FinancialInformation forManagementPART1FRIDAY 5 DECEMBER 2003QUESTION PAPERTime allowed 3 hoursThis paper is divided into two sectionsSection AALL 25 questions are compulsory and MUST beansweredSection BALLFIVE questions are compulsory and MUST beansweredFormulae Sheet, Present Value and Annuity Tables are on pages 13, 14 and 152.1 repPaSection A – ALL 25 questions are compulsory and MUST be attempted
Please use the Candidate Registration Sheet provided to indicate your chosen answer to each multiple choicequestion.
Each question within this section is worth 2 marks.1
A cost is described as staying the same over a certain activity range and then increasing but remaining stable over arevised activity range in the short term.What type of cost is this?ABCD
A fixed costA variable cost
A semi-variable costA stepped fixed cost
2The following quarterly adjustments have been calculated using the multiplicative model for time series analysis:
Quarter 10·95
Quarter 21·25
Quarter 30·70
What would be the adjustment for quarter 4 to two decimal places?ABCD
0·830·911·101·20
3
A company which uses marginal costing has a profit of ￡37,500 for a period. Opening stock was 100 units andclosing stock was 350 units.
The fixed production overhead absorption rate is ￡4 per unit.What is the profit under absorption costing?ABCD
￡35,700￡36,500￡38,500￡39,300
4The following could relate to contract costing:(i)
Work is for a period of long duration.
(ii)Progress payments are amounts paid for the contract throughout the course of the contract.(iii)Architects’ certificates are provided to establish the amount of work certified.Which of the above are correct?ABCD
(i) and (ii) only(i) and (iii) only(ii) and (iii) only(i), (ii) and (iii)
2
5A company values stocks using the weighted average value after each purchase. The following receipts and issueshave been made with regards to materials for the last month:DateBrought forward4th16th20th21stWhat is the value of the closing stock using this weighted average method?ABCD￡1,012·50￡976·50￡962·50￡925·00100￡6￡60075ReceiptsUnits100150￡/unit￡5￡5·50Valuation￡500￡825100IssuesUnits6Sydney wishes to make an investment on a monthly basis starting next month for five years. The payments into thefund would be made on the first day of each month.The interest rate will be 0·5% per month. Sydney needs a terminal value of ￡7,000.What should be the monthly payments into the fund to the nearest ￡?ABCD￡75￡86￡100￡1177A company has the following budget for the next month:Finished ProductSalesProduction unitsMaterialsUsage per unitOpening stockClosing stock7,000 units7,200 units3 kg 400 kg500 kgWhat is the material purchases budget for the month?ABCD20,900 kg21,100 kg21,500 kg21,700 kg3[P.T.O.
(参考资料)2003年12月ACCA F2考试真题(上海交大ACCA)
