Exam (elaborations)
Exampack for mac2601
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August 24, 2021
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2021/2022
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Book Title: Cost and Management Accounting
Author(s): Colin Drury
Edition: 2003
ISBN: 9781861529053
Edition: Unknown
Exam (elaborations)
MAC2601 EXAM PACK 2022
Class notes
CAPITAL BUDGETING
Class notes
Mac2601 complete syllabus explained in detail with questions and solutions
All for this textbook (5)
Institution
University of South Africa (Unisa)
Course
MAC2601 - Principles Of Management Accounting (MAC2601)
All documents for this subject (123)
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MODULE:
MANACC2-1
QUESTIONS & SOLUTION
ACADEMIC HEAD:
Sharon Eckert
sharone@ebs.co.za
LECTURER:
Patricia Herselman
patriciah@ebs.co.za
Sandton City Office Towers, Mezzanine level, 83 Rivonia Rd, Sandhurst, 2196
Postnet Suite #448, Private Bag x10010, Edenvale, 1610 • www.ebs.co.za • Company Registration 2012/018470/0
, Table of Contents
TOPIC 1: Nature and behavior of costs .................................................................. 1
QUESTION 1................................................................................................................ 1
QUESTION 2................................................................................................................ 2
QUESTION 3................................................................................................................ 3
QUESTION 1 – SUGGESTED SOLUTION .................................................................... 4
QUESTION 2 – SUGGESTED SOLUTION .................................................................... 5
QUESTION 3 - SUGGESTED SOLUTION ..................................................................... 8
TOPIC 2: Accounting for material, labour and overheads ................................ 11
QUESTION 1.............................................................................................................. 12
QUESTION 2.............................................................................................................. 13
QUESTION 3.............................................................................................................. 14
QUESTION 4.............................................................................................................. 15
QUESTION 5.............................................................................................................. 16
QUESTION 6.............................................................................................................. 17
QUESTION 7.............................................................................................................. 18
QUESTION 8.............................................................................................................. 19
QUESTION 9.............................................................................................................. 20
QUESTION 10............................................................................................................ 21
QUESTION 11............................................................................................................ 22
QUESTION 12............................................................................................................ 24
QUESTION 1 - SUGGESTED SOLUTION ................................................................... 25
QUESTION 2 - SUGGESTED SOLUTION ................................................................... 25
QUESTION 3 - SUGGESTED SOLUTION ................................................................... 26
QUESTION 4 - SUGGESTED SOLUTION ................................................................... 27
QUESTION 5 - SUGGESTED SOLUTION ................................................................... 28
QUESTION 6 - SUGGESTED SOLUTION ................................................................... 28
QUESTION 7 - SUGGESTED SOLUTION ................................................................... 29
QUESTION 8 - SUGGESTED SOLUTION ................................................................... 30
QUESTION 9 - SUGGESTED SOLUTION ................................................................... 31
QUESTION 10 - SUGGESTED SOLUTION ................................................................. 32
QUESTION 11 – SUGGESTED SOLUTION ................................................................ 33
QUESTION 12 – SUGGESTED SOLUTION ................................................................ 35
MANACC2-1
© Edge Business School
Questions and Solutions
,TOPIC 5: The activity-based costing (ABC) system ............................................ 37
QUESTION 1.............................................................................................................. 38
QUESTION 2.............................................................................................................. 39
QUESTION 3.............................................................................................................. 40
QUESTION 1 - SUGGESTED SOLUTION ................................................................... 41
QUESTION 2 – SUGGESTED SOLUTION .................................................................. 42
QUESTION 3 – SUGGESTED SOLUTION .................................................................. 43
TOPIC 3: Methods of inventory valuation............................................................. 44
QUESTION 1.............................................................................................................. 45
QUESTION 2.............................................................................................................. 46
QUESTION 1 – SUGGESTED SOLUTION .................................................................. 47
QUESTION 2 – SUGGESTED SOLUTION .................................................................. 51
TOPIC 4: Valuing completed inventories: Direct costing versus absorption
costing method ...................................................................................................... 54
QUESTION 1.............................................................................................................. 55
QUESTION 2.............................................................................................................. 57
QUESTION 3.............................................................................................................. 58
