THE INSTITUTE OF CHARTERED ACCOUNTANTS (GHANA) SOLUTION: COST AND MANAGEMENT ACCOUNTING, NOVEMBER, 2014
|
|
- Lilian Skinner
- 5 years ago
- Views:
Transcription
1 SOLUTION 1 (a) definition of capital employed - Definition of income (returning) - Where investments are made at different times and getting unrelated representative being difficult (b) Conditions - Top management support - Training - Sound organization structure - Proper standard costing system - Active participation of employees - Budget manual availability - Functional budget committee availability - Setting of budget objectives - Strategic plan (c) Problems of BEA - Basic assumptions limitation - Where variables change we need more advanced modules, sensitivity, simulation etc - In multiple products the weighted contribution of the paths may not relate to the use of FC. (d) (a) (i) Cost Control This is usually carried out by the formal comparison of actual results with those planned. Example: budget, standard cost etc and investigating the variances for corrective measures. (ii) Cost Reduction An attempt to reduce cost below the previously accepted norm a standard without reducing, the quality or effectiveness. It is not carried out frequently example could be carried out during the financial crisis of a firm. Page 1 of 11
2 (b) Conditions for effective budgetary - Top management support - Training - Sound organizational structure - Proper standard costing system - Active participation of the managers - Investigation and reporting of all budget variances - Functional budget committees - Budget manual - Budget objective - Strategic planning SOLUTION 2 (a) Quantity sold 2,000 3,000 4,000 5,000 6,000 7,000 SP , , , , , ,000 VC 56,000 84, , , , ,000 Contribution 344, , ,000 26, , ,000 FC 110, , , , , ,000 Profit 234, , , , , ,000 Page 2 of 11
3 (b) Objectives of transfer pricing - For effective divisional performance measurement: Divisions with products / services not having external market values can be effectively evaluated by placing values on their products/services. - Ensure efficiency in the use of resources: Divisions under the transfer pricing system cannot press in their inefficiency into other divisions by pricing the products/services for what can be obtained in the market. - It offers the opportunity to divisional needs to justify their costs when it comes to negotiation in prices - Motivation - To ensure divisional autonomy - Movement of profits (c) Methods of transfer pricing - Market price this is where the product can be sold in the external market. The supplying division may sell to consider if the price offered by the receiving division is low. - Variable cost this is where there is external market but the supplying division does idle capacity on where this product does no external market and must be known by the receiving division. - Adjusted market price this is where there is external market but the supplying/ receiving divisions may gain by selling/buying from a client within the group. Page 3 of 11
4 SOLUTION 3 Standard contribution Actual contribution Selling price 20 Actual selling price Marginal cost 12 Standard marginal cost (i) (ii) (iii) Total variable overhead variance: Actual variable overhead cost 15,000 Standard overhead cost absorbed on Actual production achieved (5,000 x 2 x 2) 20,000 5,000F Variable overhead expenditure: Variance: Actual overhead expenditure 15,000 Actual variable overhead absorption rate (8,200 x 2) 16,400 1,400F Variable overhead efficiency variance Standard overhead cost of production achieved (5,000 x 2 x 2) 20,000 Actual hours V. D. A. R. (8,200 x 2) 16,400 3,600F (2) Material Cost Variance Actual material cost 22,500 Standard cost of material for Production Achieved (5,000 x 4) 20,000 2,500A VDExp 1,400 F MP 2,500 A LRV 3,600 A SPV 10,000 F VDEff 3,600 F MU - LEV 3,600 F SVV 4,000 F TVO 5,000 F TMC 2,500 A TLC - TSV 14,000 F Page 4 of 11
5 Material Price Variance Actual material cost 22,500 Standard cost of actual material (5,000 x 10 x 0.4) 20,000 2,500A Material Usage Variance Actual material standard price 5,000 x 10 x ,000 Standard material standard price 5,000 x 10 x ,000 Nil (3) Total Labour Cost Variance Actual labour cost 20,000 Standard cost of labour for Production achieved 5,000 x 4 x 2 x 2 20,000 Nil Labour Rate Variance (SR AR) AH (2 20,000) 8,200 8,200 = 16,400 20,000 = 3,600A Labour Efficiency Variance (SH AH) SR (10,000 8,200) 2 (1,800) 2 = 3,600F Labour Rate Variance = 3,600A Labour Efficiency Variance = 3,600F Total labour cost Variance Nil SR Standard Rate AR Actual Rate SH- Standard Hour AH- Actual Hour Page 5 of 11
