Bài kiểm tra số 1

Question 1
The following data is available for the number of materials purchased and the total cost.
Number of units purchased Total cost
x y
1 -5
2 -10
3 -15
4 -20
Without using the formula, state the correlation coefficient between the two variables.
a. -0.9
b. -1
c. +0.9
d. +1
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Theo lý thuyết: -1 ≤ r ≤ 1

x và y tương quan nghịch nhau (trái dấu) => r = -1

Question 2
The following information relates to company’s semi-variable production overheads.
Year Output (units) Overhead($) Relevant price
2017 2,000 5,500 100
2018 2,800 8,500 135
What is the variable overhead cost per units, expressed in 2018 prices?
a. $1.34
b. $1.20
c. $1.38
d. $1.00
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Question 3

The following data relates to a company's overhead cost.

Time Output Overhead cost Price index
 (units) ($)
2 years ago 1,000 2,400 90
Current year 5,000 11,500 125
Using the high low technique, what is the variable cost per unit (to the nearest $0.01) expressed in current
year prices?
Question 3Select one:

a.
$2.6
b.
$2.04
c.
$2.5
d.
$3.6
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Your answer is correct.

The correct answer is: $2.04
Question 4
The standard cost card for a company’s only product is given below:
$ per unit

Selling price
140

Variable cost
100

Fixed cost
20

Profit
30
For period, budgeted production and sales were 6,000 units, whilst actual production and sales were 5,000
units.
What is the flexed budget profit?
Question 4Select one:

a.
None of these
b.
$70,000
c.
$80,000
d.
$60,000
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Your answer is correct.

The correct answer is: $80,000
Question 5
TK Co's budgetary control report for last month is as follows:
Fixed budget Flexed budget Actual results
$ $ $
Direct costs 39,000 40,500 43,200
Production overhead 61,400 63,300 61,950
Other overhead 8,000 8,000 6,500
108,400 111,800 111,650
What was the expenditure variance for last month?
Question 5Select one:

a.
$150 (A)
b.
$3,400 (F)
c.
$3,400 (A)
d.
$150 (F)
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Your answer is incorrect.

The correct answer is: $150 (F)
Question 6
BDL plc is currently preparing its cash budget for the year to 31 March 20X8. An extract from its sales
budget for the same year shows the following sales values.
$
March 35,000
April 40,000
May 38,000
June 42,000
30% of its sales are expected to be for cash. Of its credit sales, 80% are expected to pay in the month after
sale and take a 2% discount; 18% are expected to pay in the second month after the sale, and the
remaining 2% are expected to be bad debts.
What is the value of sales receipts to be shown in the cash budget for June 20X8?
Question 6Select one:

a.
$38,400
b.
$37,500
c.
$38,494.4
d.
$37,580
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Your answer is correct.

The correct answer is: $38,494.4
Question 7
Which of the following statements is/are functional budgets?
(i) The budgeted statement of profit or loss
(ii) Production budget
(iii) The budgeted cash flow
(iv) Sale budget
Question 7Select one:

a.
(ii)
b.
(ii), (iv)
c.
(iv)
d.
(i), (iii)
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Your answer is correct.

The correct answer is: (ii), (iv)
Question 8
Each unit of product A requires 2.5 kg of raw material. Next month's production budget for product A is
as follows.
Opening inventories:
Raw materials 3,500 kg
Finished units of A 6,000 units
Budgeted sales of A 35,000 units
Planned closing inventories:
Raw materials 4,000 kg
Finished units of A 5,000 units
How many kilograms of raw materials should be purchased next month?
Question 8Select one:

a.
85,000 kg
b.
89,500 kg
c.
90,000 kg
d.
85,500 kg
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Your answer is correct.

The correct answer is: 85,500 kg
Question 1
If Σx = 24, Σy = 80, Σx2 = 90, Σy2 = 680, Σxy = 320 and n = 5, what is the correlation coefficient?
Question 1Select one:

a.
0.76
b.
0.52
c.
-0.52
d.
0.05
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Your answer is correct.

