ACCA F5考试真题答案Word文档下载推荐.docx
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ACCA F5考试真题答案Word文档下载推荐.docx
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Allcostsareincludedwhenusinglifecyclecosting.
Thisisthedefinitionofabasicstandard.
B
Thefirststatementisdescribingmanagementcontrol,notstrategicplanning.
C
Numberofunitsrequiredtomaketargetprofit=fixedcosts+targetprofit/contributionperunitofP1.
Fixedcosts=($1·
2x10,000)+($1x12,500)–$2,500=$22,000.
ContributionperunitofP=$3·
20+$1·
20=$4·
40.
($22,000+$60,000)/$4·
40=18,636units.
6
Product
Sellingpriceperunit
Rawmaterialcost
Directlabourcostat$11perhour
Variableoverheadcost
Contributionperunit
$160
$24
$66
$214
$56
$88
$18
$100
$22
$33
$140
$40
$46
$52
$21
$60
––––
Directlabourhoursperunit
Contributionperlabourhour
Rank
$7·
67
8
$6·
50
$7
$30
Normalmonthlyhours(totalunitsxhoursperunit)
1,800
1,000
720
800
Ifthestrikegoesahead,only2,160labourhourswillbeavailable.
ThereforemakeallofD,then1,360hours’worthofA(2,160–800hrs).
7
460–400=60clients
$40,000–$36,880=$3,120
VCperunit=$3,120/60=$52
ThereforeFC=$40,000–(460x$52)=$16,080
Increaseinvariablecostsfrombuyingin(2,200unitsx$40($140–$100))=$88,000
LessthespecificfixedcostssavedifAisshutdown=($10,000)
Decreaseinprofit=$78,000
17
9
Onlythefirststatementiscorrect.Traditionalabsorptioncostingtendstoover-allocatecoststohighvolumeproducts,not
under-allocatethem.
10
11
Bydefinition,ashadowpriceistheamountbywhichcontributionwillincreaseifanextrakgofmaterialbecomesavailable.20x
$2·
80=$56.
Neitherstatementiscorrect.Responsibilityisnotassignedsolelytoseniormanagersas,forexample,inaTQMenvironmentquality
iseverybody’sresponsibility.Inaddition,standardcostingcanbedifficulttoapplyindynamicsituations.
12
13
Thesecondstatementistalkingaboutflowcostaccounting,notinput/outputanalysis.
Target1isafinancialtargetandsoassesseseconomyfactors.Target2ismeasuringtherateofworkhandledbystaffwhichisan
efficiencymeasure.Target3isassessingoutput,soisameasureofeffectiveness.
14
15
Incomparisontoparticipativebudgeting,anadvantageofnon-participativebudgetingisthatitshouldbelesstimeconsuming,as
lesscollaborationwillberequiredinordertoproducethebudgets.
Thetargetcostingprocessalwaysbeginswiththetargetsellingpricebeingset.Therequiredprofitisthendeterminedanddeducted
fromthetargetsellingpricetoestimatethetargetcost.Thetargetcostisthencomparedtotheestimatedcurrentcostandthecost
gapisthencalculated.
16
Thisisadescriptionofanincrementalbudget.
Newprofitfiguresbeforesalarypaid:
Goodmanager:
$180,000x1·
3=$234,000
Averagemanager:
2=$216,000
Poor:
1=$198,000
EVofprofits=(0·
35x$234,000)+(0·
45x$216,000)+(0·
2x$198,000)=$81,900+$97,200+$39,600=$218,700
DeductsalarycostandEVwithmanager=$178,700
Thereforedonotemploymanagerasprofitswillfallby$1,300.
18
Set-upcostsperproductionrun=$140,000/28=$5,000
Costperinspection=$80,000/8=$10,000
Otheroverheadcostsperlabourhour=$96,000/48,000=$2
OverheadscostsofproductD:
$
Set-upcosts(15x$5,000)
Inspectioncosts(3x$10,000)
Otheroverheads(40,000x$2)
75,000
30,000
80,000
––––––––
185,000
Overheadcostperunit=185,000/4,000=$46·
25
19
20
Thisisanexampleoffeedforwardcontrolasthemanagerisusingaforecasttoassistinmakingafuturedecision.
Ifdemandisinelasticortheproductlifecycleisshort,apriceskimmingapproachwouldbemoreappropriate.
SectionB
1ChairCo
(a)
Learningcurveformula=y=axb
Cumulativeaveragetimeperunitfor8units:
Y=12x8–·
415
=5·
0628948hours.
Thereforecumulativetotaltimefor8units=40·
503158hours.
Cumulativeaveragetimeperunitfor7units:
Y=12x7–·
3513771hours.
Thereforecumulativetotaltimefor7units=37·
45964hours.
Thereforeincrementaltimefor8thunit=40·
503158hours–37·
45964hours=3·
043518hours.
Totallabourcostfor8thunit=3·
043518x$15=$45·
65277
Materialandoverheadscostperunit=$230
Thereforetotalcostperunit=$275·
Thereforepriceperunit=$413·
47915
(b)
(i)
Actuallearningrate
Cumulativenumberof
seatsproduced
Cumulativetotal
Cumulativeaverage
hoursperunit
12·
5xr
5xr2
hours
34·
5xr3
Usingalgebra:
34·
3=8x(12·
5xr3)
4·
2875=(12·
0·
343=r3
r=0·
70
Thelearningeffectwas70%ascomparedtotheforecastrateof75%,meaningthatthelabourforcelearntmorequickly
thananticipated.