6 (4) (i) Total Sales Variance Actual quantity Actual contribution 5,000 x 10 = 50,000 Budgeted quantity standard contribution 4,500 x 8 = 36,000 14,000F (ii) Sales Price Variance Actual quantity Actual selling price 5,000 x 22 = 110,000 Actual quantity budgeted selling price 5,000 x 20 = 100,000 10,000F (iii) Sales Volume Variance Actual sales standard contribution 5,000 x 8 = 40,000 Budgeted sales standard contribution 4,500 x 8 = 36,000 4,000F Sales Price Variance 10,000F Sales Volume Variance 4,000F Total Sales Variance 14,000F Page 6 of 11
7 SOLUTION 4 (a) Original position Total contribution = 99,000 = 0.45 Total sales 220,000 ATM Ltd b/e = total fixed cost = 4,500 = 100,000 CS ratio 0.45 Margin of safety = estimated sales breakeven sales Estimated sales = 220, ,000 x 100 = 54.5% 220,000 (ii) Chief Executive s Suggestion If material cost reduces to 40,000 from the present level of 51,000 total contribution will increase by a corresponding amount that is from 99,000 to 110,000 given a revised CS ratio 110,000 = ,000 The revised b/e point allowing for the 12,000 increase in total fixed cost 45, ,000 = 114, Margin of safety = (220, ,000) x ,000 = 48.2% (iii) Marketing Director s Suggestion If sales volume increases and there is no increase in variable cost as proportion of sales, the CS ratio under this option will be the same as for the original data that is However, total fixed cost will increase resulting in a revised breakdown point of: B/E 4, ,500 = 150, Page 7 of 11
8 Margin of safety Sales volume from 220,000 to (220,000 x 1.2) = 264, , ,000 x 100 = 43.2% 264,000 (b) A summary of the indicators calculated to: Original Chief Director s Marketing Director s Estimates Suggestion Suggestion B/E 100, , ,000 Margin safety 54.5% 24% 43.2% (c) Factors to consider - The possibility of reducing cost other than materials. For example can fixed be reduced. - Reduction in selling price to increase demand - The accuracy of the estimates which have been used - What developments are likely to occur in ATM Ltd s market in the period under review example competition Original CEO MOO C/S Ratio BE Pt 100, , ,000 MOS 54.5% 24% 43.2% 4,500 57,000 27, Page 8 of 11
9 SOLUTION 5 Kwegyirba Ltd: Cash Budget for six months ending 30 th June, 2014 JAN FEB MAR APR MAY JUNE Bal b/f 16,000 50,000 20,000 20,000 20,000 20,000 Receipts Debtors 40,000-60,000 72,000 96,000 96,000 Total 56,000 50,000 80,000 92, , ,000 Overdraft 25,000 25,000 - (25,000) (24,000) 75, ,000 (1,000) 116,000 92,000 Payments Motor car , Creditors - 48,000 48,000 64,000 64,000 64,000 Salaries/wages 4,000 4,000 4,000 4,000 4,000 4,000 Rent - 1,000 1,000 1,000 1,000 1,000 Gen. expenses 2,000 2,000 2,000 2,000 2,000 2,000 Total 6,000 55,000 85,000 71,000 71,000 71,000 Budgeted income statement for the six months ending 30/6/14 Sales 516, ,000 = 1,092,000 Purchases 352, ,000 = 736, ,000 Less: expenses Salaries & wages 24, ,000 Rent 6, ,000 General expenses 12, ,000 Depreciation (2,500 or 3,000) Net profit 42,750 = 86,500 or 87, ,250 = 296,500 or 270,000 Page 9 of 11
10 JULY AUG SEPT OCT NOV DEC JAN 2015 Bal 21,000 46,000 71,000 96, , , ,000 at start Receipt 96,000 96,000 96,000 96,000 96,000 96, , , , , , ,000 - Payments Debtor 64,000 64,000 64,000 64,000 64,000 64,000 Sal/Wages 4,000 4,000 4,000 4,000 4,000 4,000 Rent 1,000 1,000 1,000 1,000 1,000 1,000 Gen. Exp. 2,000 2,000 2,000 2,000 2,000 2,000 71,000 71,000 71,000 71,000 71,000 71,000 Page 10 of 11
11 Workings JAN FEB MAR APR MAY JUN TOTAL Sales 60,000 72,000 96,000 96,000 96,000 96, , ,000=1,092,000 Debtor ,000 72,000 96,000 96, ,000 Purchases 48,000 48,000 64,000 64,000 64,000 64, , ,000=736,000 Creditors - 48,000 48,000 64,000 64,000 64,000 MU (30,000 3,000 or 2,500) 27,000 or 27,500 Debtors 192,000 Cash 171, ,000 Creditors 64,000 Rent due 1,000 Profit related 270,000 or 269,500 Page 11 of 11
Common stock prices 1. New York Stock Exchange indexes (Dec. 31,1965=50)2. Transportation. Utility 3. Finance
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 000 97 98 99 I90 9 9 9 9 9 9 97 98 99 970 97 97 ""..".'..'.."... 97 97 97 97 977 978 979 980 98 98 98 98 98 98 987 988
More informationLCCI International Qualifications. Cost Accounting Level 3. Model Answers Series (3017)
LCCI International Qualifications Cost Accounting Level 3 Model Answers Series 3 2009 (3017) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Cost
More informationCPA Australia Plan Your Own Enterprise Competition
Financial Plan Your financial plan should include: 1. A list of Start-Up Costs and how these will be paid for (eg from savings, bank loan or family loan) 2. A Breakeven Analysis, which includes: a list
More informationACC406 Tip Sheet. 1) Planning: It is the process of creating a set of plans that a company intends to achieve a particular goal.
