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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: The Context of Management Accounting | 10% | - Purpose of management accounting and the role of the management accountant
|
| Topic 2: Costing | 25% | - Costing techniques
|
| Topic 3: Planning and Control | 30% | - Performance measurement and control
|
| Topic 4: Decision Making | 35% | - Long-term decision making
|
Refer to the exhibit.
Xey Ltd. has the following budgeted information for product T4 in July:
The actual results for July were as follows:
What is the total sales margin variance?
Correct Answer: C 🗳️
Refer to the exhibit.
A company has the following budget information for next year:
The raw materials usage budget for the years is:
Correct Answer:
$170800
Refer to the exhibit.
JB Limited pays 60% of invoices for goods purchased on credit, in the month after purchase. The remaining
40% are paid a month later.
Invoices are received on the last day of each month. Invoices paid in the month following purchase attract a prompt payment discount of 2%, whilst those paid in the second month attract only a 1% discount.
Credit purchases for April to June are budgeted as follows:
The amount budgeted to be paid for credit purchases in June is:
Correct Answer:
£27535
When compiling profit statement using a marginal costing system we must calculate the contribution. Once we have the contribution, we must deduct a specific amount to calculate the profit. Which of these values should we NOT deduct? (Select ALL that apply.)
Correct Answer: B,C 🗳️
A flat letting company analyses its costs by individual property. Which of the following costs would be considered an indirect cost of the property?
Correct Answer: D 🗳️
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