Other
CIMA BA2 Practice Test Chapter 10-Preparing accounts and reports for management
CIMA BA2 Practice Test Chapter 10-Preparing accounts and reports for management
[Show more]
Content preview
BA 2 - Fundamentals of Management AccountingPractice questions
Preparing accounts and reports for
management
Chapter ten
BA 2 - Preparing accounts and reports for managers. Quantia Learning
, 01. GRO uses job costing. Three jobs were worked on during a period, the details of which
were:
Job 1 Job 1 Job 1
$ $ $
Opening work in 8,500 0 46,000
progress
Material in period 17,150 19,025 0
Labour in period 12,500 23,000 4,500
The overheads for the period were exactly as budgeted: $140,000 and are absorbed on the
basis of direct labour cost.
Jobs 1 and 2 were incomplete at the end of the period.
What was the value of closing work in progress?
A. $81,900
B. $90,175
C. $140,675
D. $214,425
02. A company which uses job costing is pricing 3 jobs, details of which are as follows:
Production cost Pricing method
Job A $45 Mark-up 25%
Job B $38 Mark-up 20%
Job C $75 Margin 15%
10% has to be added to production cost to absorb general overheads. Calculate the selling
prices for jobs A, B and C.
Job A: $ _________
BA 2 - Preparing accounts and reports for managers. Quantia Learning
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 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 ellewoods2. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £5.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now