AQA A-level ACCOUNTING 7127/2 Paper 2 Accounting for analysis and decision-making Version: 1.0 Final *jun* IB/G/Jun23/E13 7127/2// QUESTION PAPER & MARKING SCHEME/ [MERGED] Marl( scheme June 2023

AQA A-level ACCOUNTING 7127/2 Paper 2 Accounting for analysis and decision-making Version: 1.0 Final *jun* IB/G/Jun23/E13 7127/2 A-level ACCOUNTING Paper 2 Accounting for analysis and decision-making Tuesday 6 June 2023 Morning Time allowed: 3 hours Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the boxes at the top of this page. • Answer all questions. • You must answer the questions in the spaces provided. Do not write outside the box around each page or on blank pages. • If you need extra space for your answer(s), use the lined pages at the end of this book. Write the question number against your answer(s). • Do all rough work in this answer book. Cross through any work you do not want to be marked. Information • The marks for each question are shown in brackets. • The maximum mark for this paper is 120. Please write clearly in block capitals. Centre number Candidate number Surname Forename(s) Candidate signature I declare this is my own work. For Examiner’s Use Section Mark A B C TOTAL 2 *02* IB/G/Jun23/7127/2 Do not write outside the Section A box Answer all questions in this section. Only one answer per question is allowed. For each question completely fill in the circle alongside the appropriate answer. If you want to change your answer you must cross out your original answer as shown. If you wish to return to an answer previously crossed out, ring the answer you now wish to select as shown. 0 1 Which is the source document for a payment by direct debit? [1 mark] A Bank statement B Cash receipt C Cheque counterfoil D Purchase invoice 0 2 Which is the formula for markup? [1 mark] A Cost of sales Gross profit × 100 B Gross profit Cost of sales × 100 C Gross profit Revenue × 100 D Revenue Gross profit × 100 CORRECT METHOD WRONG METHODS 3 *03* Turn over ► IB/G/Jun23/7127/2 Do not write outside the 0 3 Which is a benefit of marginal costing box ? [1 mark] A It helps to apportion fixed costs accurately. B It helps to cover fixed costs fully. C It helps to maximise profits when resources are scarce. D It helps to minimise variable costs. 0 4 A business has the following budgeted information: Direct labour 2 240 hours £15 680 Product M uses direct material at a cost of £11.72 per unit and 30 minutes of labour. Overheads are absorbed on a direct labour hours basis at a cost of £11.80 per hour. What is the standard cost of manufacturing one Product M? [1 mark] A £15.22 B £21.12 C £27.02 D £30.52 Turn over for the next question 4 *04* IB/G/Jun23/7127/2 Do not write outside the box 0 5 Which is the formula for dividend yield? [1 mark] A Dividend per share Market price per share × 100 B Market price per share Dividend per share × 100 C Ordinary share dividends paid Profit after interest and tax × 100 D Profit after interest and tax Ordinary share dividends paid × 100 0 6 Product W has a budgeted materials cost of £578 per unit based on a monthly budgeted production of 4 920 units. For the month of April 2023, actual production was 5 110 units and the following variances were calculated: Variance £ Material price 48 710 Favourable Material usage 56 630 Adverse What is the actual total cost for materials for April 2023? [1 mark] A £2 835 840 B £2 851 680 C £2 945 660 D £2 961 500 5 *05* Turn over ► IB/G/Jun23/7127/2 Do not write outside the 0 7 box The draft accounts of a sole trader were prepared for the year ended 30 April 2023. The closing balance for the bank was £6 370 debit, and the draft profit for the year was £126 300. On 5 May 2023, it was discovered that a cheque from a credit customer for £490 had not been entered in the accounts. The cheque is in full and final settlement of an invoice totalling £535. What are the adjusted balances? [1 mark] A Bank £5 880 and profit for the year £126 255 B Bank £5 880 and profit for the year £126 345 C Bank £6 860 and profit for the year £126 255 D Bank £6 860 and profit for the year £126 345 0 8 A manufacturer provides the following information: May June Budgeted sales (in units) Opening inventory (in units) For each unit of production, 5 kg of material is needed. What is the budgeted purchases of material for May? [1 mark] A 26 375 kg B 26 500 kg C 26 625 kg D 27 000 kg 6 *06* IB/G/Jun23/7127/2 Do not write outside the box 0 9 The following information is provided by Bee Ltd for February 2023: Budgeted Actual Production overheads £507 000 £510 500 Machine hours 253 500 hours 258 375 hours Bee Ltd absorbs overheads using machine hours. What is the over- or under-absorption of overheads for February 2023? [1 mark] A £3 500 over absorbed B £3 500 under absorbed C £6 250 over absorbed D £6 250 under absorbed 1 0 The following information is available for corporation tax for a company for the year ended 31 March 2023. £ Taxation owed at 1 April Payments via bank 23 840 Taxation charge entry on the income statement 24 530 What is the balance brought down on the corporation tax account at 1 April 2023? [1 mark] A £17 980 Credit B £17 980 Debit C £19 360 Credit D £19 360 Debit