Exam (elaborations)
MAC3701 ASSESSMENT 1 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS
- Course
- Institution
MAC3701 ASSESSMENT 1 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS
[Show more]
Seller
Follow
oscardiura
Reviews received
Content preview
Question 1 Tshintsha (Pty) Ltd is a manufacturer of three types of inverters namely grid-tied, off-grid andhybrid inverters. Tshintsha uses an absorption costing system. The following information is
Not yet answered
available for the financial year ended 29 February 2024:
M arked out of
1.00 Product Grid-tied Off-grid Hybrid
Flag question Budgeted number of inverters produced 10 000 15 000 20 000
Actual number of inverters produced 8 000 16 000 21 000
Budgeted machine hours per unit 1,25 1,0 1,4
OSCAR DIURA Actual machine hours per unit 1,2 1,1 1,3
oscardiura@gmail.com
0737560989
For FAC,ECS,MAC,DSC, 1. The fixed manufacturing overheads (FMO) are allocated to products based on the
machine time spent. The total budgeted FMO for the year was R13 014 750 and the
TAX,STA,FIN,INV,
total actual FMO was R12 498 600.
QMI,BNU DSC tutoring
2. There was no budgeted or actual opening or closing inventory of any type.
The budgeted FMO allocation rate per machine hour (rounded to two decimal places) for the
2024 financial year was:
Select one:
a. R238,80
=13014750/(1.25*10000+15000+1.4*20000)
b. R234,50
c. R225,20
d. R229,33
e. None of the options
Next page
P r e vious
a c tivity
Announcements
, Question 2 Tshintsha (Pty) Ltd is a manufacturer of three types of inverters namely grid-tied,
Not yet answered off-grid and hybrid inverters. Tshintsha uses an absorption costing system. The
following information is available for the financial year ended 29 February 2024:
M arked out of
1.00 Product Grid-tied Off-grid Hybrid
Flag question
Budgeted number of inverters produced 10 000 15 000 20 000
Actual number of inverters produced 8 000 16 000 21 000
Budgeted machine hours per unit 1,25 1,0 1,4
Actual machine hours per unit 1,2 1,1 1,3
1. The fixed manufacturing overheads (FMO) are allocated to products based
on the machine time spent. The total budgeted FMO for the year was
R13 014 750 and the total actual FMO was R12 498 600.
2. There was no budgeted or actual opening or closing inventory of any type.
For this question only assume that the FMO allocation rate per machine hour is R200
The FMO allocated to product Grid-tied in the Actual statement of profit and loss for
the 2024 financial year is:
Select one:
a. R2 000 000 =200*1.2*8000
=1920000
b. None of the options
c. R2 400 000
d. R2 500 000
e. R1 920 000
Previous page Next page
P r e vious
a c tivity
OSCAR DIURA
oscardiura@gmail.com
0737560989
For FAC,ECS,MAC,DSC,
TAX,STA,FIN,INV,
QMI,BNU DSC tutoring
, Question 3 Tshintsha (Pty) Ltd is a manufacturer of three types of inverters namely grid-tied,
Not yet answered off-grid and hybrid inverters. Tshintsha uses an absorption costing system. The
following information is available for the financial year ended 29 February 2024:
M arked out of
1.00 Product Grid-tied Off-grid Hybrid
Flag question
Budgeted number of inverters produced 10 000 15 000 20 000
Actual number of inverters produced 8 000 16 000 21 000
Budgeted machine hours per unit 1,25 1,0 1,4
Actual machine hours per unit 1,2 1,1 1,3
1. The fixed manufacturing overheads (FMO) are allocated to products based
on the machine time spent. The total budgeted FMO for the year was
R13 014 750 and the total actual FMO was R12 498 600.
2. There was no budgeted or actual opening or closing inventory of any type.
For his question only assume that the total FMO allocated to products in the 2024
financial year actual statement of profit and loss was R12 800 000
The 2024 financial year’s over or under-allocated FMO amount was:
Select one:
a. Over allocation of R301 400
=12498600-12800000
b. Under allocation of R301 400 =301400
c. Under allocation of R214 750
d. Over allocation of R214 750
e. None of the options
Previous page Next page
OSCAR DIURA
oscardiura@gmail.com
0737560989
For FAC,ECS,MAC,DSC,
TAX,STA,FIN,INV,
QMI,BNU DSC tutoring
P r e vious
a c tivity
Announcements
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller oscardiura. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.78. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
56326 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now