BA2 Practice Questions
Fundamentals of management accounting
Last Update 23 hours ago
Total Questions : 392
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In a manufacturing company which produces a range of products, the production manager's salary would be classified as
A.
In an integrated cost and financial accounting system, the accounting entries for the payment of net wages to indirect production workers would be:
Refer to the exhibit.
WS operates an integrated accounting system. Transactions relating to production overheads for the month of May were as follows:
Indirect Material costs were $15,000
Indirect Labour Costs were $45,000
Production overheads of $58,000 were incurred during the period.
Depreciation of factory machinery amounted to $32,000.
Overheads costs absorbed by production using a standard absorption rate was $164,000 for the period.
What are the correct entries to record the absorption of production overheads for the period?
The correct set of entries to record the absorption of production overheads for the period is:
Refer to the Exhibit.
The following budgetary information is available for a department in a manufacturing company:
The production overhead absorption rate percentage, when the percentage on prime cost is used, is:
Refer to the Exhibit.
A company operates an absorption costing system. The management accounts show that fixed production overheads were over-absorbed in the period.
Which FOUR combinations could possibly have resulted in this situation?
Which ONE of the following would be the LEAST effective performance indicator for a distribution manager who is responsible for controlling the cost of the transport fleet?
Refer to the exhibit.
SP, a manufacturing company, uses a standard costing system. The standard variable production overhead cost is based on the following budgeted figures for the year:
During the month of September, 5,300 actual hours were worked and 5,600 standard hours of output were produced. Total variable production overhead costs in September were $8,600.
What was the total variable production overhead variance in September?
A company uses an integrated accounting system.
The accounting entries for the sale of goods on credit would b
E.
CVP Limited manufactures a single product with a selling price of $25.60. Fixed costs are $122,880 per month and the product has a profit/volume ratio of 40%.
In a month when actual sales were $358,400, CVP's margin of safety in units was
