a variety of currencies.  It has an exclusive supply delivery contract whereby the same logistics expert makes all deliveries in to its warehouses on a cost plus basis.  It pays all delivery charges on a per unit basis. 

Which of the following are valid explanations of an adverse material price variance measured to include delivery costs as part of the cost per kg delivered? 

Drag the correct items into the box below:

  Exchange rate movements

  Extra discounts agreed

  Increased world-wide demand for the material

  Extra supply of the material becoming available from new suppliers

  World oil price rises

  Increases in the dividends paid by the delivery business 

What are the possible advantages for the control function of an organisation of having a standard costing system? 

Can you think of a service organisation that could apply standard costing? 

ABC carries out routine office work in a sales order processing department, and all tasks in the department have been given standard times. There are 40 clerks in the department who work on average 140 hours per month each. The efficiency ratio of the department is 110%. 

Required 

Calculate the budgeted output in the department. 

What problems do you think could occur when standards are being set? 

The budgeted and actual results of Crunch Co for September were as follows. The company uses a marginal costing system. There were no opening or closing inventories. 

Required  

Prepare a budget that will be useful for management control purposes. 

 Choose the appropriate words from those highlighted. 

The greatest/least benefit from the use of standard costing can be gained if there is a degree of repetition in the production process. 

Standard costing is therefore most/less suited to organisations which produce to customer demand and requirements and most/less suited to mass production. 

Fill in the blanks. 

Standard costing is difficult in times of inflation but it is still worthwhile. 

(a) ........................ and .............................. variances will still be meaningful. 

(b) Inflation is .............................. : there is no reason why its effects cannot be removed. 

(c) Standard costs can be .............................. , as long as this is not done ........................... . 

 Provide three reasons why standard costing conflicts with schemes of continuous improvement and cost reduction programmes.