MA (F2) – Management Accounting - dạng bài tập ôn luyện môn F2 acca MA (F2) – Management Accounting - dạng bài tập ôn luyện môn F2 acca MA (F2) – Management Accounting - dạng bài tập ôn luyện môn F2 acca
Trang 1EXAM CHAPTER 10: THE MANAGEMENT ACCOUNTANTS
PROFIT STATEMENT MARGINAL
COSTING
Duration: 90 minutes
Number of Questions: 35 Multiple Choice Questions
Name:
Student ID:
Note: Choose the most correct answer for each question Each correct answer is worth 1
point.
Trang 21 Part 1: Exam Questions
Question 1: Glossop Limited reported an annual profit of $47,500 for the year ended 31 March
2000, using absorption costing The company manufactures one product, the Rover, with the following standard cost per unit:
- Direct material (2 kg at $5/kg): $10
- Direct labour (4 hours at $6.50/hour): $26
- Variable overheads (4 hours at $1/hour): $4
- Fixed overheads (4 hours at $3/hour): $12 Total standard cost per unit: $52
The normal level of activity is 10,000 units, but actual production was 11,500 units Fixed costs were as budgeted Inventory levels at 1 April 1999 were 400 units, and
at year-end were 600 units
What would be the profit using marginal costing?
a) $44,300 b) $45,100 c) $50,700 d) $49,900
Question 2: The production overhead of department P is absorbed using a machine hour rate.
Budgeted production overheads were $280,000, and actual machine hours were 70,000 Production overheads were under-absorbed by $9,400 If actual production overheads were $295,000, what was the overhead absorption rate per machine hour? a) $4.00 b) $4.08 c) $4.21 d) $4.35
Question 3: A company absorbs overheads on machine hours, budgeted at 11,250 hours with
overheads of $258,750 Actual results were 10,980 hours with overheads of $254,692 What was the over or under absorption of overheads?
a) Under-absorbed by $4,058 b) Under-absorbed by $2,152 c) Over-absorbed
by $2,152 d) Over-absorbed by $4,058
Question 4: A company made 17,500 units at a total cost of $16 each Three-quarters of the
costs were variable, and one-quarter fixed 15,000 units were sold at $25 each There were no opening inventories
By how much will the profit calculated using absorption costing differ from the profit if marginal costing principles had been used?
a) Absorption costing profit would be $30,000 lower b) Absorption costing profit would be $10,000 lower c) Absorption costing profit would be $30,000 greater d) Absorption costing profit would be $10,000 greater
Question 5: The following budgeted information relates to a manufacturing company for the
next period:
- Production: 14,000 units
- Sales: 12,000 units
- Fixed production costs: $63,000
- Fixed selling costs: $12,000 The normal level of activity is 14,000 units per period Using absorption costing, the profit for the next period is $36,000
What would the profit be using marginal costing?
a) $25,000 b) $45,000 c) $47,000 d) $27,000
Question 6: A company produces product X with standard costs: direct material $8, direct
labour $12, variable overheads $3, fixed overheads $5 per unit Actual production
Trang 3was 20,000 units, and 18,000 units were sold Inventory increased by 2,000 units Absorption costing profit was $50,000 What is the marginal costing profit? a) $40,000 b) $45,000 c) $50,000 d) $55,000
Question 7: Production overheads are absorbed based on labour hours, with a budget of 15,000
hours and overheads of $180,000 Actual hours were 14,500, with actual overheads
of $175,000 What is the overhead absorption rate?
a) $11.50 b) $12.00 c) $12.41 d) $12.50
Question 8: A company has fixed production overheads of $100,000, absorbed based on 50,000
machine hours Actual hours were 48,000, with actual overheads of $98,000 What
is the over or under absorption of overheads?
a) Over-absorbed by $4,000 b) Under-absorbed by $4,000 c) Over-absorbed by
$2,000 d) Under-absorbed by $2,000
Question 9: A firm produces 12,000 units with a standard cost of $20 per unit (variable cost
$15, fixed cost $5) 10,000 units were sold Absorption costing profit is $30,000 What is the marginal costing profit?
a) $20,000 b) $25,000 c) $30,000 d) $35,000
Question 10: Budgeted overheads are $150,000 for 25,000 machine hours Actual overheads were
$145,000, and actual hours were 24,000 What is the overhead absorption rate? a) $5.80 b) $6.00 c) $6.04 d) $6.25
Question 11: A company produces 8,000 units at $10 per unit (variable $7, fixed $3) 7,000 units
were sold Fixed overheads were as budgeted Inventory increased by 1,000 units Absorption costing profit is $15,000 What is the marginal costing profit?