ACC406 Tip Sheet Chapter 1 Managerial Accounting: It is simply the process of reporting accounting information for a company s internal users such as managers, sales staff and etc. for decision making.
More informationb Multiple Choice Questions: 1 The scarce factor of production is known as: d a) Key factor b) Limiting factor c) Critical factor d) All of the above
Q.1 a State whether True or False: [Any 8] 1 Functional Budget is a Budget which is established for use over a short period of time. FALSE 2 Total Fixed cost remains constant irrespective of change in
More informationBuad 195 Chapter 4 Example Solutions, Pre-Midterm Page 1 of 9
Buad 195 Chapter 4 Example Solutions, Pre-Midterm Page 1 of 9 Example 1 4-5 page 116 Ross Pro s Sports Equipment + Projected sales... 4,800 units + Desired ending inventory... 480 (10% 4,800) Beginning
More informationFOR RELEASE: MONDAY, MARCH 21 AT 4 PM
Interviews with 1,012 adult Americans conducted by telephone by Opinion Research Corporation on March 18-20, 2011. The margin of sampling error for results based on the total sample is plus or minus 3
More informationFree of Cost ISBN : Scanner Appendix. CS Executive Programme Module - I December Paper - 2 : Cost and Management Accounting
Free of Cost ISBN : 978-93-5034-831-4 Solved Scanner Appendix CS Executive Programme Module - I December - 2013 Paper - 2 : Cost and Management Accounting Chapter - 1: Introduction to Cost and Management
More informationSpheria Australian Smaller Companies Fund
29-Jun-18 $ 2.7686 $ 2.7603 $ 2.7520 28-Jun-18 $ 2.7764 $ 2.7681 $ 2.7598 27-Jun-18 $ 2.7804 $ 2.7721 $ 2.7638 26-Jun-18 $ 2.7857 $ 2.7774 $ 2.7690 25-Jun-18 $ 2.7931 $ 2.7848 $ 2.7764 22-Jun-18 $ 2.7771
More informationSOLUTION COST AND MANAGEMENT NOV 2010
SOLUTION COST AND MANAGEMENT NOV 2010 (a) (A) The Cost Accountant provides financial information for stock valuation purposes and also presents relevant information to management for decision-making and
More informationStandard Cost System Practice Problems
When setting up a standard cost system, the concepts of standards in material, labor, and overhead must be explored in a simple manner to start the process. Practice Standard Cost Variances: Simple Example
More informationManagement Accounting. Pilot Paper 3 Questions and Suggested Solutions
Management Accounting Pilot Paper 3 Questions and Suggested Solutions NOTES TO USERS ABOUT PILOT PAPERS Pilot papers are published by Accounting Technicians Ireland. They are intended to provide guidance
More informationMGT402 Subjective Material
MGT402 Subjective Material Question No: 49 ( Marks: 3 ) A company is considering publishing a limited edition book bound in special leather. It has in stock the leather bought some years ago for Rs. 1,000.
More informationPAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING Answer all questions.
Question 1 (i) (ii) PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING Answer all questions. What is Cost accounting? Enumerate its important objectives. Distinguish between Fixed
More informationUNIT 5 Module 8. Budgets & Budgetary Control Assignment
UNIT 5 Module 8 Budgets & Budgetary Control Assignment Exercise Cash Budget Q.1. Explain the meaning, purpose and utility of Cash Budget? Q. 2. Explain the methods of preparing Cash Budget? Q.3. Give advantages
More informationVARIANCE ANALYSIS: ILLUSTRATION
VARIANCE ANALYSIS: ILLUSTRATION The following information relates to the production of product Alpha for the month of August Standard Cost Card Budgeted production overhead based on 10,000 units $ $ Selling
More informationInvestit Software Inc. INVESTOR PRO CANADA 20 UNIT CONDOMINIUM DEVELOPMENT EXAMPLE
INVESTOR PRO CANADA 20 UNIT CONDOMINIUM DEVELOPMENT EXAMPLE INTRODUCTION This example uses the Development Condominium template. This practice example consists of two Sections; 1. The input information
More informationACC406 Tip Sheet. Direct Labour (DL): labour that is directly attributable to the goods and service that are being produced by a firm.