(ii)
Adjustedprice
Theadjustedpricechargedwillbelowerthantheoriginalpricecalculatedinpart(a).Thisisbecausetheincremental
costofthe8thunitwillbelowergiventhe70%learningrate,eventhoughthefirstunittook12·
5hours.Weknowthis
becausewearetoldthatthecumulativetimefor8unitswasactually34·
3hours.Thisislowerthantheestimated
cumulativetimeinpart(a)for8unitsof40·
503158hoursandtherefore,logically,theactualincrementaltimeforthe
8thunitmustbelowerthantheestimated3·
043518hourscalculatedinpart(a).Consequently,totalcostwillbelower
andpricewillbelower,giventhatthisisbasedoncost.
GlamCo
Bottleneckactivity
Thebottleneckmayhavebeenworkedoutasfollows:
Totalsalonhours=8x6x50=2,400eachyear.Thecapacityforeachseniorstylistmustbe2,400hours,whichequates
to2,400cutseachyear(2,400/1).Sincetherearethreeseniorstylists,thetotalcapacityis7,200hoursor7,200cutseach
year.Usingthismethod,thecapacityforeachactivityisasfollows:
Cut
Treatment
16,000
4,800
Assistants
Seniorstylists
Juniorstylists
48,000
7,200
9,600
Thebottleneckactivityisclearlytheworkperformedbytheseniorstylists.
Theseniorstylists’timeiscalledabottleneckactivitybecauseitistheactivitywhichpreventsthesalon’sthroughputfrom
beinghigherthanitis.Thetotalnumberofcutsortreatmentswhichcanbecompletedbythesalon’sseniorstylistsisless
thanthenumberwhichcanbecompletedbyotherstaffmembers,consideringthenumberofeachtypeofstaffavailableand
thetimerequiredbyeachtypeofstaffforeachclient.
TPAR
Sellingprice
60
110
Materials
Throughput
Throughputperbottleneckhour
TotalsaloncostsperBNhour(w1)
59·
40
42·
56
1·
8(7·
40+0·
6)
102
68
Working1:
Totalsaloncosts
(3x$40,000)+(2x$28,000)+(2x$12,000)+$106,400=$306,400
Thereforecostforeachbottleneckhour=$306,400/7,200=$42·
Note:
Answersbasedontotalsalarycostswere$80,000werealsoequallyacceptablesincethewordingofquestionwas
opentointerpretation.
HiLifeCo
Directmaterials:
Fabric
Wood
Note
200m2at$17·
50perm2
20mat$8·
20perm
30mat$8·
50perm
3,500
164
255
Directlabour:
Skilled
Semi-skilled
Factoryoverheads
Administrationoverheads
50hoursat$24perhour
300hoursat$14perhour
20hoursat$15perhour
1,200
4,200
300
–––––––
Totalcost
9,619
––––––
SincethematerialisinregularusebyHLCo,itisreplacementcostwhichistherelevantcostforthecontract.
30mwillhavetobeorderedfromthealternativesupplierforimmediatedeliverybuttheremaining20mcanbeusedfrom
inventoryandreplacedbyanorderfromtheusualsupplieratacostof$8·
20perm.
Thereisnocostforthefirst150hoursoflabourbecausethereissparecapacity.Theremaining50hourswillbepaidattime
andahalf,whichis$16x1·
5,i.e.$24perhour.
HLCowillchoosetousetheagencyworkers,whowillcost$14perhour,sincethisischeaperthanpayingexisting
semi-skilledworkersat$18perhour($12x1·
5)toworkovertime.
Noneofthegeneralfactorycostsareincremental,sotheyhaveallbeenexcluded.However,thesupervisor’sovertimepayis
incremental,sohasbeenincluded.Thesupervisor’snormalsalary,ontheotherhand,hasbeenexcludedbecauseitisnot
incremental.
Thesearegeneraloverheadsandarenotincremental,sonovalueshouldbeincludedforthem.
Jamair
Thefourperspectives
Financialperspective–thisperspectiveisconcernedwithhowacompanylookstoitsshareholders.Howcanitcreatevalue
forthem?
KaplanandNortonidentifiedthreecorefinancialthemeswhichwilldrivethebusinessstrategy:
revenuegrowth
andmix,costreductionandassetutilisation.
Customerperspective–thisconsidershowtheorganisationappearstocustomers.Theorganisationshouldaskitself:
‘to
achieveourvision,howshouldweappeartoourcustomers?
’Thecustomerperspectiveshouldidentifythecustomerand
marketsegmentsinwhichthebusinesswillcompete.Thereisastronglinkbetweenthecustomerperspectiveandthe
revenueobjectivesinthefinancialperspective.Ifcustomerobjectivesareachieved,revenueobjectivesshouldbetoo.
Internalperspective–thisrequirestheorganisationtoaskitself:
‘whatmustweexcelattoachieveourfinancialandcust
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