Chapter10Test
1、单选题：
Information relating to two processes (F and G) was as follows:Process Normal loss as % of Input input liters output litres F 8 65,000 58,900 G 5 37,500 35,700For each process, was there an abnormal loss or an abnormal gain?
选项：
A: Process F Process G Abnormal gain Abnormal gain
B: Process F Process G Abnormal gain Abnormal loss
C: Process F Process G Abnormal loss Abnormal gain
D: Process F Process G Abnormal loss Abnormal loss
答案: 【 Process F Process G Abnormal loss Abnormal gain】
2、单选题：
A cleaning fluid is produced by a series of process. The following information relates to the final process:Opening WIP 2000litresClosing WIP 1500litresInput 42300litresTransfer to finished goods stock 40100litresNormal loss 400litresThe abnormal loss is:
选项：
A: 800 litres
B: 1300litres
C: 1800litres
D: 2300litres
答案: 【 2300litres】
3、单选题：
A company uses process costing to value its output and all materials are input at the start of the process. The following information relates to the process for one month: Input 3,000 units Opening stock 400 units Losses 10% of input is expected to be lost Closing stock 200 units How many good units were output from the process if actual losses were 400 units?
选项：
A: 2,800 units
B: 2,900 units
C: 3,000 units
D: 3,200 units
答案: 【 2,800 units】
4、单选题：
In a process account, how are abnormal losses valued?
选项：
A: At their scrap value
B: The same as good production
C: At the cost of raw materials
D: The same as normal losses
答案: 【 The same as good production】
5、单选题：
Perth operates a process costing system. The process is expected to lose 25% of input and this can be sold for $8 per kg. Inputs for the month were: Direct materials 3,500 kg at a total cost of $52,500 Direct labour $9,625 for the period There is no opening or closing work in progress in the period. Actual output was 2,800 kg. What is the valuation of the output?
选项：
A: $44,100
B: $49,700
C: $58,800
D: $56,525
答案: 【 $58,800】
6、单选题：
A company uses process costing to value output. During the last month the following information was recorded: Output: 2,800 kg valued at $7.50/kg Normal loss: 300 kg which has a scrap value of $3/kg Actual loss: 200 kg What was the value of the input?
选项：
A: $22,650
B: $21,900
C: $21,600
D: $21,150
答案: 【 $21,150】
7、单选题：
Which of the following statements about process losses are correct? (i) Units of normal loss should be valued at full cost per unit (ii) Units of abnormal loss should be valued at their scrap value
选项：
A: (i) only
B: (ii) only
C: Both of them
D: Neither of them
答案: 【 Neither of them】
8、单选题：
A company which operates a process costing system had work in progress at the start of last month of 300 units (valued at $1,710) which were 60% complete in respect of all costs. Last month a total of 2,000 units were completed and transferred to the finished goods warehouse. The cost per equivalent unit for costs arising last month was $10. The company uses the FIFO method of cost allocation. What was the total value of the 2,000 units transferred to the finished goods warehouse last month?
选项：
A: $19,910
B: $20,000
C: $20,510
D: $21,710
答案: 【 $19,910】
9、单选题：
Which of the following best describes the term’ equivalent units’ when using the FIFO method?
选项：
A: The number of units worked on during a period including the opening and closing stock units.
B: The number of whole units worked on during a period ignoring the levels on completion of opening and closing stock units.
C: The number of effective whole units worked on during a period allowing for the levels of completion of opening and closing stock units.
D: The total number of whole units started during a period ignoring the opening stock units as these were started in the previous period.
答案: 【 The number of effective whole units worked on during a period allowing for the levels of completion of opening and closing stock units.】
10、单选题：
The following information relates to questions 10 and 11:A company operates a process costing system using the FIFO method of valuation. No losses occur in the process. All materials are input at the commencement of the process. Conversion costs are incurred evenly through the process.The following data relate to last period: Units Degree of completionOpening work in progress 2,000 60%Total number of units completed 14,000Closing work in progress 3,000 30% $Costs arising:Materials 51,000Conversion 193,170What was the total number of units input during last period?
选项：
A: 12,000
B: 13,000
C: 15,000
D: 17,000
答案: 【 15,000】
11、单选题：
What was the value of the closing work in progress for last period?
