ACCA F5考试真题答案.docx

1、ACCA F5考试真题答案 Answers Fundamentals Level Skills Module, Paper F5Performance ManagementDecember 2014 AnswersSection A1ADivision A: Profit = $144m x 30% = $432mImputed interest charge = $326m x 10% = $326mResidual income = $106mDivision B: Profit = 88m x 24% = $2112mImputed interest charge = $222m x 1

2、0% = $222mResidual income = $(0108)m2345DAll costs are included when using life cycle costing.AThis is the definition of a basic standard.BThe first statement is describing management control, not strategic planning.CNumber of units required to make target profit = fixed costs + target profit/contri

3、bution per unit of P1.Fixed costs = ($12 x 10,000) + ($1 x 12,500) $2,500 = $22,000.Contribution per unit of P = $320 + $120 = $440.($22,000 + $60,000)/$440 = 18,636 units.6AProductABCDSelling price per unitRaw material costDirect labour cost at $11 per hourVariable overhead costContribution per uni

4、t$160$24$66$24$214$56$88$18$100$22$33$24$140$40$22$18$46$52$21$60Direct labour hours per unitContribution per labour hourRank6$76728$65043$72$3013Normal monthly hours (total units x hours per unit)1,8001,000720800If the strike goes ahead, only 2,160 labour hours will be available.Therefore make all

5、of D, then 1,360 hours worth of A (2,160 800 hrs).78B460 400 = 60 clients$40,000 $36,880 = $3,120VC per unit = $3,120/60 = $52Therefore FC = $40,000 (460 x $52) = $16,080BIncrease in variable costs from buying in (2,200 units x $40 ($140 $100) = $88,000Less the specific fixed costs saved if A is shu

6、t down = ($10,000)Decrease in profit = $78,00017 9AOnly the first statement is correct. Traditional absorption costing tends to over-allocate costs to high volume products, notunder-allocate them.1011BBy definition, a shadow price is the amount by which contribution will increase if an extra kg of m

7、aterial becomes available. 20 x$280 = $56.CNeither statement is correct. Responsibility is not assigned solely to senior managers as, for example, in a TQM environment qualityis everybodys responsibility. In addition, standard costing can be difficult to apply in dynamic situations.1213AThe second s

8、tatement is talking about flow cost accounting, not input/output analysis.DTarget 1 is a financial target and so assesses economy factors. Target 2 is measuring the rate of work handled by staff which is anefficiency measure. Target 3 is assessing output, so is a measure of effectiveness.1415BIn com

9、parison to participative budgeting, an advantage of non-participative budgeting is that it should be less time consuming, asless collaboration will be required in order to produce the budgets.CThe target costing process always begins with the target selling price being set. The required profit is th

10、en determined and deductedfrom the target selling price to estimate the target cost. The target cost is then compared to the estimated current cost and the costgap is then calculated.1617AThis is a description of an incremental budget.ANew profit figures before salary paid:Good manager: $180,000 x 1

11、3 = $234,000Average manager: $180,000 x 12 = $216,000Poor: $180,000 x 11 = $198,000EV of profits = (035 x $234,000) + (045 x $216,000) + (02 x $198,000) = $81,900 + $97,200 + $39,600 = $218,700Deduct salary cost and EV with manager = $178,700Therefore do not employ manager as profits will fall by $1

12、,300.18BSet-up costs per production run = $140,000/28 = $5,000Cost per inspection = $80,000/8 = $10,000Other overhead costs per labour hour = $96,000/48,000 = $2Overheads costs of product D:$Set-up costs (15 x $5,000)Inspection costs (3 x $10,000)Other overheads (40,000 x $2)75,00030,00080,000185,00

13、0Overhead cost per unit = 185,000/4,000 = $462518 1920AThis is an example of feedforward control as the manager is using a forecast to assist in making a future decision.AIf demand is inelastic or the product life cycle is short, a price skimming approach would be more appropriate.19 Section B1 Chai

14、r Co(a)Learning curve formula = y = axbCumulative average time per unit for 8 units:Y = 12 x 8415= 50628948 hours.Therefore cumulative total time for 8 units = 40503158 hours.Cumulative average time per unit for 7 units:Y = 12 x 7415= 53513771 hours.Therefore cumulative total time for 7 units = 3745