The correct answer is: -0.52
Question 2
The trend for monthly sales ($Y) is related to the month (t) by the equation Y = 2,000 – 5t where t =
1 in the first month of 20X5. What are the forecast sales (to the nearest dollar) for the first month of
20X6 if the seasonal component for that month is 0.95 using a multiplicative model?
Question 2Select one:

a.
$1,838
b.
$18,923
c.
$1,662
d.
$1,545
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Your answer is correct.

The correct answer is: $1,838
Question 3
Over an 14-month period, sales have been found to have an underlying linear trend of y = 5.26 + 1.85x,
where y is the number of items sold and x represents the month. Monthly deviations from trend have been
calculated and month 15 is expected to be 1.34 times the trend value.
What is the forecast number of items to be sold in month 15?
Question 3Select one:

a.
45
b.
47
c.
44
d.
46
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Your answer is correct.

The correct answer is: 44
Question 4 MN Co manufactures a single product and an extract from their flexed budget for production
costs is as follows.
Activity level
50% 70%
$ $
Direct material 4,000 5,600
Labour 6,400 7,200
Production overhead 5,200 6,450
15,600 19,250
What would the total production cost allowance be in a budget flexed at the 60% level of activity? (to
the nearest $)
Question 4Select one:

a.
$17,425
b.
None of these
c.
$18,625
d.
$12,625
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Your answer is correct.

The correct answer is: $17,425
Question 5
ABC Co's budgetary control report for last month is as follows:
Fixed budget Flexed budget Actual results
$ $ $
Direct costs 39,000 40,500 43,200
Production overhead 61,400 63,300 61,950
Other overhead 8,000 8,000 6,500
108,400 111,800 111,650
What was the volume variance for last month?
Question 5Select one:

a.
$3,250 (A)
b.
$3,400 (A)
c.
$3,250 (F)
d.
$3,400 (F)
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Your answer is correct.

The correct answer is: $3,400 (A)
Question 7
A company plans to sell 25,000 units of product X next year. Opening inventory of X is expected to be
6,000 units and BUS Co plans to increase inventory by 10 per cent by the end of the year. How many
units of product X should be produced next year?
Question 7Select one:

a.
24,500 units
b.
25,000 units
c.
25,600 units
d.
20,350 units
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The correct answer is: 25,600 units

Question 8
Each unit of product A requires 3 kg of raw material. Next month's production budget for product A is as
follows.
Opening inventories:
Raw materials 4,000 kg
Finished units of A 7,000 units
Budgeted sales of A 45,000 units
Planned closing inventories:
Raw materials 6,000 kg
Finished units of A 5,000 units
How many kilograms of raw materials should be purchased next month?
Question 8Select one:

a.
139,000 kg
b.
129,000 kg
c.
141,000 kg
d.
131,000 kg
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The correct answer is: 131,000 kg

Bài kiểm tra số 2
Question 1
Diamond Ltd has a payback period limit of three years and is considering investing in one of the
following projects. Both projects require an initial investment of $1,000,000. Cash inflows accrue evenly
throughout the year.
Project Alpha Project Beta
Year Cash inflow Year Cash inflow
 $ $
1 250,000 1 300,000
2 300,000 2 200,000
3 400,000 3 250,000
4 335,000 4 500,000
5 200,000 5 150,000
6 100,000 6 50,000
The company's cost of capital is 10%.
What is the discounted payback period of Project Alpha?
Question 1Select one:

a.
Between 3 and 4 years
b.
Between 1 and 2 years
c.
Between 4 and 5 years
d.
Between 5 and 6 years
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Your answer is correct.

The correct answer is: Between 3 and 4 years
Question 2
Diamond Ltd has a payback period limit of three years and is considering investing in one of the
following projects. Both projects require an initial investment of $1,000,000. Cash inflows accrue evenly
throughout the year.
Project Alpha Project Beta
Year Cash inflow Year Cash inflow
$ $
1 250,000 1 300,000
2 300,000 2 200,000
3 400,000 3 250,000
4 335,000 4 500,000
 5 200,000 5 150,000
6 100,000 6 50,000
The company's cost of capital is 10%
What is the non-discounted payback period of Project Beta?
Question 2Select one:

a.
3 years and 4 months
b.
3 years and 6 months
c.
3 years and 5 months
d.
3 years and 2 months
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Your answer is correct.