选项：
A: $21,330
B: $21,690
C: $22,530
D: $22,890
答案: 【 $22,890】
12、单选题：
The following information relates to questions 12 and 13. A company makes a product in two processes. The following data is available for the latest period,for process 1. Opening work in progress of 200 units was valued as follows. Material $2,400 Labour $1,200 Overhead $400 No losses occur in the process. Units added and costs incurred during the period: Material $6,000 (500 units) Labour $3,350 Overhead $1,490 Closing work in progress of 100 units had reached the following degrees of completion: Material 100% Labour 50% Overhead 30% The company uses the weighted average method of inventory valuation.How many equivalent units are used when calculating the cost per unit in relation to overhead?
选项：
A: 500
B: 600
C: 630
D: 700
答案: 【 630】
13、单选题：
What is the value of the units transferred to process 2?
选项：
A: $7,200
B: $13,200
C: $14,840
D: $15,400
答案: 【 $13,200】
14、单选题：
Ally Co has the following information available on Process 9: Process 9 account $ $Input 10,000kg 59,150 Finished goods 8,000kg 52,000 Closing WIP 2,000kg 7,150 59,150 59,150How many equivalent units were there for closing WIP?
选项：
A: 1,000
B: 2,000
C: 1,100
D: 1,200
答案: 【 1,100】
15、单选题：
340 litres of chemical X were produced in a period. There is a normal loss of 10% and an abnormal loss of 5% of the material input into the process.How many litres of material were input into the process during the period?
选项：
A: 377 litres
B: 400 litres
C: 380 litres
D: 358 litres
答案: 【 400 litres】
Chapter11Processcosting,jointproductandby-product
Chapter11Test
1、单选题：
Which of the following statements is/are correct? (i) A by-product is a product produced at the same time as other products which has a relatively low volume compared with the other products (ii) Since a by-product is a saleable item it should be separately costed in the process account, and should absorb some of the process costs (iii) Costs incurred prior to the point of separation are known as common or joint costs
选项：
A: (i) and (ii)
B: (i) and (iii)
C: (ii) and (iii)
D: (iii) only
答案: 【 (iii) only】
2、单选题：
What is a by-product?
选项：
A: A product produced at the same time as other products which has no value
B: A product produced at the same time as other products which requires further processing to put it in a saleable state
C: A product produced at the same time as other products which has a relatively low volume compared with the other products
D: A product produced at the same time as other products which has a relatively low value compared with the other products
答案: 【 A product produced at the same time as other products which has a relatively low value compared with the other products】
3、单选题：
The following data relates to questions 3 and 4. A company manufactures two joint products, P and R, in a common process. Data for June are as follows. $ Opening inventory 1,000 Direct materials added 10,000 Conversion costs 12,000 Closing inventory 3,000 Production units Sales units Sales price($) P 4,000 5,000 5 R 6,000 5,000 10If costs are apportioned between joint products on a sales value basis, what was the cost per unit of product R in June?
选项：
A: $1.25
B: $2.22
C: $2.50
D: $2.75
答案: 【 $2.50】
4、单选题：
If costs are apportioned between joint products on a physical unit basis, what was the total cost of product P production in June?
选项：
A: $8,000
B: $8,800
C: $10,000
D: $12,000
答案: 【 $8,000】
5、单选题：
In a process where there are no work-in-progress stocks, two joint products (J and K) are created. Information (in units) relating to last month is as follows:Product Sales Opening stock of Closing stock of finished goods finished goods J 6,000 100 300 K 4,000 400 200Joint production costs last month were $110,000 and these were apportioned to joint products based on the number of units produced. What were the joint production costs apportioned to product J for last month?
选项：
A: $63,800
B: $64,000
C: $66,000
D: $68,200
答案: 【 $68,200】
6、单选题：
Two products G and H are created from a joint process. G can be sold immediately after split-off. H requires further processing before it is in a saleable condition. There are no opening stocks and no work in progress. The following data are available for last period: Total joint production costs $384,000Further processing costs (product H) $159,600 Product Selling price per unit Sales units Production units G $0.84 400,000 412,000 H $1.82 200,000 228,000Using the physical unit method for apportioning joint production costs, what was the cost value of the closing stock of product H for last period?
选项：
A: $36,400
B: $37,520
C: $40,264
D: $45,181
答案: 【 $36,400】
7、单选题：
Charleville operates a continuous process producing three products and one by-product. Output from the process for a month was as follows: Product Selling price per unit Units of output from process 1 $18 10,0002 $25 20,0003 $20 20,0004(by-product) $2 3,500Total output costs were $277,000. What was the unit valuation for product 3 using the sales revenue basis for allocating joint cost?