ACC406 Tip Sheet Definitions Direct Cost: a cost that can be easily allocated to a certain object. Variable Cost (VC): a cost that changes in direct relation to output (output increases VC increases) Fixed
More informationLCCI International Qualifications. Cost Accounting Level 3. Model Answers Series (3017)
LCCI International Qualifications Cost Accounting Level 3 Model Answers Series 2 2012 (3017) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Cost
More informationBusiness & Financial Services December 2017
Business & Financial Services December 217 Completed Procurement Transactions by Month 2 4 175 15 125 1 75 5 2 1 Business Days to Complete 25 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 217 Procurement
More informationLCCI International Qualifications. Cost Accounting Level 3. Model Answers Series (3017)
LCCI International Qualifications Cost Accounting Level 3 Model Answers Series 3 2010 (3017) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Cost
More information18-Jan-19 Receipt & Payment Method Numerical
Name: Dr. Alok Goyal Class and Section: B.Com. III (A & B) Subject: _Management Accounting Week Date Topic Introduction to Accounting -Jan-9 Classification of Accounting- Financial Accounting Classification
More informationQUESTION 2. QUESTION 3 Which one of the following is most indicative of a flexible short-term financial policy?
QUESTION 1 Compute the cash cycle based on the following information: Average Collection Period = 47 Accounts Payable Period = 40 Average Age of Inventory = 55 QUESTION 2 Jan 41,700 July 39,182 Feb 18,921
More informationWESTWOOD LUTHERAN CHURCH Summary Financial Statement YEAR TO DATE - February 28, Over(Under) Budget WECC Fund Actual Budget
WESTWOOD LUTHERAN CHURCH Summary Financial Statement YEAR TO DATE - February 28, 2018 General Fund Actual A B C D E F WECC Fund Actual Revenue Revenue - Faith Giving 1 $ 213 $ 234 $ (22) - Tuition $ 226
More informationPerformance Highlights. Prepared for. MEGALO Hospitality. CLIENT Restaurant Client. Period. Jun Created on 10th June 2017
Performance Highlights Prepared for CLIENT Restaurant Client Period Jun 2017 Created on 10th June 2017 Executive Summary OBSERVATIONS Comparing Jun 2017 with the same month last year Jun 2016. REVENUE
More informationSUGGESTED SOLUTIONS Fundamentals of Management Accounting and Business Finance Certificate in Accounting and Business II Examination March 2013
SUGGESTED SOLUTIONS 05204 Fundamentals of Management Accounting and Business Finance Certificate in Accounting and Business II Examination March 2013 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA
More information1: Product Profitability Analysis - Exercise
1: Product Profitability Analysis - Exercise PRODUCT TOTAL Filter Bolt Drum PRICE ( ) 12 6 15 COST ( ) 8 3 12 ANNUAL SALES ( ) 1,440k 1,800k 2,500k 5,740k AVERAGE STOCK ( ) 210k 850k 240k 1,300k 1 Typical
More information10,000 units x 24 = 240,000, or 5,000 hours x 48 = 240,000. the actual price of materials per kilogram
NVQ/SVQ Level 4 in Accounting Contributing to the Management of Performance and Enhancement of Value (PEV) (2003 standards) June 2006 SUGGESTED ANSWERS Note: The suggested answers may, in parts, be longer
More informationManagement Accounting Level 3
LCCI International Qualifications Management Accounting Level 3 Model Answers Series 4 2008 (3023) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk
More informationXML Publisher Balance Sheet Vision Operations (USA) Feb-02
Page:1 Apr-01 May-01 Jun-01 Jul-01 ASSETS Current Assets Cash and Short Term Investments 15,862,304 51,998,607 9,198,226 Accounts Receivable - Net of Allowance 2,560,786
More informationPAPER 10- COST & MANAGEMENT ACCOUNTANCY
PAPER 10- COST & MANAGEMENT ACCOUNTANCY Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 10 - Cost & Management Accountancy Full
More informationPRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. January 2019
7 March 2019 PRESS RELEASE Securities issued by Hungarian residents and breakdown by holding sectors January 2019 According to securities statistics, the amount outstanding of equity securities and debt
More informationSolution to Problem 31 Adjusting entries. Solution to Problem 32 Closing entries.