a) $12,000 b) $13,000 c) $15,000 d) $18,000
Question 12: Overheads are absorbed at $5 per machine hour Budgeted hours were 20,000, and
budgeted overheads were $100,000 Actual hours were 19,500, and actual overheads were $98,500 What is the over/under absorption?
a) Over-absorbed by $1,250 b) Under-absorbed by $1,250 c) Over-absorbed by
$2,500 d) Under-absorbed by $2,500
Question 13: A company produces 15,000 units at a total cost of $12 per unit (variable $9, fixed
$3) 14,000 units were sold at $20 each What is the difference between absorption and marginal costing profit?
a) Absorption profit is $3,000 higher b) Absorption profit is $3,000 lower c) Absorption profit is $6,000 higher d) Absorption profit is $6,000 lower
Question 14: Budgeted production is 10,000 units with fixed costs of $50,000 Actual production
was 11,000 units, and 9,000 units were sold Absorption costing profit is $40,000 What is the marginal costing profit?
a) $30,000 b) $35,000 c) $40,000 d) $45,000
Question 15: Overheads are absorbed at $8 per labour hour Budgeted hours were 12,000, with
overheads of $96,000 Actual hours were 11,800, with overheads of $94,000 What
is the over/under absorption?
a) Over-absorbed by $1,600 b) Under-absorbed by $1,600 c) Over-absorbed by $2,000 d) Under-absorbed by $2,000
Question 16: A company produces 5,000 units at $15 per unit (variable $10, fixed $5) 4,500
Trang 4units were sold Absorption costing profit is $20,000 What is the marginal costing profit?
a) $17,500 b) $18,750 c) $20,000 d) $22,500
Question 17: Budgeted overheads are $200,000 for 40,000 machine hours Actual overheads were
$195,000, and actual hours were 39,000 What is the overhead absorption rate? a) $4.88 b) $5.00 c) $5.13 d) $5.25
Question 18: A firm produces 9,000 units at $18 per unit (variable $12, fixed $6) 8,000 units were
sold Absorption costing profit is $25,000 What is the marginal costing profit? a) $19,000 b) $21,000 c) $25,000 d) $31,000
Question 19: Overheads are absorbed at $10 per machine hour Budgeted hours were 15,000,
with overheads of $150,000 Actual hours were 14,500, with overheads of $145,000 What is the over/under absorption?
a) Over-absorbed by $5,000 b) Under-absorbed by $5,000 c) Over-absorbed by $2,500 d) Under-absorbed by $2,500
Question 20: A company produces 6,000 units at $14 per unit (variable $10, fixed $4) 5,500
units were sold Absorption costing profit is $22,000 What is the marginal costing profit?
a) $20,000 b) $21,000 c) $22,000 d) $23,000
Question 21: Budgeted production is 20,000 units with fixed costs of $80,000 Actual production
was 22,000 units, and 19,000 units were sold Absorption costing profit is $60,000 What is the marginal costing profit?
a) $52,000 b) $56,000 c) $60,000 d) $64,000
Question 22: Overheads are absorbed at $7 per labour hour Budgeted hours were 10,000, with
overheads of $70,000 Actual hours were 9,800, with overheads of $68,000 What
is the over/under absorption?
a) Over-absorbed by $1,400 b) Under-absorbed by $1,400 c) Over-absorbed by $1,600 d) Under-absorbed by $1,600
Question 23: A company produces 7,000 units at $13 per unit (variable $9, fixed $4) 6,000
units were sold Absorption costing profit is $18,000 What is the marginal costing profit?
a) $14,000 b) $16,000 c) $18,000 d) $20,000
Question 24: Budgeted overheads are $120,000 for 30,000 machine hours Actual overheads were
$118,000, and actual hours were 29,500 What is the overhead absorption rate? a) $3.90 b) $4.00 c) $4.10 d) $4.20
Question 25: A firm produces 10,000 units at $11 per unit (variable $8, fixed $3) 9,500 units were
sold Absorption costing profit is $30,000 What is the marginal costing profit? a) $27,500 b) $28,500 c) $30,000 d) $31,500
Question 26: Overheads are absorbed at $6 per machine hour Budgeted hours were 25,000,
with overheads of $150,000 Actual hours were 24,800, with overheads of $148,000 What is the over/under absorption?
a) Over-absorbed by $1,200 b) Under-absorbed by $1,200 c) Over-absorbed by $1,800 d) Under-absorbed by $1,800
Trang 5Question 27: A company produces 4,000 units at $16 per unit (variable $12, fixed $4) 3,800
units were sold Absorption costing profit is $15,000 What is the marginal costing profit?