选项：
A: $4.70
B: $4.80
C: $5.00
D: $5.10
答案: 【 $5.00】
Chapter12Forecasting
Chapter12Test
1、单选题：
选项：
A: (i) and (ii) only
B: (i) and (iii) only
C: (ii) and (iii) only
D: (i), (ii) and (iii)
答案: 【 (i) and (ii) only 】
2、单选题：
Regression analysis is being used to find the line of best fit (y = a + bx) from eleven pairs of data. The calculations have produced the following information: Σx = 440, Σy = 330, Σ(x*x) = 17,986, Σ(y*y) = 10,366 and Σxy = 13,467What is the value of ‘a’ in the equation for the line of best fit (to 2 decimal places)?
选项：
A: 0.63
B: 0.69
C: 2.33
D: 5.33
答案: 【 2.33】
3、单选题：
Brisbane Limited has recorded the following sales information for the past six months: Month Advertising expenditure ($’000) Sales revenue ($’000) 1 1.5 30 2 2 27 3 1.75 25 4 3 40 5 2.5 32 6 2.75 38 The following has also been calculated: Σ(Advertising expenditure) = $13,500 Σ(Sales revenue) = $192,000 Σ(Advertising expenditure x Sales revenue) = $447,250,000 Σ(Sales revenue x Sales revenue ) = $6,322,000,000 Σ(Advertising expenditure2) = $32,125,000What is the value of b, i.e. the gradient of the regression line?
选项：
A: 0.070
B: 0.086
C: 8.714
D: 14.286
答案: 【 8.714】
4、单选题：
The regression equation Y=3+2x has been calculated from 6 pairs of values, with x range from 1 to 10. The correlation coefficient is 0.8. It is estimated that y=43 when x=20.Which of the following are true?(i)The estimate is not reliable because x is outside the range of the data(ii)The estimate is not reliable because the correlation is low(iii)The estimate is reliable(iv) The estimate is not reliable because the sample is small
选项：
A: (i) and (ii) only
B: (i) and (iii) only
C: (ii) and (iv) only
D: (i) and (iv) only
答案: 【 (i) and (iv) only】
5、单选题：
The correlation coefficient (r) for measuring the connection between two variables (x and y) has been calculated as 0.6. How much of the variation in the dependent variable (y) is explained by the variation in the independent variable (x)?
选项：
A: 36%
B: 40%
C: 60%
D: 64%
答案: 【 36%】
6、单选题：
Over an 18-month period, sales have been found to have an underlying linear trend of y = 7.112 +3.949x, where y is the number of items sold and x represents the month. Monthly deviations from trend have been calculated and month 19 is expected to be 1.12 times the trend value. What is the forecast number of items to be sold in month 19?
选项：
A: 91
B: 92
C: 93
D: 94
答案: 【 92】
7、单选题：
Based on the last 15 periods the underlying trend of sales is y = 345.12 – 1.35x. If the 16th period has a seasonal factor of –23.62, assuming an additive forecasting model, what is the forecast for that period, in whole units?
选项：
A: 300
B: 301
C: 324
D: 325
答案: 【 300】
8、单选题：
What is the purpose of seasonally adjusting the values in a time series?
选项：
A: To obtain an instant estimate of the degree of seasonal variation
B: To obtain an instant estimate of the trend
C: To ensure that seasonal components total zero
D: To take the first step in a time series analysis of the data
答案: 【 To obtain an instant estimate of the trend】
9、单选题：
Which of the following are necessary if forecasts obtained from a time series analysis are to be reliable? (i) The trend must not be increasing or decreasing (ii) The trend must continue as in the past (iii) Extrapolation must not be used (iv) The same pattern of seasonal variation must continue as in the past
选项：
A: (i) only
B: (i) and (ii) only
C: (ii) and (iv) only
D: (i) and (iii) only
答案: 【 (ii) and (iv) only】
10、单选题：
Using an additive time series model, the quarterly trend (Y) is given by Y = 65 + 7t, where t is the quarter (starting with t = 1 in the first quarter of 20X5). If the seasonal component in the fourth quarter is –30, what is the forecast for the actual value for the fourth quarter of 20X6, to the nearest whole number?