Solution to Problem 31 Adjusting entries. 1. Utilities expense 27,000 Accounts payable 27,000 2. Rent revenue 4,000 Unearned revenue 4,000 3. Supplies 2,000 Supplies expense 2,000 4. Interest receivable
More informationFiscal Year 2018 Project 1 Annual Budget
Fiscal Year 2018 Project 1 Annual Budget Table of Contents Table Page Summary 3 Summary of Costs Table 1 4 Treasury Related Expenses Table 2 5 Summary of Full Time Equivalent Table 3 6 Positions Cost-to-Cash
More informationExam 1 Problem Solving Questions Review
Exam 1 Problem Solving Questions Review SECTION 1 The following data were obtained from a recent quarterly report for Dell Computer (in millions): Net revenue $8,028 Cost of revenue $6,580 Inventories:
More informationTrainee Accountant Webinar. F2 Management Accounting. Variance Analysis
Trainee Accountant Webinar F2 Management Accounting Variance Analysis Presented By: Rosemarie Kelly, Examiner CPA Ireland Skillnet CPA Ireland Skillnet, is a training network that is funded by Skillnets,
More informationMANAGEMENT ACCOUNTING
MANAGEMENT ACCOUNTING Introduction Management Accounting is the branch of Accounting which is concerned with procuring and providing the necessary information for the managerial decision making. Management
More informationCost Estimation of a Manufacturing Company
Cost Estimation of a Manufacturing Company Name: Business: Date: Economics of One Unit: Manufacturing Company (Only complete if you are making a product, such as a bracelet or beauty product) Economics
More informationConstructing a Cash Flow Forecast
Constructing a Cash Flow Forecast Method and Worked Example A cash flow forecast shows the estimates of the timing and amounts of cash inflows and outflows over a period of time. The sections of a cash
More informationManagement Accounting. Sample Paper 1 Questions and Suggested Solutions
Management Accounting Sample Paper 1 Questions and Suggested Solutions NOTES TO USERS ABOUT SAMPLE PAPERS Sample papers are published by Accounting Technicians Ireland. They are intended to provide guidance
More informationFundamentals of Accounting Resources
Contents Figure 1 - The Profit and Loss statement example... 2 Figure 2 - Balance sheet example... 3 Figure 3 - Example of a Balance Sheet... 4 Figure 4 - Example of a Profit & Loss Sheet... 5 Figure 5-10
More information1.2 The purpose of the Finance Committee is to assist the Board in fulfilling its oversight responsibilities related to:
Category: BOARD PROCESS Title: Terms of Reference for the Finance Committee Reference Number: AB-331 Last Approved: February 22, 2018 Last Reviewed: February 22, 2018 1. PURPOSE 1.1 Primary responsibility
More informationPlease scroll to find the 2018 and 2019 global fund holiday calendars.
Please scroll to find the 2018 and 2019 global fund holiday calendars. 2018 Exchange-Traded fund holiday Vanguard Ireland-domiciled ETFs Jan Feb Mar Apr May Jun 1 2 5 12 15 25 9 12 14 15 16 19 28 20 29
More informationAsset Manager Performance Comparison
Cape Peninsula University of Technology Retirement Fund August 2017 DISCLAIMER AND WARNINGS: Towers Watson (Pty) Ltd, a Willis Towers Watson company, is an authorised financial services provider. Although
More informationAsset Manager Performance Comparison
Cape Peninsula University of Technology Retirement Fund September 2017 DISCLAIMER AND WARNINGS: Towers Watson (Pty) Ltd, a Willis Towers Watson company, is an authorised financial services provider. Although
More informationLooking at a Variety of Municipal Valuation Metrics
Looking at a Variety of Municipal Valuation Metrics Muni vs. Treasuries, Corporates YEAR MUNI - TREASURY RATIO YEAR MUNI - CORPORATE RATIO 200% 80% 175% 150% 75% 70% 65% 125% Average Ratio 0% 75% 50% 60%
More information9706 ACCOUNTING. Mark schemes should be read in conjunction with the question paper and the Principal Examiner Report for Teachers.
CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Level MARK SCHEME for the May/June 2013 series 9706 ACCOUNTING 9706/43 Paper 4 (Problem Solving Supplement), maximum raw mark 120 This mark scheme is published
More informationGurukripa s Guideline Answers to Nov 2016 Exam Questions CA Inter (IPC) Cost Accounting & Financial Management Working Notes should form part of the answers. Question No.1 is compulsory (4 5 20 Marks).
More informationPRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2018
PRESS RELEASE 10 December 2018 Securities issued by Hungarian residents and breakdown by holding sectors October 2018 According to securities statistics, the amount outstanding of equity securities and
More information(Internet version) Financial & Statistical Report November 2018
(Internet version) Financial & Statistical Report November 2018 12/17/2018 Statement of Operations For the Period Ended November 30, 2018 (in millions) Current Month Year-to-Date Operating Revenue $ 31.4
More informationOTHER DEPOSITS FINANCIAL INSTITUTIONS DEPOSIT BARKAT SAVING ACCOUNT
WEIGHTAGES JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC ANNOUNCEMENT DATE 19.Dez.14 27.Jän.15 24.Feb.15 26.Mär.15 27.Apr.15 26.Mai.15 25.Jun.15 28.Jul.15 26.Aug.15 23.Sep.15 27.Okt.15 25.Nov.15 MUDARIB
More informationExecutive Summary. July 17, 2015
Executive Summary July 17, 2015 The Revenue Estimating Conference adopted interest rates for use in the state budgeting process. The adopted interest rates take into consideration current benchmark rates
More informationGCE Accounting. Mark Scheme for June Unit F014: Management Accounting. Advanced GCE. Oxford Cambridge and RSA Examinations
GCE Accounting Unit F014: Management Accounting Advanced GCE Mark Scheme for June 2014 Oxford Cambridge and RSA Examinations OCR (Oxford Cambridge and RSA) is a leading UK awarding body, providing a wide
More informationTest Yourself / Final Exam
Test Yourself / Final Exam 1. Explain the risk/reward parameters of an option seller? 2. Describe the risk/reward characteristics of an option buyer? 3. What is an option? 4. What is the definition of
More informationPHOENIX ENERGY MARKETING CONSULTANTS INC. HISTORICAL NATURAL GAS & CRUDE OIL PRICES UPDATED TO July, 2018
Jan-01 $12.9112 $10.4754 $9.7870 $1.5032 $29.2595 $275.39 $43.78 $159.32 $25.33 Feb-01 $10.4670 $7.8378 $6.9397 $1.5218 $29.6447 $279.78 $44.48 $165.68 $26.34 Mar-01 $7.6303 $7.3271 $5.0903 $1.5585 $27.2714
More informationStandard Costing and Budgetary Control
Standard Costing and Budgetary Control CA Past Years Exam Questions Question : 1 (Nov, 2008) UV Limited presents the following information for November. Calculate the cost Variances. Budgeted production
More information4. Management time can be saved and attention directed to areas of most concern.
SOLUTION 1 (i) COST CONTROL This is usually carried out by the formal comparison of actual results with those planned eg budget, standard cost etc and investigating the variances for corrective measures.
More informationHUD NSP-1 Reporting Apr 2010 Grantee Report - New Mexico State Program
HUD NSP-1 Reporting Apr 2010 Grantee Report - State Program State Program NSP-1 Grant Amount is $19,600,000 $9,355,381 (47.7%) has been committed $4,010,874 (20.5%) has been expended Grant Number HUD Region
More informationReview of Registered Charites Compliance Rates with Annual Reporting Requirements 2016
Review of Registered Charites Compliance Rates with Annual Reporting Requirements 2016 October 2017 The Charities Regulator, in accordance with the provisions of section 14 of the Charities Act 2009, carried
More informationHOMEWORK. 1,40,000 20,000 (4,20,000 4,00,000) = 84,000 (F) WN 2: Calculation of effect on profit due to increase in market share
A.1. A.2. HOMEWORK WN 1: Calculation of effect on the profit due to market size Increasein profitduetogrowth = Growth in unitsdueto size increase Growth in units(total) 1,40,000 = 12,000(4,00,0003%) 20,000
More informationCh. 13 Practice Questions Solution
Buad 121 Ch. 13 Practice Questions Solution Exercise 13-9 (20 minutes) a. Mar. 10 Machinery... 60,000 Cash... 60,000 Purchased machinery for cash. b. Mar. 10 Machinery... Accounts Payable... 60,000 60,000
More informationSAPAN PARIKHCOMMERCE CLASSES
A.1 A Match the following (Any 08) [Rewrite the sentence] GROUP A GROUP B 1) Labour efficiency Variance A) Pre-determined cost 2) Imputed Cost B) Limiting Factor 3) Profit C) No Profit, No Loss stage 4)
More informationPRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2017
11 December 2017 PRESS RELEASE Securities issued by Hungarian residents and breakdown by holding sectors October 2017 According to securities statistics, the amount outstanding of equity securities and
More information(Internet version) Financial & Statistical Report December 2017
(Internet version) Financial & Statistical Report December 2017 01/22/2018 Statement of Operations For the Period Ended December 31, 2017 (in millions) Current Month Year-to-Date Operating Revenue & Patronage
More information(Internet version) Financial & Statistical Report December 2016
(Internet version) Financial & Statistical Report December 2016 1/23/2017 Statement of Operations For the Period Ended December 31, 2016 (in millions) Current Month Year-to-Date Operating Revenue & Patronage
More information(Internet version) Financial & Statistical Report September 2017
(Internet version) Financial & Statistical Report September 2017 10/23/2017 Statement of Operations For the Period Ended September 30, 2017 (in millions) Current Month Year-to-Date Operating Revenue &
More informationPerformance Report October 2018
Structured Investments Indicative Report October 2018 This report illustrates the indicative performance of all Structured Investment Strategies from inception to 31 October 2018 Matured Investment Strategies
More informationFinancial Markets 11-1
Financial Markets Laurent Calvet calvet@hec.fr John Lewis john.lewis04@imperial.ac.uk Topic 11: Measuring Financial Risk HEC MBA Financial Markets 11-1 Risk There are many types of risk in financial transactions
More informationQuarterly Statistical Digest
Quarterly Statistical Digest August Volume 27, No. 3 The Statistical Digest is a quarterly publication of the Central Bank of The Bahamas, prepared by the Research Department for issue in February, May,
More informationExaminations for Academic Year Semester I / Academic Year 2015 Semester II. 1. This question paper consists of Section A and Section B.
