Exam (elaborations)
Mac2601 Assignment 1 Semester 2 2024
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Mac2601 Assignment 1 Semester 2 2024
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8/15/24, 1:06 PM Assessment 1: Attempt reviewMAC2601-24-S2 Welcome Message Assessment 1
QUIZ
Started on Thursday, 15 August 2024, 12:42 PM
State Finished
Completed on Thursday, 15 August 2024, 1:05 PM
Time taken
Marks
out of 100.00
Question 1
41 22 4 2 00
Correct 41 22 4 2 00
41 22 4 2 00
Mark 1.00 out of 1.00
Which one of the following is a disadvantage of the scatter graph method?
a. It can be used for testing the relationship between two variables as it provides an indication if correlation exists and
if it is high or low.
b. It is a very simple method that requires very little calculations.
c. It cannot establish the exact degree of correlation between the variables.
d. It is not in uenced by the size of outlying items.
Question 2
Correct
Mark 1.00 out of 1.00
One of the following is not part of products costs.
a. Labour costs
b. Overhead costs
c. Marketing costs
d. Material costs
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=20962436&cmid=854256 1/8
,8/15/24, 1:06 PM Assessment 1: Attempt review
Question 3
Correct
Mark 1.00 out of 1.00
Which costing system(s) is/are the method(s) used for apportioning production overheads?
a. Job costing only.
b. Traditional costing and Standard costing only.
c. Traditional costing only.
d. Process costing only.
Question 4
Correct
Mark 1.00 out of 1.00
….. is/are the method(s) used for accumulating production costs.
(I) Budgeted costing
(II) Actual costing
(III) Standard costing
(IV) Process costing
a. (I) and (II) only.
b. (IV) only.
c. (II) and (III) only.
d. (I) only.
Question 5
Correct
Mark 1.00 out of 1.00
.... is an amount of money that must be paid to get something.
a. Cost
b.
Cost object
c.
Cost allocation
d.
Cost driver
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=20962436&cmid=854256 2/8
,8/15/24, 1:06 PM Assessment 1: Attempt review
Question 6
Correct
Mark 1.00 out of 1.00
Which one of the following is a disadvantage of the least squares method?
a. It is easy to understand and perform.
b. It has a strong statistical foundation.
c. It is widely applicable.
d. It is susceptible to outliers.
Question 7
Correct
Mark 1.00 out of 1.00
Management’s control function involves ….
(I) monitoring.
(II) measuring and comparing planned outcomes with actual outcomes.
(III) taking appropriate action where there are signi cant variances.
a. All the options.
b. (II) and (III) only.
c. (I) only.
d. (I) and (II) only.
Question 8
Correct
Mark 1.00 out of 1.00
…....... purchase nished goods that they then resell for a pro t.
a.
Service organisations
b.
Financial institutions
c.
Merchandisers
d.
Manufacturers
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=20962436&cmid=854256 3/8
, 8/15/24, 1:06 PM Assessment 1: Attempt review
Question 9
Correct
Mark 1.00 out of 1.00
The management accountant must keep nancial information … and should never be tempted to use this information for
personal gain.
a. standard
b. con dential
c. available
d. in the public domain
Question 10
Correct
Mark 1.00 out of 1.00
Correct sequential steps followed to prepare a scatter graph are:
a. Plot the scatter graph, Draw a regression line, Determine the total xed cost & Determine the variable cost per
unit.
b. Determine the variable cost per unit, Determine the total xed cost, Draw a regression line & Plot the scatter graph.
c. Draw a regression line, Plot the scatter graph, Determine the total xed cost & Determine the variable cost per unit.
d. Determine the variable cost per unit, Determine the total xed cost, Plot the scatter graph & Draw a regression line.
Question 11
Correct
Mark 3.00 out of 3.00
Lehakwe (Pty) Ltd (“Lehakwe”), has opening inventory of 10 000 units with a value of R100 000. During the period, 20 000
units were manufactured at a unit cost of R25 each. The closing inventory was 6 000 units.
Using weighted average, the cost of sales value is ….
a. R480 000
b. R200 000
c. R400 000
d. R120 000
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=20962436&cmid=854256 4/8
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