选项：
A: 63
B: 546
C: 85
D: 91
答案: 【 91】
11、单选题：
The trend for monthly sales ($Y) is related to the month (t) by the equation Y = 1,500 – 3t where t = 1 in the first month of 20X8. What are the forecast sales (to the nearest dollar) for the first month of 20X9 if the seasonal component for that month is 0.92 using a multiplicative model?
选项：
A: $1,377
B: $17,904
C: $1,344
D: $1,462
答案: 【 $1,344】
12、单选题：
Four years ago material X cost $5 per kg and the price index most appropriate to the cost of material X stood at 150.The same index now stands at 430. What is the best estimate of the current cost of material X per kg?
选项：
A: $1.74
B: $9.33
C: $14.33
D: $21.50
答案: 【 $14.33】
13、单选题：
The following data relates to questions 13 and 14. The wholesale price index is made up from the prices of three items. More information is as follows. Item Quantity Price per unit Quantity Price per unit 20X0 20X0 20X2 20X2 ’000 units $ ’000 units $P 60 3 80 4Q 30 6 40 5R 40 5 20 8Calculate Laspeyre price index in 20X2, if 20X0 is taken as the base year.
选项：
A: 117.2
B: 119.3
C: 126.8
D: 120.4
答案: 【 126.8】
14、单选题：
Calculate Paasche price index in 20X2, if 20X0 is taken as the base year.
选项：
A: 117.2
B: 119.3
C: 126.8
D: 120.4
答案: 【 117.2】
15、单选题：
The following data represents a time series: X 36 Y 41 34 38 42 A series of three point moving averages produced from this data has given the first two values as 38 and 39. What are the values of (X, Y) in the original time series?
选项：
A: (38, 39)
B: (38, 40)
C: (40, 38)
D: (39, 38)
答案: 【 (38, 40)】
Chapter13Budgeting
Chapter13Test
1、单选题：
Which of the following is the budget committee not responsible for?
选项：
A: Preparing functional budgets
B: Timetabling the budgetary operation
C: Allocation responsibility for budgetary preparation
D: Monitoring the budgeting process
答案: 【 Preparing functional budgets】
2、单选题：
Which of the following would probably not be contained in a budget manual?
选项：
A: A timetable for budget preparation
B: The production cost budget
C: An organization chart
D: Specimen budgetary control reports
答案: 【 The production cost budget】
3、单选题：
Which of the following are purposes of a budget? (i) establishing strategic options (ii) motivating management (iii) establishing long term objectives (iv) planning operations
选项：
A: (i) and (iii) only
B: (i) and (iv) only
C: (ii) and (iv) only
D: (ii), (iii) and (iv) only
答案: 【 (ii) and (iv) only】
4、单选题：
Which of the following best describes a principal budget factor?
选项：
A: A factor that affects all budget centres.
B: A factor that is controllable by a budget centre manager.
C: A factor which limits the activities of an organisation.
D: A factor that the management accountant builds into all budgets.
答案: 【 A factor which limits the activities of an organisation. 】
5、单选题：
What does the statement ‘sales is the principal budget factor’ mean?
选项：
A: The level of sales will determine the level of cash at the end of the period
B: The level of sales will determine the level of profit at the end of the period
C: The company’s activities are limited by the level of sales it can achieve
D: Sales is the largest item in the budget
答案: 【 The company’s activities are limited by the level of sales it can achieve】
6、单选题：
Which of the following BEST describes the purpose of a flexible budget?
选项：
A: To ensure managers are motivated
B: To facilitate control by establishing a budget relevant to actual activity levels
C: To facilitate control by preventing discretionary expenditure
D: To enable accurate reforecasting when actual costs are known
答案: 【 To facilitate control by establishing a budget relevant to actual activity levels】
7、单选题：
The following statements relate to fixed budgets and flexible budgets. (i) If production levels far exceed those anticipated, relying on a fixed budget is likely to result in massive variances (ii) Flexible budgets assist management control by providing dynamic, comparable information (iii) Flexible budgets are always superior to fixed budgets Which statements are true?
选项：
A: (i) only
B: (i) and (ii) only
C: (ii) and (iii) only
D: (i), (ii) and (iii)
答案: 【 (i) and (ii) only】
8、单选题：
The budgeted variable cost per unit was $2.75.When output was 18,000 units, total expenditure was $98,000 and it was found that fixed overhead were $11, 000 over budget whilst variable costs were in line with budget.What was the amount budgeted for fixed costs?