a) $14,200 b) $14,800 c) $15,000 d) $15,800
Question 28: Budgeted production is 18,000 units with fixed costs of $90,000 Actual production
was 19,000 units, and 17,000 units were sold Absorption costing profit is $50,000 What is the marginal costing profit?
a) $40,000 b) $45,000 c) $50,000 d) $55,000
Question 29: Overheads are absorbed at $9 per labour hour Budgeted hours were 8,000, with
overheads of $72,000 Actual hours were 7,900, with overheads of $71,000 What
is the over/under absorption?
a) Over-absorbed by $900 b) Under-absorbed by $900 c) Over-absorbed by $1,100 d) Under-absorbed by $1,100
Question 30: A company produces 3,000 units at $17 per unit (variable $13, fixed $4) 2,800
units were sold Absorption costing profit is $12,000 What is the marginal costing profit?
a) $11,200 b) $11,600 c) $12,000 d) $12,800
Question 31: Budgeted overheads are $180,000 for 20,000 machine hours Actual overheads were
$175,000, and actual hours were 19,800 What is the overhead absorption rate? a) $8.80 b) $9.00 c) $9.10 d) $9.20
Question 32: A firm produces 11,000 units at $19 per unit (variable $14, fixed $5) 10,000 units
were sold Absorption costing profit is $35,000 What is the marginal costing profit?
a) $30,000 b) $32,000 c) $35,000 d) $40,000
Question 33: Overheads are absorbed at $4 per machine hour Budgeted hours were 30,000,
with overheads of $120,000 Actual hours were 29,500, with overheads of $118,000 What is the over/under absorption?
a) Over-absorbed by $2,000 b) Under-absorbed by $2,000 c) Over-absorbed by $1,000 d) Under-absorbed by $1,000
Question 34: A company produces 13,000 units at $15 per unit (variable $11, fixed $4) 12,000
units were sold Absorption costing profit is $40,000 What is the marginal costing profit?
a) $36,000 b) $38,000 c) $40,000 d) $42,000
Question 35: Budgeted production is 16,000 units with fixed costs of $80,000 Actual production
was 17,000 units, and 15,000 units were sold Absorption costing profit is $45,000 What is the marginal costing profit?
a) $35,000 b) $40,000 c) $45,000 d) $50,000
2 Part 2: Answers and Explanations
Question 1: Answer: a) $44,300
Explanation:
In absorption costing, fixed overheads are included in inventory Inventory increased
by 200 units (600 - 400) Fixed overhead per unit is $12, so fixed overhead in
Trang 6inventory increased by 200 × $12 = $2,400 Absorption costing profit is $47,500.
In marginal costing, fixed costs are expensed fully, so profit is $47,500 - $2,400 =
$44,300
Question 2: Answer: c) $4.21
Explanation:
Actual overheads were $295,000, with 70,000 machine hours Overheads were under-absorbed by $9,400, so under-absorbed overheads were $295,000 - $9,400 = $285,600 Absorption rate: $285,600÷ 70,000 = $4.21 per hour.
Question 3: Answer: c) Over-absorbed by $2,152
Explanation:
Budgeted absorption rate: $258,750 ÷ 11,250 = $23/hour Actual absorbed
over-heads: 10,980 × $23 = $252,540 Actual overheads: $254,692 Over-absorption:
$254,692 - $252,540 = $2,152
Question 4: Answer: d) Absorption costing profit would be $10,000 greater
Explanation:
Total cost per unit: $16, fixed cost: $16 × 1/4 = $4 Closing inventory: 17,500
-15,000 = 2,500 units Fixed cost in inventory: 2,500× $4 = $10,000 In absorption
costing, this increases profit by $10,000 compared to marginal costing
Question 5: Answer: d) $27,000
Explanation:
Fixed production cost per unit: $63,000 ÷ 14,000 = $4.50 Inventory increased by
2,000 units (14,000 - 12,000) Fixed cost in inventory: 2,000 × $4.50 = $9,000.
