Opened: Tuesday, 13 August 2024, 8:00 AM
Closes: Thursday, 15 August 2024, 11:00 PM
208217
This is an elective assessment, which forms part of Group A and will count 10% towards your year mark. This assessment will cover
learning units 1 to 5.
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Summary of your previous attempts
Attempt State Marks / 32.00 Grade / 100.00 Review
, Time left 0:27:35
Question 1 Consider the following statements and state whether they are true or false.
Answer saved
Marked out of Consumables are those supplies that form an integral part of finished
2.00
True
goods.
Flag According to the perpetual inventory system, freight charges on
question merchandise purchased are considered a cost of purchase and True
are debited to the inventory of merchandise control account.
Question 2
Complete the following statements by choosing the correct answer from the options
Answer saved
Marked out of
provided:
2.00
Flag
Rezmart (Pty) LTD manufactures and sells paving bricks. You have been appointed as a
question
costing clerk of the company.
Cement used the manufacturing of paving bricks will be classified as a
product cost .
Direct labour cost combined with manufacturing overheard cost are known as
conversion costs :
Question 3
Complete the table by selecting the appropriate description from the list below:
Answer saved
Marked out of Category of Description
2.00 inventory
Flag
question finished assets manufactured and held for sale in the ordinary course of business
goods
materials assets to be consumed in the production process
and
supplies
Question 4 Mmamazala (Pty) Limited manufactures and sells aluminum cans. Classify the
Answer saved following items as consumables or indirect materials:
Marked out of
2.00
Vanish used for vanishing the bottoms of the cans. Indirect materials
Flag
question
Cleaning agents for washing the cans before packing. Consumables
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Complete the following statement by choosing the correct answer:
Prime costs and conversion costs both share direct labour as a common element of the total manufacturing
costs.
VAT charged on the purchase of materials is not considered as part of the total cost of
inventory of a VAT-registered manufacturing company.
Question 6
Answer saved
Marked out of 2.00
Complete the following statements by choosing the correct answer:
The basic principle of variable cost is that as the level of activity increases the unit cost will usually
remain constant .
Cost drivers are the activities that cause the cost of something to change.
Question 7
Answer saved
Marked out of 2.00
Complete the following statement by choosing the correct answer:
The higher the number of orders placed, the higher the ordering cost, but the lower the holding cost.
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