选项：
A: $37,500
B: $48,500
C: $49,500
D: $87,000
答案: 【 $37,500】
9、单选题：
QT Co manufactures a single product and an extract from their flexed budget for production costs is as follows. Activity level(80%) Activity level (90%) $ $ Direct material 2,400 2,700 Labour 2,120 2,160 Production overhead 4,060 4,080 8,580 8,940 What would the total production cost allowance be in a budget flexed at the 83% level of activity? (to the nearest $)
选项：
A: $6,266
B: $6,888
C: $8,586
D: $8,688
答案: 【 $8,688】
10、单选题：
Which of the following statements are true? (i) A flexed budget allows businesses to evaluate a manager’s performance more fairly (ii) A fixed budget is useful for defining the broad objectives of the organisation (iii) Relying on fixed budgets alone would usually give rise to massive variances
选项：
A: (i) and (iii) only
B: (i) and (ii) only
C: (ii) and (iii) only
D: (i), (ii) and (iii)
答案: 【 (i), (ii) and (iii)】
Chapter14Thebudgetaryprocess
Chapter14Test
1、单选题：
If a company has no production resources limitations, in which order would the following budgets be prepared?1 Material usage budget 4 Finished goods inventory budget2 Sales budget 5 Production budget3 Material purchase budget 6 Material inventory budget
选项：
A: 5, 4, 1, 6, 3, 2
B: 2, 4, 5, 1, 6, 3
C: 2, 4, 5, 1, 3, 6
D: 2, 5, 4, 1, 6, 3
答案: 【 2, 4, 5, 1, 6, 3】
2、单选题：
What does a master budget comprise?
选项：
A: The budgeted statement of profit or loss
B: The budgeted cash flow, budgeted statement of profit or loss and budgeted statement of financial position
C: The budgeted cash flow
D: The entire set of budgets prepared
答案: 【 The budgeted cash flow, budgeted statement of profit or loss and budgeted statement of financial position】
3、单选题：
Which of the following is NOT a functional budget?
选项：
A: Production budget
B: Distribution cost budget
C: Selling cost budget
D: Cash budget
答案: 【 Cash budget】
4、单选题：
When preparing a production budget, what does the quantity to be produced equal?
选项：
A: Sales quantity + opening inventory of finished goods + closing inventory of finished goods
B: Sales quantity – opening inventory of finished goods + closing inventory of finished goods
C: Sales quantity – opening inventory of finished goods – closing inventory of finished goods
D: Sales quantity + opening inventory of finished goods – closing inventory of finished goods
答案: 【 Sales quantity – opening inventory of finished goods + closing inventory of finished goods 】
5、单选题：
The quantity of material in the material purchases budget is greater than the inferred from quantity of material in the material usage budget. Which of the following statements can be this situation?
选项：
A: Wastage of material occurs in the production process
B: Finished goods inventories are budgeted to increase
C: Raw materials inventories are budgeted to increase
D: Raw materials inventories are budgeted to decrease
答案: 【 Raw materials inventories are budgeted to increase】
6、单选题：
PQS Ltd plans to sell 1,800 units of product DR next year. Opening stock of DR is budgeted to be 150 units and PQS Ltd budgets to reduce stock by ten percent by the end of the year. How many units of product DR should be produced next year?
选项：
A: 1,620
B: 1,785
C: 1,815
D: 1,965
答案: 【 1,785】
7、单选题：
A company has a budget for two products A and B as follows: Product A Product BSales (units) 2,000 4,500 Production (units) 1,750 5,000 Labour: Skilled at $10/hour 2 hours/unit 2 hours/unit Unskilled at $ 7/hour 3 hours/unit 4 hours/unit What is the budgeted cost for unskilled labour for the period?
选项：
A: $105,000
B: $135,000
C: $176,750
D: $252,500
答案: 【 $176,750】
8、单选题：
A company is preparing a production budget for the next year. The following information is relevant: Budgeted Sales 10,000 units Opening stock 600 units Closing stock 5% of budgeted sales The production process is such that 10% of the units produced are rejected. What is the number of units required to be produced to meet demand?
选项：
A: 8,900 units
B: 9,900 units
C: 10,900 units
D: 11,000 units
答案: 【 11,000 units】
9、单选题：
A company has the following budget for the next month: Finished Product Sales 7,000 u
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