快速查题-ACCA英国注册会计师试题

A company needs to produce 340 litres of Chemical X. There is a normal loss of 10% of the material input into the process. During a given month the company did produce 340 litres of good production, although there was an abnormal loss of 5% of the material input into the process.How many litres of material were input into the process during the month?

A company uses process costing to establish the cost per unit of its output. The following information was available for the last month:

Input units                             10,000

Output units                           9,850

Opening inventory                 300 units, 100% complete for materials

                                              and 70% complete for conversion costs

Closing inventory                   450 units, 100% complete for materials

                                              and 30% complete for conversion costs

Thecompany uses the weighted average method of valuing inventory.What were the equivalent units for conversion costs?

A company operates a continuous process into which 3,000 units of material costing $9,000 was input in a period. Conversion costs for this period were $11,970 and losses, which have a scrap value of $1.50, are expected at a rate of 10% of input. There were no opening or closing inventories and output for the period was 2,900 units.What was the output valuation?

The following information relates to a company's polishing process for the previous period.

Output to finished goods                  5,408 units valued at $29,744

Normal loss                                       276 units

Actual loss                                       112 units

All losses have a scrap value of $2.50 per unit and there was no opening or closing work in progress. What was the value of the input during the period?

Which of the following statements about process losses are correct?

(i) Units of normal loss should be valued at full cost per unit

(ii) Units of abnormal loss should be valued at their scrap value

Which of the following statements is/are correct?(i) A by-product is a product produced at the same time as other products which has a relatively low volume compared with the other products(ii) Since a by-product is a saleable item it should be separately costed in the process account, and should absorb some of the process costs(iii) Costs incurred prior to the point of separation are known as common or joint costs

Which of the following statements is/are correct?(i) A by-product is a product produced at the same time as other products which has a relatively low volume compared with the other products(ii) Since a by-product is a saleable item it should be separately costed in the process account, and should absorb some of the process costs(iii) Costs incurred prior to the point of separation are known as common or joint costs

A company manufactures two joint products and one by-product in a single process. Data for November are as follows.

                                                    $

Raw material input                216,000

Conversion costs                   72,000

There were no inventories at the beginning or end of the period. 

                                                               Output                                     Sales price 

                                                                Units                                       $ per unit

Joint product E                                       21,000                                            15

Joint product Q                                      18,000                                            10

By-product X                                           2,000                                              2

By-product sales revenue is credited to the process account. Joint costs are apportioned on a sales value basis. What were the full production costs of product Q in November (to the nearest $)?

When opening inventory was 8,500 litres and closing inventory was 6,750 litres, a firm had a profit of $62,100 using marginal costing.

Assuming that the fixed overhead absorption rate was $3 per litre, what would be the profit using absorption costing?

  $______

Which of the following relate to marginal costing and which to absorption costing?

                                                                                                                                 Marginal  costing           Absorption  costing

The cost of a product includes an allowance for fixed production costs.  

The cost of a product represents the additional cost of producing an extra unit.  

The following data are for questions 155 and 156

The budget for Bright's first month of trading, producing and selling boats was as follows:

                                                                   $000

Variable production cost of boats               45

Fixed production costs                               30

Production costs of 750 boats                   75

Closing inventory of 250 boats                 (25)

Production cost of 500 sold                       50

Variable selling costs                                 5

Fixed selling costs                                     25

                                                                  80

Profit                                                         10

Sales revenue                                           90

The budget has been produced using an absorption costing system.