ACCA考试F5模拟测试题目答案Word格式文档下载.docx

1、sales sales margin volumevolume volume variance$ $Plasma TVs 750 590 160 190 30,400 FLCD TVs 650 590 60 180 10,800 F 1,400 1,180 41,200 F（ii） Material price planning and purchasing operational variancesMaterial planning variance = （original target price general market price at time of purchase） x qu

2、antity purchased（$60 $85） x 1,400 = $35,000 A.Material price operational variance = （general market price at time of purchase actual price paid） x quantity purchased.（$85 $80） x 1,400 = $7,000 F.（iii） Labour rate and labour efficiency variancesLabour rate variance = （standard labour rate per hour ac

3、tual labour rate per hour） x actual hours worked.Actual hours worked by temporary workers:Total hours needed if staff were fully efficient = （750 x 2） + （650 x 15） = 2,475.Permanent staff provide 2,200 hours therefore excess = 2,475 2,200 = 275.However, temporary workers take twice as long, therefor

4、e hours worked = 275 x 2 = 550Labour rate variance relates solely to temporary workers, therefore ignore permanent staff in the calculation.Labour rate variance = （$14 $18） x 550 = $2,200 A.Labour efficiency variance = （standard labour hours for actual production actual labour hours worked） x standa

5、rd rate.（275 550） x $14 = $3,850 A.（b） Explanation of planning and operational variancesBefore the material price planning and operational variances were calculated, the only information available as regardsmaterial purchasing was that there was an adverse material price variance of $28,000. The pur

6、chasing department will beassessed on the basis of this variance, yet, on its own, it is not a reliable indicator of the purchasing departments efficiency.The reason it is not a reliable indicator is because market conditions can change, leading to an increase in price, and thischange in market cond

7、itions is not within the control of the purchasing department.By analysing the materials price variance further and breaking it down into its two components planning and operational the variance actually becomes a more useful assessment tool. The planning variance represents the uncontrollable eleme

8、ntand the operational variance represents the controllable element.The planning variance is a really useful for providing feedback on just how skilled management are in estimating future prices.This can be very easy in some businesses and very difficult in others.The operational variance is more mea

9、ningful in that it measures the purchasing departments efficiency given the marketconditions that prevailed at the time. It therefore ignores factors that the purchasing department cannot control, which in turn,stops staff from becoming demotivated.112 TurnoverTurnover has decreased from $72025 mill

10、ion in 2009 to $66028 million in 2010, a fall of 83%. However, this must beassessed by taking into account the change in market conditions, since there has been a 20% decline in demand for accountancytraining. Given this 20% decline in the market place, AT Cos turnover would have been expected to fa

11、ll to $5762m if it had keptin line with market conditions. Comparing AT Cos actual turnover to this, its actual turnover is 146% higher than expected. Assuch, AT Co has performed fairly well, given market conditions.It can also be seen from the non-financial performance indicators that 20% of studen

12、ts in 2010 are students who have transferredover from alternative training providers. It is likely that they have transferred over because they have heard about the improvedservice that AT Co is providing. Hence, they are most likely the reason for the increased market share that AT Co has managed t

13、osecure in 2010.Cost of salesCost of sales has decreased by 192% in 2010. This must be considered in relation to the decrease in turnover as well. In 2009,cost of sales represented 723% of turnover and in 2010 this figure was 637%. This is quite a substantial decrease. The reasonsfor it can be ascer

14、tained by, firstly, looking at the freelance staff costs.In 2009, the freelance costs were $14582m. Given that a minimum 10% reduction in fees had been requested to freelancelecturers and the number of courses run by them was the same year on year, the expected cost for freelance lecturers in 2010 w

15、as$13124m. The actual costs were $12394m. These show that a fee reduction of 15% was actually achieved. This can be seenas a successful reduction in costs.The expected cost of sales for 2010 before any cost cuts, was $47738m assuming a consistent ratio of cost of sales to turnover.The actual cost of