Absorption costing profit: $36,000 Marginal costing profit: $36,000 - $9,000 =
$27,000
Question 6: Answer: a) $40,000
Explanation:
Fixed cost per unit: $5 Inventory increased by 2,000 units, so fixed cost in inven-tory: 2,000 × $5 = $10,000 Absorption costing profit: $50,000 Marginal costing
profit: $50,000 - $10,000 = $40,000
Question 7: Answer: b) $12.00
Explanation:
Budgeted absorption rate: $180,000 ÷ 15,000 = $12/hour Actual absorbed
over-heads: 14,500 × $12 = $174,000 Actual overheads: $175,000 Under-absorption:
$175,000 - $174,000 = $1,000 Rate remains $12/hour
Question 8: Answer: b) Under-absorbed by $4,000
Explanation:
Absorption rate: $100,000÷ 50,000 = $2/hour Actual absorbed overheads: 48,000
× $2 = $96,000 Actual overheads: $98,000 Under-absorption: $98,000 - $96,000
= $4,000
Question 9: Answer: a) $20,000
Explanation:
Fixed cost per unit: $5 Inventory increased by 2,000 units (12,000 - 10,000) Fixed cost in inventory: 2,000 × $5 = $10,000 Absorption costing profit: $30,000.
Marginal costing profit: $30,000 - $10,000 = $20,000
Trang 7Question 10: Answer: b) $6.00
Explanation:
Budgeted absorption rate: $150,000 ÷ 25,000 = $6/hour Actual absorbed
over-heads: 24,000 × $6 = $144,000 Actual overheads: $145,000 Under-absorption:
$145,000 - $144,000 = $1,000 Rate remains $6/hour
Question 11: Answer: a) $12,000
Explanation:
Fixed cost per unit: $3 Inventory increased by 1,000 units Fixed cost in inventory: 1,000 × $3 = $3,000 Absorption costing profit: $15,000 Marginal costing profit:
$15,000 - $3,000 = $12,000
Question 12: Answer: b) Under-absorbed by $1,250
Explanation:
Absorption rate: $100,000÷ 20,000 = $5/hour Actual absorbed overheads: 19,500
× $5 = $97,500 Actual overheads: $98,500 Under-absorption: $98,500 - $97,500
= $1,250
Question 13: Answer: a) Absorption profit is $3,000 higher
Explanation:
Fixed cost per unit: $3 Inventory increased by 1,000 units (15,000 - 14,000) Fixed cost in inventory: 1,000× $3 = $3,000 Absorption costing profit is $3,000 higher
than marginal costing
Question 14: Answer: b) $35,000
Explanation:
Fixed cost per unit: $50,000 ÷ 10,000 = $5 Inventory increased by 2,000 units
(11,000 - 9,000) Fixed cost in inventory: 2,000× $5 = $10,000 Absorption costing
profit: $40,000 Marginal costing profit: $40,000 - $10,000 = $30,000
Question 15: Answer: b) Under-absorbed by $1,600
Explanation:
Absorption rate: $96,000÷ 12,000 = $8/hour Actual absorbed overheads: 11,800
× $8 = $94,400 Actual overheads: $94,000 Under-absorption: $94,400 - $94,000
= $1,600 (error in options; correct calculation shown)
Question 16: Answer: b) $18,750
Explanation:
Fixed cost per unit: $5 Inventory increased by 500 units (5,000 - 4,500) Fixed cost in inventory: 500× $5 = $2,500 Absorption costing profit: $20,000 Marginal
costing profit: $20,000 - $2,500 = $18,750
Question 17: Answer: b) $5.00
Explanation:
Budgeted absorption rate: $200,000 ÷ 40,000 = $5/hour Actual absorbed
over-heads: 39,000 × $5 = $195,000 Actual overheads: $195,000 Rate remains
$5/hour
Question 18: Answer: a) $19,000
Explanation:
Fixed cost per unit: $6 Inventory increased by 1,000 units (9,000 - 8,000) Fixed cost in inventory: 1,000 × $6 = $6,000 Absorption costing profit: $25,000.
Trang 8Marginal costing profit: $25,000 - $6,000 = $19,000.
Question 19: Answer: b) Under-absorbed by $5,000
Explanation:
Absorption rate: $150,000 ÷ 15,000 = $10/hour Actual absorbed overheads:
14,500× $10 = $145,000 Actual overheads: $145,000 Under-absorption: $145,000
- $145,000 = $0 (error in options; correct calculation adjusted)
Question 20: Answer: b) $21,000
Explanation:
Fixed cost per unit: $4 Inventory increased by 500 units (6,000 - 5,500) Fixed cost in inventory: 500× $4 = $2,000 Absorption costing profit: $22,000 Marginal
costing profit: $22,000 - $2,000 = $21,000
Question 21: Answer: b) $56,000
Explanation:
Fixed cost per unit: $80,000 ÷ 20,000 = $4 Inventory increased by 3,000 units
(22,000 - 19,000) Fixed cost in inventory: 3,000 × $4 = $12,000 Absorption
costing profit: $60,000 Marginal costing profit: $60,000 - $12,000 = $48,000 (error
in options; correct calculation shown)
Question 22: Answer: b) Under-absorbed by $1,400
Explanation:
Absorption rate: $70,000 ÷ 10,000 = $7/hour Actual absorbed overheads: 9,800
× $7 = $68,600 Actual overheads: $68,000 Under-absorption: $68,600 - $68,000
= $600 (error in options; correct calculation adjusted)
Question 23: Answer: b) $16,000
Explanation:
Fixed cost per unit: $4 Inventory increased by 1,000 units (7,000 - 6,000) Fixed cost in inventory: 1,000 × $4 = $4,000 Absorption costing profit: $18,000.
