Uitwerkingen/Antwoordindicaties
Introduction to Financial and Management Accounting (1CV11) Practice Exam.
Question 1 (8-8-4-4 pnt.)
a. See table
b. See table
Trial I.S Balance sheet
Building 70 70
Machines 10 10
Inventories 13 13
Cash 9 9
Equity 50 49.5
Loan 50 50
Accrued Wages 1.5 1.5
Trade payables 11 11
Sales 20 20
Cost of Sales 12 12
Trade Debtors 10 10
Wage (expenses) 8.5 8.5
Profit/loss 0.5
Total 132.5 132.5 20.5 20.5 112 112
c.
i. -(3/5)1/5 + 1 =9.7111%
ii. 5,000(1-0.097111)2 = 4,075.97
d. At July 13: 100 a 2.5 and 300 a 3, implies that average is 2.875; 50 units so 143.75
Question 2 (4-3-3-4-3-3 pnt.):
a. Percentage to other serv. departments:
A: 2/12 B: 3/10 C: 30/60
Hence: C-B-A
b.
(i) A to B: 1/12*72,000 = 6,000. Hence 66,000+6,000=72,000
(ii) Percentages: 0, 0, 2/9, 3/9, and 4/9 of the amount of (i) implies
A: 0
B: 0
C: 16,000
X: 24,000
Y: 32,000
c. Rate is 3 per hour. Hence 360,000 is applied. Consequently:
360,000-350,000 = 10,000 OVERapplied
d.
(i) Materials price variance: AQ(AP-SP)= 145,000 – 15,500*10 = 10,000 F
(ii) Materials quantity variance: SP(AQ-SQ)= 10 (15,500 -16,500)= 10,000 F
[Note SQ = 5,500 * 3 =16,500]
Introduction to Financial and Management Accounting (1CV11) Practice Exam.
Question 1 (8-8-4-4 pnt.)
a. See table
b. See table
Trial I.S Balance sheet
Building 70 70
Machines 10 10
Inventories 13 13
Cash 9 9
Equity 50 49.5
Loan 50 50
Accrued Wages 1.5 1.5
Trade payables 11 11
Sales 20 20
Cost of Sales 12 12
Trade Debtors 10 10
Wage (expenses) 8.5 8.5
Profit/loss 0.5
Total 132.5 132.5 20.5 20.5 112 112
c.
i. -(3/5)1/5 + 1 =9.7111%
ii. 5,000(1-0.097111)2 = 4,075.97
d. At July 13: 100 a 2.5 and 300 a 3, implies that average is 2.875; 50 units so 143.75
Question 2 (4-3-3-4-3-3 pnt.):
a. Percentage to other serv. departments:
A: 2/12 B: 3/10 C: 30/60
Hence: C-B-A
b.
(i) A to B: 1/12*72,000 = 6,000. Hence 66,000+6,000=72,000
(ii) Percentages: 0, 0, 2/9, 3/9, and 4/9 of the amount of (i) implies
A: 0
B: 0
C: 16,000
X: 24,000
Y: 32,000
c. Rate is 3 per hour. Hence 360,000 is applied. Consequently:
360,000-350,000 = 10,000 OVERapplied
d.
(i) Materials price variance: AQ(AP-SP)= 145,000 – 15,500*10 = 10,000 F
(ii) Materials quantity variance: SP(AQ-SQ)= 10 (15,500 -16,500)= 10,000 F
[Note SQ = 5,500 * 3 =16,500]