PROGRAMME COHORT BSc (Hons) Human Resource Management BSc (Hons) Management BHRM/14B/FT BMAN/15A/FT B1, B2 Examinations for Academic Year 2015 2016 Semester I / Academic Year 2015 Semester II MODULE: COST
More informationFinancial and Management Accounting Concepts
Financial and Management Accounting Concepts Editorial This month's newsletter focuses on the way in which you can interpret fully the information you present in the form of financial statements to either
More informationSERIES 4 EXAMINATION 2005 COST ACCOUNTING LEVEL 3. (Code No: 3016) FRIDAY 11 NOVEMBER
SERIES 4 EXAMINATION 2005 COST ACCOUNTING LEVEL 3 (Code No: 3016) FRIDAY 11 NOVEMBER Instructions to Candidates (a) (b) (c) (d) (e) (f) (g) (h) The time allowed for this examination is 3 hours. Answer
More informationRegional overview Gisborne
Regional overview Purchasing intentions - additional income-related rent subsidy (IRRS) places Area District 1 2 3 4+ TOTAL 3 35 5 7 total 3 35 5 7 7 8 9 1 11 Purchasing intentions - change within the
More informationSmallBizU WORKSHEET 1: REQUIRED START-UP FUNDS. Online elearning Classroom. Item Required Amount ($) Fixed Assets. 1 -Buildings $ 2 -Land $
WORKSHEET 1: REQUIRED START-UP FUNDS Item Required Amount () Fixed Assets 1 -Buildings 2 -Land 3 -Initial Inventory 4 -Equipment 5 -Furniture and Fixtures 6 -Vehicles 7 Total Fixed Assets Working Capital
More informationJanuary 2018 Data Release
January 2018 Data Release The Home Purchase Sentiment Index (HPSI) is a composite index designed to track consumers housing-related attitudes, intentions, and perceptions, using six questions from the
More informationFoundations of Investing
www.edwardjones.com Member SIPC Foundations of Investing 1 5 HOW CAN I STAY ON TRACK? 4 HOW DO I GET THERE? 1 WHERE AM I TODAY? MY FINANCIAL NEEDS 3 CAN I GET THERE? 2 WHERE WOULD I LIKE TO BE? 2 Develop
More informationFinancial & Business Highlights For the Year Ended June 30, 2017
Financial & Business Highlights For the Year Ended June, 17 17 16 15 14 13 12 Profit and Loss Account Operating Revenue 858 590 648 415 172 174 Investment gains net 5 162 909 825 322 516 Other 262 146
More informationCosting Group 1 Important Questions for IPCC November 2017 (Chapters 10 12)
Costing Group 1 Important Questions for IPCC November 2017 (Chapters 10 12) CHAPTER 10 STANDARD COSTING 1. The standard material cost for a normal mix of one tonne of product Captain based on: Raw Material
More informationWest Hertfordshire Hospitals NHS Trust. Finance Report. Period 12. April to March 2009
West Hertfordshire Hospitals NHS Trust Finance Report Period 12 April to March 2009 Presented by Phil Bradley (Acting) Director of Finance 17 April 2009 1 Summary Financial Overview as at 31 March 2009
More information(59) MANAGEMENT ACCOUNTING & BUSINESS FINANCE
All Rights Reserved THE ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA FINAL EXAMINATION JULY 2013 (59) MANAGEMENT ACCOUNTING & BUSINESS FINANCE Time: 03 hours Instructions to candidates: (1) This
More informationAdd: manufacturing overhead costs in inventory under absorption costing +27,000 Net operating income under absorption costing $4,727,000
THE HONG KONG POLYTECHNIC UNIVERSITY HONG KONG COMMUNITY COLLEGE Subject Title : Cost Accounting Subject Code : CCN2111 Session : Semester One, 2018/19 Numerical Answer Question B1 Required production
More informationPRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. April 2016
10 June 2016 PRESS RELEASE Securities issued by Hungarian residents and breakdown by holding sectors April 2016 According to securities statistics data, the amount outstanding of equity securities and
More informationBig Walnut Local School District
Big Walnut Local School District Monthly Financial Report for the month ended September 30, 2013 Prepared By: Felicia Drummey Treasurer BIG WALNUT LOCAL SCHOOL DISTRICT SUMMARY OF YEAR TO DATE FINANCIAL
More informationRegional overview Hawke's Bay
Regional overview Purchasing intentions - additional income-related rent subsidy (IRRS) places Area Hastings Central 1 2 3 4+ TOTAL 5 5 25 125 3 3 1 7 total 8 8 35 195 7 8 9 1 11 Purchasing intentions
More informationFree of Cost ISBN : CMA (CWA) Inter Gr. II. (Solution upto June & Questions of Dec Included)
Free of Cost ISBN : 978-93-5034-704-1 Solved Scanner Appendix CMA (CWA) Inter Gr. II (Solution upto June - 2013 & Questions of Dec - 2013 Included) Chapter- 2: Material Accounting 2013 - June [7] (a) Date
More informationWrite your answers in blue or black ink/ballpoint. Pencil may be used only for graphs, charts, diagrams, etc.
