MAC2601/103/2/2013
Principles of Management Accounting
(MAC2601)
TUTORIAL LETTER 103 – General exam guidelines and
additional questions for practice
DEPARTMENT OF
MANAGEMENT ACCOUNTING
, CONTENTS
1. INTRODUCTION ................................................................................................................................ 2
2. GENERAL EXAM INFORMATION ................................................................................................ 3 - 5
3. ADDITIONAL QUESTIONS......................................................................................................... 5 - 12
4. SOLUTIONS TO ADDITIONAL QUESTIONS ........................................................................... 13 - 36
1 INTRODUCTION
Dear Student
Enclosed in this tutorial letter please find the following:
Some guidance on the general format of the October/November 2013 exam for MAC2601
Additional questions for practicing some of the module contents
Kind regards,
Telephone number Office number E-mail
M Ramaleba (Mr) (012) 429-4334 1– 47
L Jonker (012) 429-4767 1–38
LECTURERS: MAC2601
2
, MAC2601/103
2 GENERAL EXAM INFORMATION
The MAC2601 October/November 2013 exam question paper will consist of:
o 100 marks, of which:
20% will be made up of multiple-choice questions
80% will be made up of written questions
o 8 questions, of which:
Question 1 will contain ten multiple-choice sub-questions of two marks each
Questions 2 – 8 will be written questions
Question 1 (multiple-choice questions) will be a combination of theory and short
calculations. Write down the number of each sub-question in your answer book with the
respective correct alternative next to the number. No mark-reading sheet will be provided.
Questions 2 – 8 (written questions) contain mostly calculations (by “calculations” we also
include statements and accounts which may have to be prepared), but also some theory
Questions 2 – 8 (written questions) vary between 10 and 15 marks each
Questions 2 – 8 (written questions) are broken up into smaller sections (sub-sections)
varying between 1 and 8 marks each
Each of the twelve topics will be examined in either the multiple-choice questions, or the
written questions, or both
The duration of the paper is 2 hours. This means you have 1,2 minutes (72 seconds) per
mark. However, remember that it takes some time to write down the required details, to
page through the paper, etc. and rather plan to use slightly less than 1,2 minutes per mark.
Show and clearly cross-reference all your workings, as this module is mainly based on
principles and the markers often refer to calculations to award marks if the final answer is
incorrect.
Time management is very important. Proper time management is critical for your success.
The following are a few hints with regard to time management and other exam techniques:
o It is important to study ALL the study units. Do not SPOT – management
accounting topics are easily integrated with each other and therefore it is highly
probable that you will regret leaving out certain study units.
o Practise by doing questions within the allocated time limits. You can practice time
management techniques on the additional questions in section 3 of this tutorial
letter – although these questions are not an indication of what will be asked in the
exam, we have provided time limits for each of the questions so that you can also
use them to practice time management.
o In your practice questions and in the exam, do not exceed the allocated minutes per
individual question. Move on to the next question if the time for a question is over –
remember to apply the 1,2 minutes per mark also to sub-sections of questions so
that you will not spend all your time for a question on only one or two sub-sections if
there are more.
3
, o Try to earn as many marks as possible as early as possible in attempting a
question.
o On the day of the exam: Remember your watch and your non-programmable
calculator.
o You will be provided with the necessary answer book in the examination venue.
Make sure that you fill in your student number correctly on the front page of the
answer book, but do not write your student number on every page, as this wastes
precious time.
o Do not re-write the “required” of the question or write down any unnecessary
headings that won’t earn you any marks. Just make sure you number your answers
exactly the same as in the question paper – you can answer the questions in a
different order, but they have to have the same numbers as in the question paper.
o Know your formats & formulae by heart. You will not be given a formula sheet in the
exam. The only formulae that might be provided in the MAC2601 exam are the two
equations for simple regression analysis (only if relevant to any of the questions).
Sometimes half a mark may be awarded for writing down the correct formula or
format. However, most of the marks in a question are usually for application of
principles, so do not simply write down a formula and leave out the substitution or
calculations and expect a good mark for the question. Writing down the formula is
still very important, as there are often different formulae that could be used to get to
the same answer, and the marker needs to know which formula you have applied in
order to award as many marks as possible to your calculations.
o Read the question carefully (both the “given” and the “required”) - while this may
seem obvious, you’d be surprised to see how many students fail to actually read
and understand what the question is asking of them.
o You could prioritise the questions from easiest to hardest based on your experience
of the different topics – if there is a certain topic that you feel will earn you more
marks than another, you are welcome to attempt the question that you are the most
comfortable with first. This way you might maximise your marks and increase your
chances of passing. However, using the exact numbering as in the question paper
and still answering all the questions are very important, independent of whether you
do the questions in the same order as in the paper, or in a different order.
o It is very important that you do not exceed the allocated time per question. Move on
to the next question when your time for a question is depleted. We know it could be
difficult to leave the remainder of a question when time for that question is up before
you have written down everything that you know with regard to the question, but we
often see that students obtain excellent marks in one or two individual questions or
some sub-sections and then fail the exam because they haven’t attempted all the
questions.
o Should you use less time than available for a specific question, move to the next
question. Only if you have time left after your final question, return to those
questions that you haven’t completed within the allocated time.
o All of these tips sound simple in theory, yet require discipline to implement in
practice.
