SYmon MK
Our aim is your success.
MAC2601
COST ACCOUNTING AND CONTROL
Question 1:
Disclaimer
Although this document has been meticulously crafted, it is provided without any express, implied, or representational
warranties.
The author assumes no liability or responsibility for any actions that are taken as a result of the information contained in thi
document.
The purpose of this document is to serve as a reference, research, and comparison tool.
It is strictly prohibited to reproduce, rescale, or transmit any portion of this document.
, UNIVERSITY EXAMINATIONS
-
Ililll
UNIVERSITEITSEKSAMENS
UN1SAI~~:
ACN203S October/November 2011
RAC203G
COST ACCOUNTING AND CONTROL
Duration 2 Hours 100 Marks
EXAMINERS
FIRST MR WJ COETZEE MRS Y REYNEKE
MISS JM VAN ZYL
SECOND MS S BUCHNER MR RK NZHINGA
Use of a non-programmable pocket calculator Is permissible
This examination question paper remains tile property of the University of South Africa
and may not be removed from the examination venue
This paper consists of 9 pages
N.B.
1 Thrs paper consists of FOUR (4) questions
2 All questions must be answered
3 Basic workings, where applicable, must be shown
4 Ensure that you are handed the correct exammanon answer book (blue for accounting) by the
Invlgllator
5 EACH QUESTION ATTEMPTED MUST BE COMMENCED ON A NEW (SEPARATE) PAGE
6 The requIred percentage to pass trus module IS50%
PROPOSED TIMETABLE:
Question Subject Marks Time in
minutes
1 Process costing 20 24
2 Direct and absorption costmg 20 24
3 Standard costIng 20 24
4 Sundry questions (three Independent parts) 40 48
- 100 120
ITURNOVER]
, 2 ACN203S
Ocr/NOV 2011
QUESTION 1 (20 marks)(24 minutes)
Rautenbach Remedies (Pty) Ltd manufactures rnedicme A process costing system IS bemg
used Medicine A IS being produced In a single process
Normal wastage occurs when the process IS 60% complete and IS estimated to be 5% of the
Inputs that reach the wastage pomt Matenal IS added at the beginning of the process and
conversion costs are Incurred evenly throughout the process The first-m-first-out (FIFO) method
of stock valuation IS being used
At 1 January 2011 At 31 December 2011
Work-In-process 20 000 Units 15000 units
% of completion - material 100% 100%
% of completion - labour 30% 45%
% of completion - overheads 30% 45%
Cost of matenal Included In stock R45300 ?
Cost of labour Included In stock R68200 ?
Cost of overheads Included In stock R32000 ?
Additional Information
• Fully completed units at 31 December 2011 were 32 000
• 36 000 units were put Into production dunng the year
• Costs Incurred dUring 2011 matenal R59 000, conversion costs R102 000
REQUIRED:
Prepare the following statements for the year ended 31 December 2011
(a) Quantity statement (8)
(b) Production cost statement (round off cost per unit to two decrnal places) (3)
(c) Cost allocation statement (use cost per urut from (b) and round off all other
amounts to the nearest Rand) (9)
[TURN OVER]
Our aim is your success.
MAC2601
COST ACCOUNTING AND CONTROL
Question 1:
Disclaimer
Although this document has been meticulously crafted, it is provided without any express, implied, or representational
warranties.
The author assumes no liability or responsibility for any actions that are taken as a result of the information contained in thi
document.
The purpose of this document is to serve as a reference, research, and comparison tool.
It is strictly prohibited to reproduce, rescale, or transmit any portion of this document.
, UNIVERSITY EXAMINATIONS
-
Ililll
UNIVERSITEITSEKSAMENS
UN1SAI~~:
ACN203S October/November 2011
RAC203G
COST ACCOUNTING AND CONTROL
Duration 2 Hours 100 Marks
EXAMINERS
FIRST MR WJ COETZEE MRS Y REYNEKE
MISS JM VAN ZYL
SECOND MS S BUCHNER MR RK NZHINGA
Use of a non-programmable pocket calculator Is permissible
This examination question paper remains tile property of the University of South Africa
and may not be removed from the examination venue
This paper consists of 9 pages
N.B.
1 Thrs paper consists of FOUR (4) questions
2 All questions must be answered
3 Basic workings, where applicable, must be shown
4 Ensure that you are handed the correct exammanon answer book (blue for accounting) by the
Invlgllator
5 EACH QUESTION ATTEMPTED MUST BE COMMENCED ON A NEW (SEPARATE) PAGE
6 The requIred percentage to pass trus module IS50%
PROPOSED TIMETABLE:
Question Subject Marks Time in
minutes
1 Process costing 20 24
2 Direct and absorption costmg 20 24
3 Standard costIng 20 24
4 Sundry questions (three Independent parts) 40 48
- 100 120
ITURNOVER]
, 2 ACN203S
Ocr/NOV 2011
QUESTION 1 (20 marks)(24 minutes)
Rautenbach Remedies (Pty) Ltd manufactures rnedicme A process costing system IS bemg
used Medicine A IS being produced In a single process
Normal wastage occurs when the process IS 60% complete and IS estimated to be 5% of the
Inputs that reach the wastage pomt Matenal IS added at the beginning of the process and
conversion costs are Incurred evenly throughout the process The first-m-first-out (FIFO) method
of stock valuation IS being used
At 1 January 2011 At 31 December 2011
Work-In-process 20 000 Units 15000 units
% of completion - material 100% 100%
% of completion - labour 30% 45%
% of completion - overheads 30% 45%
Cost of matenal Included In stock R45300 ?
Cost of labour Included In stock R68200 ?
Cost of overheads Included In stock R32000 ?
Additional Information
• Fully completed units at 31 December 2011 were 32 000
• 36 000 units were put Into production dunng the year
• Costs Incurred dUring 2011 matenal R59 000, conversion costs R102 000
REQUIRED:
Prepare the following statements for the year ended 31 December 2011
(a) Quantity statement (8)
(b) Production cost statement (round off cost per unit to two decrnal places) (3)
(c) Cost allocation statement (use cost per urut from (b) and round off all other
amounts to the nearest Rand) (9)
[TURN OVER]
