AQA 2023 A-level ACCOUNTING 7127/2 Paper 2 Accounting for analysis and decision-making Question Paper & Mark scheme (Merged) June 2023 [VERIFIED]

2 Section A 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. CORRECT METHOD WRONG METHODS 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 1Which 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 2Which is the formula for markup? [1 mark] Cost of sales A Gross profit × 100 Gross profit B Cost of sales × 100 C Gross profit × 100 Revenue Revenue D Gross profit × 100 Do not write outside the box *02* IB/G/Jun23/7127/2 3 0 3Which is a benefit of marginal costing? [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 4A 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 Pr