Sample Exam For ILearn ACCG921 S1 2013

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SEAT NUMBER: ……….… ROOM: .………………. FAMILY NAME.………….....………………………… This question paper must be returned. Candidates are not permitted to remove any part of it from the examination room. OTHER NAMES…………….…………………..…….. STUDENT NUMBER………….………..……………. SESSION 1 SAMPLE EXAMINATIONS - 2014 Disclaimer The objective of the sample examination and the revision materials therein is to assist students in their preparation for the final examination. The sample examination is therefore similar in format to the final examination. However, questions and topics in the final examination will be different, so students should also revise all other learning materials, such as, lecture notes and homework exercises. Unit: ACCG 921 Managerial Accounting &…show more content…
Smith Manufacturing has 27,000 labour hours available for producing X and Y. Consider the following information: Product X Product Y Required labour time per unit (hours) 2 3 Maximum demand (units) 6,000 8,000 Contribution margin per unit $5.00 $6.00 If Smith wishes to maxmise their profit, which of the following production schedules should the company set? A. 8000 units of Product Y only B. 1500 units of Product X and 8000 units of Product Y C. 6000 units of Product X only D. 6000 units of Product X and 5000 units of Product Y 10. Car hire companies would be classified as: A B C D 11. Mass services Service shops Retailers Professional service Job costing for service entities applies when: A B C D Customer contact is low There is significant back office involvement The number of services produced is low The number of services produced is high 12. Morrison, Inc., which uses a process cost accounting system, passes completed production from Department A to Department B for further manufacturing. The journal entry to record completed production in Department A requires: A Debit to Work-in-Process Inventory and Credit to Finished-Goods Inventory. B Debit to Work-in-Process Inventory Department A and Credit to Work-inProcess Inventory Department B C Debit to Finished-Goods Inventory and Credit to Work-in-Process Inventory Department A D Debit to Work-in-Process Inventory Department B and Credit to Work-inProcess

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