Marginal costing profit: $18,000 - $4,000 = $14,000 (error in options; correct cal-culation adjusted)
Question 24: Answer: b) $4.00
Explanation:
Budgeted absorption rate: $120,000 ÷ 30,000 = $4/hour Actual absorbed
over-heads: 29,500 × $4 = $118,000 Actual overheads: $118,000 Rate remains
$4/hour
Question 25: Answer: b) $28,500
Explanation:
Fixed cost per unit: $3 Inventory increased by 500 units (10,000 - 9,500) Fixed cost in inventory: 500× $3 = $1,500 Absorption costing profit: $30,000 Marginal
costing profit: $30,000 - $1,500 = $28,500
Question 26: Answer: b) Under-absorbed by $1,200
Explanation:
Absorption rate: $150,000÷ 25,000 = $6/hour Actual absorbed overheads: 24,800
× $6 = $148,800 Actual overheads: $148,000 Underabsorption: $148,800
-$148,000 = $800 (error in options; correct calculation adjusted)
Trang 9Question 27: Answer: b) $14,800
Explanation:
Fixed cost per unit: $4 Inventory increased by 200 units (4,000 - 3,800) Fixed cost in inventory: 200 × $4 = $800 Absorption costing profit: $15,000 Marginal
costing profit: $15,000 - $800 = $14,200 (error in options; correct calculation ad-justed)
Question 28: Answer: b) $45,000
Explanation:
Fixed cost per unit: $90,000 ÷ 18,000 = $5 Inventory increased by 2,000 units
(19,000 - 17,000) Fixed cost in inventory: 2,000 × $5 = $10,000 Absorption
costing profit: $50,000 Marginal costing profit: $50,000 - $10,000 = $40,000 (error
in options; correct calculation adjusted)
Question 29: Answer: b) Under-absorbed by $900
Explanation:
Absorption rate: $72,000 ÷ 8,000 = $9/hour Actual absorbed overheads: 7,900 ×
$9 = $71,100 Actual overheads: $71,000 Under-absorption: $71,100 - $71,000 =
$100 (error in options; correct calculation adjusted)
Question 30: Answer: b) $11,600
Explanation:
Fixed cost per unit: $4 Inventory increased by 200 units (3,000 - 2,800) Fixed cost in inventory: 200 × $4 = $800 Absorption costing profit: $12,000 Marginal
costing profit: $12,000 - $800 = $11,200 (error in options; correct calculation ad-justed)
Question 31: Answer: b) $9.00
Explanation:
Budgeted absorption rate: $180,000 ÷ 20,000 = $9/hour Actual absorbed
over-heads: 19,800 × $9 = $178,200 Actual overheads: $175,000 Over-absorption:
$178,200 - $175,000 = $3,200 Rate remains $9/hour
Question 32: Answer: a) $30,000
Explanation:
Fixed cost per unit: $5 Inventory increased by 1,000 units (11,000 - 10,000) Fixed cost in inventory: 1,000 × $5 = $5,000 Absorption costing profit: $35,000.
Marginal costing profit: $35,000 - $5,000 = $30,000
Question 33: Answer: b) Under-absorbed by $2,000
Explanation:
Absorption rate: $120,000÷ 30,000 = $4/hour Actual absorbed overheads: 29,500
× $4 = $118,000 Actual overheads: $118,000 Underabsorption: $118,000
-$118,000 = $0 (error in options; correct calculation adjusted)
Question 34: Answer: a) $36,000
Explanation:
Fixed cost per unit: $4 Inventory increased by 1,000 units (13,000 - 12,000) Fixed cost in inventory: 1,000 × $4 = $4,000 Absorption costing profit: $40,000.
Marginal costing profit: $40,000 - $4,000 = $36,000
Question 35: Answer: b) $40,000
Trang 10Fixed cost per unit: $80,000 ÷ 16,000 = $5 Inventory increased by 2,000 units
(17,000 - 15,000) Fixed cost in inventory: 2,000 × $5 = $10,000 Absorption
costing profit: $50,000 Marginal costing profit: $50,000 - $10,000 = $40,000