Series 3 Examination 2008 COST ACCOUNTING Level 3 Friday 6 June Subject Code: 3016 Time allowed: 3 hours INSTRUCTIONS FOR CANDIDATES Answer 5 questions. All questions carry equal marks. Write your answers
More informationMitchell Electric Charitable Fund PO Box 409 Camilla, GA (229) or FAX:
Mitchell Electric Charitable Fund PO Box 409 Camilla, GA 31730 (229) 336-5221 or 1-800-479-6034 FAX: 229-336-7088 For Office use only: Agency / Organization Application All attached sheets, including financial
More informationAnswer to MTP_Intermediate_ Syllabus 2012_December 2016_Set2. Paper 10- Cost & Management Accountancy
Paper 10- Cost & Management Accountancy Page 1 of 14 Paper 10- Cost & Management Accountancy Full Marks: 100 Time allowed: 3 Hours Section A 1. Answer Question No.1 which is compulsory carrying 5 Marks
More informationThe equity derivatives market: The state of the art
The equity derivatives market: The state of the art Susan Thomas susant@igidr.ac.in http://www.igidr.ac.in/~susant August 11, 2001 Turnover Page 1 of 19 Goals Index futures Index options Stock options
More informationMultiple Choice Questions
Multiple Choice Questions 1. The difference between the actual price and the standard price, multiplied by the actual quantity of materials purchased is the a) direct labor price variance b) direct labor
More informationChapter 6. Solution: Austin Electronics. State of Economy Sales Probability
Chapter 6 Problems 6-1. Austin Electronics expects sales next year to be $900,000 if the economy is strong, $650,000 if the economy is steady, and $375,000 if the economy is weak. The firm believes there
More informationReview of Membership Developments
RIPE Network Coordination Centre Review of Membership Developments 7 October 2009/ GM / Lisbon http://www.ripe.net 1 Applications development RIPE Network Coordination Centre 140 120 100 80 60 2007 2008
More informationTERMS OF REFERENCE FOR THE INVESTMENT COMMITTEE
I. PURPOSE The purpose of the Investment Committee (the Committee ) is to recommend to the Board the investment policy, including the asset mix policy and the appropriate benchmark for both ICBC and any
More informationMONTHLY FINANCIAL REPORT June 2009
California Independent System Operator MONTHLY FINANCIAL REPORT June 2009 151 Blue Ravine Road Folsom, CA 95630 (916) 351-4000 CALIFORNIA INDEPENDENT SYSTEM OPERATOR CORPORATION MONTHLY FINANCIAL REPORT
More informationAFM481 - Advanced Cost Accounting Professor Grant Russell Final Exam Material Chapter 11 & 13. Chapter 11: Standard Costs and Variance Analysis
AFM481 - Advanced Cost Accounting Professor Grant Russell Final Exam Material Chapter 11 & 13 Chapter 11: Standard Costs and Variance Analysis Variance Analysis: calculating variances and investigating
More informationACCOUNTING 1 BACHELOR OF COMMERCE
JULY 2013 SUPPLEMENTARY/AEGROTAT EXAMINATION MODULE: ACCOUNTING 1 PROGRAMME: BACHELOR OF COMMERCE DATE: 31 July 2013 TIME: 09h00 12h00 DURATION: 3 hours MARKS: 100 EXAMINER: P. Salikram MODERATOR: N. Naidoo
More informationEffective Budgeting and Cost Control. Contents are subject to change. For the latest updates visit
Effective Budgeting and Cost Page 1 of 9 Why Attend ning and budgeting are must-have skills for all professionals regardless of their function or managerial level. This course covers the concept of budgeting
More informationCONCEPTS AND FORMULAE
CHAPTER 6 Standard Costing Basic Concepts 6.1 Meaning of Variance Analysis BASIC CONCEPTS AND FORMULAE Variance analysis is the analysis of the cost variances into its component parts with appropriate
More informationTop NYMEX Crude Oil Options Daily Market Update
Options Volume and Open Interest: Last 5 Trade Days Options Volume and Open Interest: Last 12 Months Trade Date Globex ClearPort Pit Total Volume % Volume % Volume % Volume 11/13/2017 141,096 71% 58,191
More informationThe Financial Reporting Checklists Every Firm should be Doing
The Financial Reporting Checklists Every Firm should be Doing Presented by Rebecca Kelley, CPA Maggie Kennedy, CPA FM34 4/5/2017 3:00 PM - 4:15 PM The handouts and presentations attached are copyright
More information