最新acca f2考试真题.docx
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最新accaf2考试真题
6月accaf2考试真题
FundamentalsLevel–KnowledgeModule
Management
Accounting
SpecimenExamapplicablefromJune2014
Timeallowed:
2hours
Thispaperisdividedintotwosections:
SectionA–ALL35questionsarecompulsoryandMUST
beattempted
SectionB–ALLTHREEquestionsarecompulsoryandMUST
beattempted
FormulaeSheet,PresentValueandAnnuityTablesareon
pages16,17and18.
DoNOTopenthispaperuntilinstructedbythesupervisor.
Thisquestionpapermustnotberemovedfromtheexaminationhall.
TheAssociationofCharteredCertifiedAccountants
SectionA–ALL35questionsarecompulsoryandMUSTbeattempted
PleaseusethespaceprovidedontheinsidecoveroftheCandidateAnswerBooklettoindicateyourchosenanswerto
eachmultiplechoicequestion.
Eachquestionisworth2marks.
1
Amanufacturingcompanybenchmarkstheperformanceofitsaccountsreceivabledepartmentwiththatofaleading
creditcardcompany.
Whattypeofbenchmarkingisthecompanyusing?
A
B
C
D
Internalbenchmarking
Competitivebenchmarking
Functionalbenchmarking
Strategicbenchmarking
2
3
WhichofthefollowingBESTdescribestargetcosting?
A
B
C
D
Settingacostbysubtractingadesiredprofitmarginfromacompetitivemarketprice
Settingapricebyaddingadesiredprofitmargintoaproductioncost
Settingacostfortheuseinthecalculationofvariances
Settingasellingpriceforthecompanytoaimforinthelongrun
Informationrelatingtotwoprocesses（FandG）wasasfollows:
Process
Normallossas
%ofinput
Input
（litres）
Output
（litres）
F
G
8
5
65,000
37,500
58,900
35,700
Foreachprocess,wasthereanabnormallossoranabnormalgain?
ProcessF
ProcessG
A
B
C
D
Abnormalgain
Abnormalgain
Abnormalloss
Abnormalloss
Abnormalgain
Abnormalloss
Abnormalgain
Abnormalloss
4
Thefollowingbudgetedinformationrelatestoamanufacturingcompanyfornextperiod:
Units
$
Production
Sales
14,000
12,000
Fixedproductioncosts
Fixedsellingcosts
63,000
12,000
Thenormallevelofactivityis14,000unitsperperiod.
Usingabsorptioncostingtheprofitfornextperiodhasbeencalculatedas$36,000.
Whatwouldbetheprofitfornextperiodusingmarginalcosting?
A
B
C
D
$25,000
$27,000
$45,000
$47,000
2
5
TheEastlandPostalServiceisgovernmentowned.Thegovernmentrequiresittoprovideaparceldeliveryserviceto
everyhomeandbusinessinEastlandatalowpricewhichissetbythegovernment.ExpressCouriersCoisaprivately
ownedparceldeliverycompanythatalsooperatesinEastland.Itisnotsubjecttogovernmentregulationandmostof
itsdeliveriesaretolargebusinesseslocatedinEastland’scapitalcity.Youhavebeenaskedtoassesstherelative
efficiencyofthemanagementofthetwoorganisations.
WhichofthefollowingfactorsshouldNOTbeallowedforwhencomparingtheROCEofthetwoorganisationsto
assesstheefficiencyoftheirmanagement?
A
B
C
D
Differencesinpricescharged
Differencesinobjectivespursued
Differencesinworkforcemotivation
Differencesingeographicareasserved
6
Underwhichsamplingmethoddoeseverymemberofthetargetpopulationhasanequalchanceofbeinginthe
sample?
A
B
C
D
Stratifiedsampling
Randomsampling
Systematicsampling
Clustersampling
7
ACompanymanufacturesandsellsoneproductwhichrequires8kgofrawmaterialinitsmanufacture.Thebudgeted
datarelatingtothenextperiodareasfollows:
Units
Sales
Openinginventoryoffinishedgoods
Closinginventoryoffinishedgoods
19,000
4,000
3,000
Kg
Openinginventoryofrawmaterials
Closinginventoryofrawmaterials
50,000
53,000
Whatisthebudgetedrawmaterialpurchasesfornextperiod（inkg）?
A
B
C
D
141,000
147,000
157,000
163,000
3
[P.T.O.
8
Uptoagivenlevelofactivityineachperiodthepurchasepriceperunitofarawmaterialisconstant.Afterthatpoint
alowerpriceperunitappliesbothtofurtherunitspurchasedandalsoretrospectivelytoallunitsalreadypurchased.
Whichofthefollowinggraphsdepictsthetotalcostoftherawmaterialsforaperiod?
$
$
A
B
0
0
$
$
C
D
0
0
A
B
C
D
GraphA
GraphB
GraphC
GraphD
9
Whichofthefollowingarebenefitsofbudgeting?
1
2
3
4
Ithelpscoordinatetheactivitiesofdifferentdepartments
Itfulfilslegalreportingobligations
Itestablishesasystemofcontrol
Itisastartingpointforstrategicplanning
A
B
C
D
1and4only
1and3only
2and3only
2and4only
10Thefollowingstatementsrelatetotheparticipationofjuniormanagementinsettingbudgets:
1.
2.
3.
Itspeedsupthesettingofbudgets
Itincreasesthemotivationofjuniormanagers
Itreducesthelevelofbudgetpadding
Whichstatementsaretrue?