15、964 hours.Therefore incremental time for 8th unit = 40503158 hours 3745964 hours = 3043518 hours.Total labour cost for 8th unit =3043518 x $15 = $4565277Material and overheads cost per unit = $230Therefore total cost per unit = $27565277Therefore price per unit = $41347915(b)(i)Actual learning rateC

16、umulative number ofseats produced1248Cumulative totalCumulative averagehours per unit125125 x r125 x r2hours125343125 x r3Using algebra: 343 = 8 x (125 x r3)42875 = (125 x r3)0343 = r3r = 070The learning effect was 70% as compared to the forecast rate of 75%, meaning that the labour force learnt mor

17、e quicklythan anticipated.(ii)Adjusted priceThe adjusted price charged will be lower than the original price calculated in part (a). This is because the incrementalcost of the 8th unit will be lower given the 70% learning rate, even though the first unit took 125 hours. We know thisbecause we are to

18、ld that the cumulative time for 8 units was actually 343 hours. This is lower than the estimatedcumulative time in part (a) for 8 units of 40503158 hours and therefore, logically, the actual incremental time for the8th unit must be lower than the estimated 3043518 hours calculated in part (a). Conse

19、quently, total cost will be lowerand price will be lower, given that this is based on cost.2Glam CoBottleneck activity(a)The bottleneck may have been worked out as follows:Total salon hours = 8 x 6 x 50 = 2,400 each year. The capacity for each senior stylist must be 2,400 hours, which equatesto 2,40

20、0 cuts each year (2,400/1). Since there are three senior stylists, the total capacity is 7,200 hours or 7,200 cuts eachyear. Using this method, the capacity for each activity is as follows:CutTreatment16,0004,800AssistantsSenior stylistsJunior stylists48,0007,2009,6009,600The bottleneck activity is

21、clearly the work performed by the senior stylists.The senior stylists time is called a bottleneck activity because it is the activity which prevents the salons throughput frombeing higher than it is. The total number of cuts or treatments which can be completed by the salons senior stylists is lesst

22、han the number which can be completed by other staff members, considering the number of each type of staff available andthe time required by each type of staff for each client.20 (b)TPARCut$Treatment$Selling price60110MaterialsThroughputThroughput per bottleneck hourTotal salon costs per BN hour (w1

23、)TPAR060594059404256148 (740+06)10268425616Working 1: Total salon costs(3 x $40,000) + (2 x $28,000) + (2 x $12,000) + $106,400 = $306,400Therefore cost for each bottleneck hour = $306,400/7,200 = $4256Note: Answers based on total salary costs were $80,000 were also equally acceptable since the word

24、ing of question wasopen to interpretation.3Hi Life CoDirect materials:FabricWoodNote12$200 m2 at $1750 per m220 m at $820 per m30 m at $850 per m3,5001642552Direct labour:SkilledSemi-skilledFactory overheadsAdministration overheads50 hours at $24 per hour300 hours at $14 per hour20 hours at $15 per

25、hour34561,2004,200300Total cost9,61912Since the material is in regular use by HL Co, it is replacement cost which is the relevant cost for the contract.30 m will have to be ordered from the alternative supplier for immediate delivery but the remaining 20 m can be used frominventory and replaced by a

26、n order from the usual supplier at a cost of $820 per m.345There is no cost for the first 150 hours of labour because there is spare capacity. The remaining 50 hours will be paid at timeand a half, which is $16 x 15, i.e. $24 per hour.HL Co will choose to use the agency workers, who will cost $14 pe

27、r hour, since this is cheaper than paying existingsemi-skilled workers at $18 per hour ($12 x 15) to work overtime.None of the general factory costs are incremental, so they have all been excluded. However, the supervisors overtime pay isincremental, so has been included. The supervisors normal sala

28、ry, on the other hand, has been excluded because it is notincremental.6These are general overheads and are not incremental, so no value should be included for them.4Jamair(a)The four perspectivesFinancial perspective this perspective is concerned with how a company looks to its shareholders. How can

29、 it create valuefor them? Kaplan and Norton identified three core financial themes which will drive the business strategy: revenue growthand mix, cost reduction and asset utilisation.Customer perspective this considers how the organisation appears to customers. The organisation should ask itself: to

30、achieve our vision, how should we appear to our customers? The customer perspective should identify the customer andmarket segments in which the business will compete. There is a strong link between the customer perspective and therevenue objectives in the financial perspective. If customer objectives are achieved, revenue objectives should be too.Internal perspective this requires the organisation to ask itself: what must we excel at to achieve our financial and cust