COMPRE: ADVANCED
FINANCIAL
ACCOUNTING AND
REPORTING
REMINDERS
1.Submission after 4:00 PM (system time) will not be entertained. Thus, your
score will be ZERO.
2.You need to use your PUP email address to open the link and you are only
allowed to submit once.
3.Please be reminded of the correct way how to input the amounts
(example: P1,234,567 with capital P as the peso sign, comma sign to
separate values, no space in between, and no decimal points because
final answers need to be rounded off to the nearest peso) unless
specified in the question the required format of the answer. If your
answer is zero, just put P0 (capital P and zero, no space in between).
Students who will not follow the said format will automatically receive
no point for the said answer even though he/she got the correct answer.
4.Avoid refreshing the browser/link to avoid technical issues.
5.Avoid opening other applications/tabs in your browser. They may interrupt not
only your internet connection but also the MS Forms.
6.Maintain screenshots of your answers that can be used in case of an emergency.
7.Please screenshot the notification that will appear after you have submitted your answer.
This will be used in the case that the system will not account for the answers
you have submitted. No need to send it if you do not have any issues.
8.Be honest. Cheating in any form before or during the examination will result in a zero
score.
Hi Roan Julia, when you submit this form, the owner will be able to see your name and email
address.
* Required
1
NAME (ALL IN CAPITAL LETTERS): LAST NAME, FIRST NAME MI.
,MATA, ROAN JULIA B.
2
BRANCH/ CAMPUS *
PUP San Juan V
3
STUDENT NUMBER (EXAMPLE: 2008-00432-MN-0) *
2019-00208-SJ-0
4
The unit costs per EUP computed under weighted average were as follows:
Materials- P7
Conversion costs- P21
Transferred in- P35
Materials are introduced at the beg. of the process in the 2nd of three
departments. There were 4,000 units (40% complete as to conversion
costs) in process at the end of the month while 20,000 were
transferred to the next
department.
How much is the cost of ending inventory?
*
(2 Points)
P50,400
, 5
Ethics Company operates a branch in Makati City. On October 31, 2020, the
Branch Current account had a balance of P350,000. In the process of
reconciling the reciprocal accounts, the following items were noted:
· The home office had billed the branch P75,000 for merchandise
shipment still in transit as of October 31.
· A home office customer's account for P21,000 collected by the
branch on October 26 has not been reported to the home office.
· The branch has failed to recognize its P5,000 share of advertising
expense paid for by the home office.
· The branch reported a net income of P43,500 during the fiscal
period then ended; this was erroneously taken up as P45,500 by the
home office.
How much is the unadjusted balance of the Home Office account at
October 31, 2020? *
(2 Points)
P289,000
6
Cost and management
accounting * (1 Point)
are required for business recordkeeping as are financial and tax accounting.
provide product/service cost information as well as information for internal
decision making.
require an entirely separate group of accounts than financial accounting uses.
focus solely on determining how much it costs to manufacture a product or
provide a service.
, 7
When computing variances from standard costs, the difference
between actual and standard price multiplied by actual quantity used
yields a *
(1 Point)
quantity variance
price variance
combined price-quantity variance
mix variance
8
Question
What capital adjustments/cash settlement should be made between III and JJJ?
*
(2 Points)
FINANCIAL
ACCOUNTING AND
REPORTING
REMINDERS
1.Submission after 4:00 PM (system time) will not be entertained. Thus, your
score will be ZERO.
2.You need to use your PUP email address to open the link and you are only
allowed to submit once.
3.Please be reminded of the correct way how to input the amounts
(example: P1,234,567 with capital P as the peso sign, comma sign to
separate values, no space in between, and no decimal points because
final answers need to be rounded off to the nearest peso) unless
specified in the question the required format of the answer. If your
answer is zero, just put P0 (capital P and zero, no space in between).
Students who will not follow the said format will automatically receive
no point for the said answer even though he/she got the correct answer.
4.Avoid refreshing the browser/link to avoid technical issues.
5.Avoid opening other applications/tabs in your browser. They may interrupt not
only your internet connection but also the MS Forms.
6.Maintain screenshots of your answers that can be used in case of an emergency.
7.Please screenshot the notification that will appear after you have submitted your answer.
This will be used in the case that the system will not account for the answers
you have submitted. No need to send it if you do not have any issues.
8.Be honest. Cheating in any form before or during the examination will result in a zero
score.
Hi Roan Julia, when you submit this form, the owner will be able to see your name and email
address.
* Required
1
NAME (ALL IN CAPITAL LETTERS): LAST NAME, FIRST NAME MI.
,MATA, ROAN JULIA B.
2
BRANCH/ CAMPUS *
PUP San Juan V
3
STUDENT NUMBER (EXAMPLE: 2008-00432-MN-0) *
2019-00208-SJ-0
4
The unit costs per EUP computed under weighted average were as follows:
Materials- P7
Conversion costs- P21
Transferred in- P35
Materials are introduced at the beg. of the process in the 2nd of three
departments. There were 4,000 units (40% complete as to conversion
costs) in process at the end of the month while 20,000 were
transferred to the next
department.
How much is the cost of ending inventory?
*
(2 Points)
P50,400
, 5
Ethics Company operates a branch in Makati City. On October 31, 2020, the
Branch Current account had a balance of P350,000. In the process of
reconciling the reciprocal accounts, the following items were noted:
· The home office had billed the branch P75,000 for merchandise
shipment still in transit as of October 31.
· A home office customer's account for P21,000 collected by the
branch on October 26 has not been reported to the home office.
· The branch has failed to recognize its P5,000 share of advertising
expense paid for by the home office.
· The branch reported a net income of P43,500 during the fiscal
period then ended; this was erroneously taken up as P45,500 by the
home office.
How much is the unadjusted balance of the Home Office account at
October 31, 2020? *
(2 Points)
P289,000
6
Cost and management
accounting * (1 Point)
are required for business recordkeeping as are financial and tax accounting.
provide product/service cost information as well as information for internal
decision making.
require an entirely separate group of accounts than financial accounting uses.
focus solely on determining how much it costs to manufacture a product or
provide a service.
, 7
When computing variances from standard costs, the difference
between actual and standard price multiplied by actual quantity used
yields a *
(1 Point)
quantity variance
price variance
combined price-quantity variance
mix variance
8
Question
What capital adjustments/cash settlement should be made between III and JJJ?
*
(2 Points)