A
B
C
D
1only
2only
2and3only
1,2and3
4
11Acompanyhasacapitalemployedof$200,000.Ithasacostofcapitalof12%peryear.Itsresidualincomeis
$36,000.
Whatisthecompany’sreturnoninvestment?
A
B
C
D
30%
12%
18%
22%
12Acompanyhascalculateda$10,000adversedirectmaterialvariancebysubtractingitsflexedbudgetdirectmaterial
costfromitsactualdirectmaterialcostfortheperiod.
Whichofthefollowingcouldhavecausedthevariance?
（1）Anincreaseindirectmaterialprices
（2）Anincreaseinrawmaterialusageperunit
（3）Unitsproducedbeinggreaterthanbudgeted
（4）Unitssoldbeinggreaterthanbudgeted
A
B
C
D
2and3only
3and4only
1and2only
1and4only
13Acompanyhasrecordedthefollowingvariancesforaperiod:
Salesvolumevariance
Salespricevariance
Totalcostvariance
$10,000adverse
$5,000favourable
$12,000adverse
Standardprofitonactualsalesfortheperiodwas$120,000.
Whatwasthefixedbudgetprofitfortheperiod?
A
B
C
D
$137,000
$103,000
$110,000
$130,000
14Whichofthefollowingaresuitablemeasuresofperformanceatthestrategiclevel?
（1）Returnoninvestment
（2）Marketshare
（3）Numberofcustomercomplaints
A
B
C
D
1and2
2only
2and3
1and3
5
[P.T.O.
15Whichofthefollowingarefeasiblevaluesforthecorrelationcoefficient?
1
2
3
4
+1·40
+1·04
0
–0·94
A
B
C
D
1and2only
3and4only
1,2and4only
1,2,3and4
16Acompany’soperatingcostsare60%variableand40%fixed.
Whichofthefollowingvariances’valueswouldchangeifthecompanyswitchedfromstandardmarginalcosting
tostandardabsorptioncosting?
A
B
C
D
Directmaterialefficiencyvariance
Variableoverheadefficiencyvariance
Salesvolumevariance
Fixedoverheadexpenditurevariance
17ABCCohasamanufacturingcapacityof10,000units.Theflexedproductioncostbudgetofthecompanyisas
follows:
Capacity
60%
100%
Totalproductioncosts
$11,280
$15,120
Whatisthebudgetedtotalproductioncostifitoperatesat85%capacity?
A
B
C
D
$13,680
$12,852
$14,025
$12,340
18Usinganinterestrateof10%peryearthenetpresentvalue（NPV）ofaprojecthasbeencorrectlycalculatedas$50.
Iftheinterestrateisincreasedby1%theNPVoftheprojectfallsby$20.
Whatistheinternalrateofreturn（IRR）oftheproject?
A
B
C
D
7·5%
11·7%
12·5%
20·0%
6
19Afactoryconsistsoftwoproductioncostcentres（PandQ）andtwoservicecostcentres（XandY）.Thetotalallocated
andapportionedoverheadforeachisasfollows:
P
Q
X
Y
$95,000
$82,000
$46,000
$30,000
Ithasbeenestimatedthateachservicecostcentredoesworkforothercostcentresinthefollowingproportions:
P
50
30
Q
50
60
X
–
10
Y
–
–
PercentageofservicecostcentreXto
PercentageofservicecostcentreYto
Thereapportionmentofservicecostcentrecoststoothercostcentresfullyreflectstheaboveproportions.
Afterthereapportionmentofservicecostcentrecostshasbeencarriedout,whatisthetotaloverheadfor
productioncostcentreP?
A
B
C
D
$124,500
$126,100
$127,000
$128,500
20AcompanyalwaysdeterminesitsorderquantityforarawmaterialbyusingtheEconomicOrderQuantity（EOQ）
model.
WhatwouldbetheeffectsontheEOQandthetotalannualholdingcostofadecreaseinthecostoforderinga
batchofrawmaterial?
EOQ
Annualholdingcost
Lower
Higher
Higher
Lower
A
B
C
D
Higher
Higher
Lower
Lower
21Acompanywhichoperatesaprocesscostingsystemhadwork-in-progressatthestartoflastmonthof300units
（valuedat$1,710）whichwere60%completeinrespectofallcosts.Lastmonthatotalof2,000unitswere
completedandtransferredtothefinishedgoodswarehouse.Thecostperequivalentunitforcostsarisinglastmonth
was$10.ThecompanyusestheFIFOmethodofcostallocation.
Whatwasthetotalvalueofthe2,000unitstransferredtothefinishedgoodswarehouselastmonth?
A
B
C
D
$19,910
$20,000
$20,510
$21,710
22Amanufacturingcompanyoperatesastandardabsorptioncostingsystem.Lastmonth25,000productionhourswere
budgetedandthebudgetedfixedproductioncostwas$125,000.Lastmonththeactualhoursworkedwere24,000
andstandardhoursforactualproductionwere27,000.
Whatwasthefixedproductionoverheadcapacityvarianceforlastmonth?
A
B
C
D
$5,000Adverse
$5,000Favourable
$10,000Adverse
$10,000Favourable
7
[P.T.O.
23Thefollowingstatementshavebeenmadeaboutvalueanalysis.
（1）Itseeksthelowestcostmethodofachievingadesiredfunction
（2）Italwaysresultsininferiorproducts
（3）Itignoresesteemvalue
Whichis/aretrue?
A
B
C
D
1only
2only
3only
1and3only
24Underwhichofthefollowinglabourremunerationmethodswilldirectlabourcostalwaysbeavariablecost?
A
B
C
D
Dayrate
Piecerate
Differentialpiecerate
Groupbonussc
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