QUESTION 4.............................................................................................................. 60
QUESTION 5.............................................................................................................. 61
QUESTION 6 (20 marks) .......................................................................................... 62
QUESTION 7 (20 marks) .......................................................................................... 63
QUESTION 1 – SUGGESTED SOLUTION .................................................................. 65
QUESTION 2 – SUGGESTED SOLUTION .................................................................. 67
QUESTION 3 – SUGGESTED SOLUTION .................................................................. 70
QUESTION 4 – SUGGESTED SOLUTION .................................................................. 72
QUESTION 5 – SUGGESTED SOLUTION .................................................................. 74
QUESTION 6 - SUGGESTED SOLUTION ................................................................... 76
QUESTION 7 –SUGGESTED SOLUTION ................................................................... 78
TOPIC 6: The job costing system ........................................................................... 81
QUESTION 1.............................................................................................................. 81
QUESTION 2.............................................................................................................. 82
QUESTION 3.............................................................................................................. 84
QUESTION 4.............................................................................................................. 86
QUESTION 5 (14 marks / 17 minutes) .................................................................. 87
QUESTION 6 (7 marks / 9 minutes) ...................................................................... 88
QUESTION 1 – SUGGESTED SOLUTION .................................................................. 89
QUESTION 2 – SUGGESTED SOLUTION .................................................................. 90
QUESTION 3 – SUGGESTED SOLUTION .................................................................. 92
QUESTION 4 - SUGGESTED SOLUTION ................................................................... 93
QUESTION 5 - SUGGESTED SOLUTION ................................................................... 94
QUESTION 6 - SUGGESTED SOLUTION ................................................................... 95
MANACC2-1
© Edge Business School
Questions and Solutions
, TOPIC 7: The process costing system ................................................................... 96
QUESTION 1.............................................................................................................. 96
QUESTION 2.............................................................................................................. 98
QUESTION 3.............................................................................................................. 99
QUESTION 4 (16 marks / 20 minutes) .............................................................100
QUESTION 5............................................................................................................101
QUESTION 1 - SOLUTION .......................................................................................102
QUESTION 2 - SOLUTION .......................................................................................110
QUESTION 3 - SOLUTION .......................................................................................112
QUESTION 4 - SOLUTION .......................................................................................114
QUESTION 5 - SOLUTION .......................................................................................116
TOPIC 8: Joint and by-product costing system ................................................. 120
QUESTION 1 (18 marks / 22 minutes) ................................................................121
QUESTION 2 (32 marks / 39 minutes) ................................................................122
QUESTION 3 (18 marks / 22 minutes) ................................................................124
QUESTION 4 (22 marks / 27 minutes) ................................................................125
QUESTION 5 (11 marks / 14 minutes) ................................................................126
QUESTION 6 (10 marks) ........................................................................................127
QUESTION 1 - SUGGESTED SOLUTION .................................................................128
QUESTION 2 - SUGGESTED SOLUTION .................................................................129
QUESTION 3 - SUGGESTED SOLUTION .................................................................131
QUESTION 4 - SUGGESTED SOLUTION .................................................................132
QUESTION 5 - SUGGESTED SOLUTION .................................................................133
QUESTION 6 – SUGGESTED SOLUTION ................................................................135
TOPIC 9: Budgeting techniques .......................................................................... 137
QUESTION 1............................................................................................................137
QUESTION 2............................................................................................................138
QUESTION 3............................................................................................................139
QUESTION 4............................................................................................................140
QUESTION 5............................................................................................................141
QUESTION 1 - SUGGESTED SOLUTION .................................................................142
QUESTION 2 - SUGGESTED SOLUTION .................................................................142
QUESTION 3 – SUGGETED SOLUTION ..................................................................143
QUESTION 4 - SUGGESTED SOLUTION .................................................................145
QUESTION 5 – SUGGESTED SOLUTION ................................................................146
MANACC2-1
© Edge Business School
Questions and Solutions