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MAC1501 Assignment 5 Semester 1 2024
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Assessment 5: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=186UNISA 2024 MAC1501-24-S1 Welcome Message Assessment 5
QUIZ
Started on Thursday, 2 May 2024, 2:57 PM
State Finished
Completed on Thursday, 2 May 2024, 3:40 PM
Time taken 43 mins 6 secs
Marks
out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
Budgeted capacity is the anticipated use of available capacity based on planned
production levels.
True
False
Question 2
Complete
Mark 1.00 out of 1.00
Relevant range refers to the activity level at which our assumption about the
behaviour of costs remains valid.
True
False
Question 3
Complete
Mark 1.00 out of 1.00
Glue, staples, and varnish would be considered as direct material cost in a furniture
manufacturing company.
True
False
1 of 7 2024/05/02, 15
,Assessment 5: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=186
Question 4
Complete
Mark 1.00 out of 1.00
The overtime premium is always considered as an indirect labour cost.
True
False
Question 5
Complete
Mark 1.00 out of 1.00
The purpose of the Unemployment Insurance Fund (UIF) is to provide bene�ts to
employees should they become unemployed.
True
False
Question 6
Complete
Mark 1.00 out of 1.00
FIFO means that the actual goods that were purchased �rst are physically sold/
(issued to production) �rst
True
False
Question 7
Complete
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer:
• Perpetual inventory system involves counting and checking several inventory
items on a regular basis so that each item is checked at least once a year.
• Factory’s capacity where the anticipated use of available capacity is based on the
planned production levels in the budget of the company is referred to as
budgeted capacity .
2 of 7 2024/05/02, 15
,Assessment 5: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=186
Question 8
Complete
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options
provided:
• Absorbed overheads are total overheads allocated to the cost of
products based on a predetermined overhead rate.
• The time an employee spends at work but not actively working or productive but
still gets remunerated for those hours is known as idle time
Question 9
Complete
Mark 2.00 out of 2.00
Complete the following statement by choosing the correct answer:
over -absorbed overhead occurs when actual overhead is less than absorbed
overhead, and therefore too much overhead has been charged to production.
Question 10
Complete
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options
provided:
• The High-low method uses the highest and lowest observations in
terms of activity levels (volumes) in the relevant range, and the corresponding
costs.
• Labour turnover refers to the employees leaving the company and having to
be replaced.
3 of 7 2024/05/02, 15
,Assessment 5: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=186
Question 11
Complete
Mark 0.00 out of 2.00
Complete the following statement by choosing the correct answer from the options
provided:
The higher the number of orders placed, the lower the ordering cost, but the
higher the holding cost.
Question 12
Complete
Mark 4.00 out of 4.00
Sebenzelaphi Company has two (2) production departments. The predetermined
overhead rate is based on labour cost in Department A and on machine hours in
Department B. At the beginning of the year, the company made the following
estimates:
Department A Department B
Direct labour cost R65 000 R42 000
Manufacturing overheads R91 000 R48 000
Direct labour hours 8 000 10 000
Machine hours 3 000 12 000
Required:
Calculate the predetermined overhead rates for Departments A and B by choosing the
correct answer from the options provided:
• Department A 140%
• Department B R4.00
4 of 7 2024/05/02, 15
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