16、 sales was only $42056m, $5682m lower. Since freelance lecturer costs fell by $2188m, this means thatother costs of sale fell by the remaining $3494m. Staff costs are a substantial amount of this balance but since there was a payfreeze and the average number of employees hardly changed from year to

17、year, the decreased costs are unlikely to be related tostaff costs. The decrease is therefore most probably attributable to the introduction of online marking. AT Co expected the onlinemarking system to cut costs by $4m, but it is probable that the online marking did not save as much as possible, he

18、nce the$3494m fall. Alternatively, the saved marking costs may have been partially counteracted by an increase in some other costincluded in cost of sales.Gross profitAs a result of the above, the gross profit margin has increased in 2010 from 277% to 363%. This is a big increase and reflectsvery we

19、ll on management.Indirect expenses Marketing costs: These have increased by 421% in 2010. Although this is quite significant, given all the improvements thatAT Co has made to the service it is providing, it is very important that potential students are made aware of exactly what thecompany now offer

20、s. The increase in marketing costs has been rewarded with higher student numbers relative to thecompetition in 2010 and these will hopefully continue increasing next year, since many of the benefits of marketing wont befelt until the next year anyway. The increase should therefore be viewed as essen

21、tial expenditure rather than a cost that needsto be reduced. Property costs: These have largely stayed the same in both years. Staff training: These costs have increased dramatically by over $2 million, a 1639% increase. However, AT Co had identifiedthat it had a problem with staff retention, which

22、was leading to a lower quality service being provided to students. Also, dueto the introduction of the interactive website, the electronic enrolment system and the online marking system, staff wouldhave needed training on these areas. If AT Co had not spent this money on essential training, the qual

23、ity of service wouldhave deteriorated further and more staff would have left as they became increasingly dissatisfied with their jobs. Again,therefore, this should be seen as essential expenditure.Given that the number of student complaints has fallen dramatically in 2010 to 84 from 315, the staff t

24、raining appears tohave improved the quality of service being provided to students. Interactive website and the student helpline: These costs are all new this year and result from an attempt to improve thequality of service being provided and, presumably, improve pass rates. Therefore, given the incr

25、ease in the pass rate for firsttime passes from 48% to 66% it can be said that these developments have probably contributed to this. Also, they haveprobably played a part in attracting new students, hence improving turnover. Enrolment costs have fallen dramatically by 809%. This huge reduction is a

26、result of the new electronic system beingintroduced. This system can certainly be seen as a success, as not only has it dramatically reduced costs but it has alsoreduced the number of late enrolments from 297 to 106.Net operating profitThis has fallen from $3635m to $2106m. On the face of it, this l

27、ooks disappointing but it has to be remembered that AT Co hasbeen operating in a difficult market in 2010. It could easily have been looking at a large loss. Going forward, staff training costswill hopefully decrease. Also, market share may increase further as word of mouth spreads about improved re

28、sults and service atAT Co. This may, in turn, lead to a need for less advertising and therefore lower marketing costs.12It is also apparent that AT Co has provided the student website free of charge when really, it should have been charging a fee forthis. The costs of running it are too high for the

29、 service to be provided free of charge and this has had a negative impact on netoperating profit.Note: Students would not have been expected to write all this in the time available.Workings （Note: All workings are in $000）1. TurnoverDecrease in turnover = $72,025 $66,028/$72,025 = 83%Expected 2010 t

30、urnover given 20% decline in market = $72,025 x 80% = $57,620Actual 2010 turnover CF expected = $66,028 $57,620/$57,620 = 146% higher2. Cost of salesDecrease in cost of sales = $42,056 $52,078/$52,078 = 192%Cost of sales as percentage of turnover: 2009 = $52,078/$72,025 = 722010 = $42,056/$66,028 = 637%Freelance staff costs: in 2009 = $41,663 x 35% = $14,582Expected cost for 2010 = $14,5