The correct answer is: 3 years and 6 months
Question 3
What is the present value of eight annual payments of $850, the first paid immediately and discounted at
9%, giving your answer to the nearest $?
Question 3Select one:

a.
$5,128
b.
$4,056
c.
$4,705
d.
$3,695
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Your answer is correct.

The correct answer is: $5,128
Question 4
Which is worth most, at present values, assuming an annual rate of interest of 8%?
Question 4Select one:
a.
$2,000 in exactly four years from now
b.
$1,900 in exactly three years from now
c.
$1,700 in exactly two years from now
d.
$1,500 in exactly one year from now
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Your answer is correct.

The correct answer is: $1,900 in exactly three years from now
Question 5
An investment project has a positive net present value (NPV) of $9,625 when its cash flows are
discounted at the cost of capital of 8% per annum. Net cash inflows from the project are expected to be
$25,000 per annum for six years. The cumulative discount (annuity) factor for six years at 8% is 4.623.
What is the investment at the start of the project?
Question 5Select one:

a.
$102,708
b.
$125,200
c.
$105,950
d.
$115,575
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Your answer is correct.

The correct answer is: $105,950
Question 6
In which of the following situations would the use of imposed budgets NOT be appropriate?

Question 6Answer

a.
In times of crisis, when the organisation’s survival is at stake
b.
When acceptance of the budget as fair and equitable is essential

c.
During periods of economic hardship

d.
In a very small business

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Your answer is incorrect.

The correct answer is:
When acceptance of the budget as fair and equitable is essential
Question 7
Which of the following would be part of the revenue expenditure budget?
(i) Purchase of machinary
(ii) Paying employee salaries

(iii) Improvements to the earning capacity of non-current assets

(iv) Purchase of material

Question 7Answer

a.
(ii) and (iv) only

b.
(i), (ii) and (iii) only

c.
(i) and (ii) only

d.
(iii) and (iv) only
Feedback

Your answer is correct.

The correct answer is:

(ii) and (iv) only

Question 8
Which of the following would be part of the capital expenditure budget?
(i) Purchase of Motor vehicles
(ii) Purchase of Land and buildings
(iii) Improvements to the earning capacity of non-current assets
(iv) Purchase of inventories

Question 8Answer

a.
(iii) and (iv) only

b.
(i), (ii) and (iii) only

c.
(i) and (ii) only

d.
(ii) and (iv) only

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Your answer is incorrect.

The correct answer is:
(i), (ii) and (iii) only
Question 1
Project X has the following cash flows.

Year Cash flow

$
 0
(167,500)

1
35,500

2
54,500

3
50,000

4
22,500

5
20,000

What is project X's payback period?

Question 1Answer

a.
4.5 years

b.
4.25 years

c.
4 years

d.
4.75 years

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Your answer is correct.

The correct answer is:
4.25 years
Question 2
A building society adds interest monthly to investors' accounts even though interest rates are expressed in
annual terms. The current rate of interest is 9% per annum. An investor deposits $3,000 on 1 July. How
much interest will have been earned by 31 December?
Question 2Select one:

a.
$135.00
b.
$137.56
c.
$280.25
d.
$270.00
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Your answer is correct.

The correct answer is: $137.56
Question 3
A project has an initial outflow of $36,000 followed by six equal annual cash inflows, commencing in one
year’s time. The payback period is exactly three years. The cost of capital is 10% per year.
What is the project’s net present value (to the nearest $)?
Question 3Select one:

a.
–$5,900
b.
$16,260
c.
$16,800
d.
–$6,708
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Your answer is correct.

The correct answer is: $16,260
Question 4
If a single sum of $23,000 is invested at 10% per annum with interest compounded quarterly, what is the
amount to which the principal will have grown by the end of year four? (approximately)
Question 4Select one:

a.
$33,674
b.
$28,110
c.
$34,144
d.
$32,528
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Your answer is correct.