4
Principles of Management Accounting
(MAC2601)
TUTORIAL LETTER 103 – General exam guidelines and
additional questions for practice
DEPARTMENT OF
MANAGEMENT ACCOUNTING
, CONTENTS
1. INTRODUCTION ................................................................................................................................ 2
2. GENERAL EXAM INFORMATION ................................................................................................ 3 - 5
3. ADDITIONAL QUESTIONS......................................................................................................... 5 - 12
4. SOLUTIONS TO ADDITIONAL QUESTIONS ........................................................................... 13 - 36
1 INTRODUCTION
Dear Student
Enclosed in this tutorial letter please find the following:
Some guidance on the general format of the October/November 2013 exam for MAC2601
Additional questions for practicing some of the module contents
Kind regards,
Telephone number Office number E-mail
M Ramaleba (Mr) (012) 429-4334 1– 47
L Jonker (012) 429-4767 1–38
LECTURERS: MAC2601
2
, MAC2601/103
2 GENERAL EXAM INFORMATION
The MAC2601 October/November 2013 exam question paper will consist of:
o 100 marks, of which:
20% will be made up of multiple-choice questions
80% will be made up of written questions
o 8 questions, of which:
Question 1 will contain ten multiple-choice sub-questions of two marks each
Questions 2 – 8 will be written questions
Question 1 (multiple-choice questions) will be a combination of theory and short
calculations. Write down the number of each sub-question in your answer book with the
respective correct alternative next to the number. No mark-reading sheet will be provided.
Questions 2 – 8 (written questions) contain mostly calculations (by “calculations” we also
include statements and accounts which may have to be prepared), but also some theory
Questions 2 – 8 (written questions) vary between 10 and 15 marks each
Questions 2 – 8 (written questions) are broken up into smaller sections (sub-sections)
varying between 1 and 8 marks each
Each of the twelve topics will be examined in either the multiple-choice questions, or the
written questions, or both
The duration of the paper is 2 hours. This means you have 1,2 minutes (72 seconds) per
mark. However, remember that it takes some time to write down the required details, to
page through the paper, etc. and rather plan to use slightly less than 1,2 minutes per mark.
Show and clearly cross-reference all your workings, as this module is mainly based on
principles and the markers often refer to calculations to award marks if the final answer is
incorrect.
Time management is very important. Proper time management is critical for your success.
The following are a few hints with regard to time management and other exam techniques:
o It is important to study ALL the study units. Do not SPOT – management
accounting topics are easily integrated with each other and therefore it is highly
probable that you will regret leaving out certain study units.
o Practise by doing questions within the allocated time limits. You can practice time
management techniques on the additional questions in section 3 of this tutorial
letter – although these questions are not an indication of what will be asked in the
exam, we have provided time limits for each of the questions so that you can also
use them to practice time management.
o In your practice questions and in the exam, do not exceed the allocated minutes per
individual question. Move on to the next question if the time for a question is over –
remember to apply the 1,2 minutes per mark also to sub-sections of questions so
that you will not spend all your time for a question on only one or two sub-sections if
there are more.
3
, o Try to earn as many marks as possible as early as possible in attempting a
question.
o On the day of the exam: Remember your watch and your non-programmable
calculator.
o You will be provided with the necessary answer book in the examination venue.
Make sure that you fill in your student number correctly on the front page of the
answer book, but do not write your student number on every page, as this wastes
precious time.
o Do not re-write the “required” of the question or write down any unnecessary
headings that won’t earn you any marks. Just make sure you number your answers
exactly the same as in the question paper – you can answer the questions in a
different order, but they have to have the same numbers as in the question paper.
o Know your formats & formulae by heart. You will not be given a formula sheet in the
exam. The only formulae that might be provided in the MAC2601 exam are the two
equations for simple regression analysis (only if relevant to any of the questions).
Sometimes half a mark may be awarded for writing down the correct formula or
format. However, most of the marks in a question are usually for application of
principles, so do not simply write down a formula and leave out the substitution or
calculations and expect a good mark for the question. Writing down the formula is
still very important, as there are often different formulae that could be used to get to
the same answer, and the marker needs to know which formula you have applied in
order to award as many marks as possible to your calculations.
o Read the question carefully (both the “given” and the “required”) - while this may
seem obvious, you’d be surprised to see how many students fail to actually read
and understand what the question is asking of them.
o You could prioritise the questions from easiest to hardest based on your experience
of the different topics – if there is a certain topic that you feel will earn you more
marks than another, you are welcome to attempt the question that you are the most
comfortable with first. This way you might maximise your marks and increase your
chances of passing. However, using the exact numbering as in the question paper
and still answering all the questions are very important, independent of whether you
do the questions in the same order as in the paper, or in a different order.
o It is very important that you do not exceed the allocated time per question. Move on
to the next question when your time for a question is depleted. We know it could be
difficult to leave the remainder of a question when time for that question is up before
you have written down everything that you know with regard to the question, but we
often see that students obtain excellent marks in one or two individual questions or
some sub-sections and then fail the exam because they haven’t attempted all the
questions.
o Should you use less time than available for a specific question, move to the next
question. Only if you have time left after your final question, return to those
questions that you haven’t completed within the allocated time.
o All of these tips sound simple in theory, yet require discipline to implement in
practice.
4
