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MAC2601 EXAM PACK 2023
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- University Of South Africa
MAC2601 EXAM PACK 2023
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MAC2601EXAM PACK
2023
QUESTIONS
AND
ANSWERS
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UNIVERSITY EXAMINATIONS
Jan/Feb 2022
MAC2601
Principles of Management Accounting
100 Marks
Duration 2 Hours
This paper consists of eleven (11) pages (including this page).
Instructions:
1. This paper consists of FIVE (5) questions and all five questions must be answered.
2. Each question attempted, must commence on a new (separate) page.
3. You may answer the questions in any order, but each answer must be numbered exactly
the same as the corresponding question.
4. For questions 2 – 5, all calculations must be shown.
5. Ignore taxation and the time value of money.
6. Please ensure that you have carefully read and follow all the exam instructions and the
MAC2601 guide provided as a link to your examination timetable on myUnisa.
7. Your complete answer script must be submitted as a single pdf file.
8. Do not password-protect your answer script.
9. After the two (2) hour duration, there are 60 minutes of upload time available. However,
please do not wait until the last minute to submit, instead submit your file as soon as the
two (2) hours duration of the examination have passed. If you do not successfully submit
before the cut-off time you will be marked as absent from the examination.
10. Make sure you submit the correct file.
11. All answer files may only be submitted via the official route (on the myUnisa platform as
per the instructions) within the allocated time. According to the university rules and
regulations, strictly, NO OTHER SUBMISSION METHOD IS ALLOWED.
12. You are reminded that you must read and adhere to the Honesty Declaration.
13. This is a closed-book examination; hence, you may not refer to any of your study material,
notes, the internet, etc. during the examination.
PROPOSED TIMETABLE:
Time in
Question Topics Marks
minutes
1 Multiple-Choice Questions (MCQ) (various topics) 20 24
2 Direct and Absorption Costing 25 30
3 Relevant costing, Budgeting and Ethics 28 34
4 Activity-based Costing 16 19
5 Process Costing 11 13
100 120
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MAC2601
January/February 2022
QUESTION 1 – (20 Marks) (24 Minutes)
THIS QUESTION CONSISTS OF TEN (10) MULTIPLE-CHOICE QUESTIONS OF
TWO (2) MARKS PER QUESTION. FOR EACH QUESTION, SIMPLY WRITE DOWN
THE NUMBER OF THE QUESTION TOGETHER WITH THE CORRECT OPTION (a,
b, c OR d) IN YOUR ANSWER SCRIPT.
Use the information provided below to answer questions 1 to 4:
Mamelodi (Pty) Ltd uses a perpetual inventory system and applies the weighted
average method for the valuation of inventory. The following information about direct
materials inventory relates to the month ended 31 December 2021:
Date Transaction
03/12/2021 Issue of 250 units
08/12/2021 Purchase of 300 units at a total cost of R33 000
15/12/2021 Issue of 190 units
16/12/2021 Returns from factory to store: 40 excess units from goods issued
on 15 December. Returned units are in good condition.
21/12/2021 Purchase of 100 units at a total cost of R9 000
25/12/2021 Issue of 240 units
The opening balance of direct materials inventory on 1 December 2021 was 300 units
at a total value of R31 000.
(Note: Small rounding differences in inventory balances may be applicable.)
1. The value of direct materials inventory after the units purchased on 8 December
2021 was ________.
(a) R20 900
(b) R38 167
(c) R33 000
(d) R31 000
2. The value of direct materials inventory after the returns on 16 December 2021
was ________.
(a) R17 448
(b) R20 720
(c) R4 362
(d) R21 810
3. The value of direct materials inventory after the purchase of 100 units on
21 December 2021 was ________.
(a) R30 810
(b) R21 810
(c) R27 000
(d) R9 000
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MAC2601
January/February 2022
4. The value of direct materials closing inventory as at 31 December 2021 amounted
to ________.
(a) R24 648
(b) R6 162
(c) R5 400
(d) R30 810
Use the information provided below to answer questions 5 and 6:
Metsing (Pty) Ltd manufactures and sells one product. The following is an extract from
the budgeted information for the financial year ending on 31 December 2022:
Number of units to be manufactured and sold 10 000
Selling price per unit R14,00
Variable selling cost per unit R0,60
Variable production cost per unit R5,60
Total fixed manufacturing cost R32 000
5. What is Metsing (Pty) Ltd's budgeted break-even point in units for 2022?
(a) 2 286 units
(b) 4 103 units
(c) 5 714 units
(d) 5 932 units
6. What is Metsing (Pty) Ltd's budgeted margin of safety ratio for 2022?
(a) 41%
(b) 42%
(c) 59%
(b) 62%
7. Which costing system is the most appropriate for a manufacturing company that
when referring to the market it sell to a particular client?
(a) Joint costing.
(b) Activity-Based-Costing (ABC).
(c) Job costing.
(d) Process costing.
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