The correct answer is: $34,144
Question 5
An investment project has the following discounted cash flows ($'000):
Year Discount rate
0% 10% 20%
0 -100 -100 -100
1 35 29.5 27
2 35 26.8 26.8
3 35 25.5 20.4
4 35 24.6 18.5
40 6.40 (7.3)
The required rate of return on investment is 20% per annum.
What is the discounted payback period of the investment project?
Question 5Select one:

a.
More than 4.0 years
b.
3.0 years
c.
Between 3.0 years and 4.0 years
d.
Less than 3.0 years
Feedback

Your answer is correct.

The correct answer is: More than 4.0 years
Question 6
A budget which is set without permitting the ultimate budget holder to participate in the budgeting
process.
Which of the Budgeting style would be appropriate

Question 6Answer

a.
Imposed budgeting

b.
Participative budgeting

c.
Bottom up budgeting

d.
Negotiated budgeting

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Your answer is correct.

The correct answer is:
Imposed budgeting
Question 7
Which one of the following correctly identifies the budgeting style used when the budget is set 'from the
bottom up'?

Question 7Answer

a.
Participative
b.
Top down

c.
Realistic

d.
Imposed

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Your answer is correct.

The correct answer is:

Participative
Question 8
In which of the following situations would the use of imposed budgets be appropriate?

Question 8Answer

a.
When acceptance of the budget as fair and equitable is essential

b.
In a very large business

c.
In centralised organisations

d.
In times of crisis, when the organisation’s survival is at stake

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Your answer is correct.

The correct answer is:
In times of crisis, when the organisation’s survival is at stake
Bài kiểm tra số 3
Question 1
A company is in the process of setting standard unit costs for next period. Product Y uses two types of
material, A and B. 4 kg of material A and 5 kg of material B are needed, at a standard price of $6 per kg
and $8 per kg respectively.
Direct labour will cost $10 per hour and each unit of Y requires 3 hours of labour.
Production overheads are to be recovered at the rate of $2 per direct labour hour, and general overhead is
to be absorbed at a rate of ten per cent of production cost.
What is the standard prime cost for one unit of product Y?
Question 1Select one:

a.
$100
b.
$90
c.
$94
d.
$64
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Your answer is correct.

The correct answer is: $94
Question 2
Product B has a standard direct material cost as follows.
3 kilograms of material X at $8 per kilogram = $24 per unit of B.
During June, 500 units of A were manufactured, 2,000 kg of material were purchased for $19,000, of
which 1,450 kg were issued to production.
What are the material price variances for June?

Question 2Answer

a.
$3,000 (F)
b.
$3,000 (A)
c.
$2,175 (F)

d.
$2,175 (A)

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Your answer is correct.

The correct answer is:
$3,000 (A)
Question 3
Number of units produced 3,000 3,200
Budget $ Actual $
Direct materials 106,500 115,200
Direct labour 252,000 268,800
Variable overhead 126,000 128,000
The actual number of units produced was 3,200
What was the total direct variable overheads variance?
Question 3Select one:

a.
$6,400 Adverse
b.
Nil
c.
$6,400 Favourable
d.
$2,000 Adverse
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Your answer is correct.

The correct answer is: $6,400 Favourable
Question 4
The following data relates to one of a company's products
$ per unit $ per unit
 Selling price 30

Variable costs 16

Fixed costs 7

23

Profit 7
Budgeted sales for control period 2 were 3,000 units, but actual sales were 2,900 units. The revenue
earned from these sales was $88,450.
Profit reconciliation statements are drawn up using marginal costing principles. What sales price
variances would be included in such a statement for period 2?
Question 4Select one:

a.
$1,500 Adverse
b.
$1,500 Favourable
c.
$1,450 Adverse
d.
$1,450 Favourable
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Your answer is correct.

The correct answer is: $1,450 Favourable
Question 5
Jupiter Co has the following budget and actual figures for 20X9.
Budget Actual
Revenue $ 12,000 12,600
Selling price per unit 15 14
Standard full cost of production = $8 per unit.
What is the sales price variance?
Question 5Select one:
a.
$900 Favourable
b.
$12,000 Favourable
c.
$900 Adverse
d.
$12,000 Adverse
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Your answer is correct.

The correct answer is: $900 Adverse