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CIMA BA2 Practice Test Chapter 10-Preparing accounts and reports for management
CIMA BA2 Practice Test Chapter 10-Preparing accounts and reports for management
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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
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