Exam (elaborations)
MAC1501 Assignment 5 semester 2 2023
- Institution
- University Of South Africa (Unisa)
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10/11/23, 11:38 AM Assessment 5: Attempt reviewUNISA 2023 MAC1501-23-S2 Welcome Message Assessment 5
QUIZ
Started on Wednesday, 11 October 2023, 10:38 AM
State Finished
Completed on Wednesday, 11 October 2023, 11:36 AM
Time taken 58 mins 35 secs
Marks 37.67/44.00
Grade 85.61 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Management accounting is governed by generally accepted accounting
principles (GAAP).
True
False
Question 2
Correct
Mark 1.00 out of 1.00
A correlation coe cient of 0 (zero) indicates that there is correlation between
two variables.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
Leave pay and holiday pay are additional monetary entitlement of employees.
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14102846&cmid=624513 1/10
,10/11/23, 11:38 AM Assessment 5: Attempt review
Question 4
Correct
Mark 1.00 out of 1.00
Ideally the ROA (return on assets) should be equal to the ROE (return on equity).
True
False
Question 5
Correct
Mark 1.00 out of 1.00
Step variable costs are predominately xed in nature.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
The balance of the workers’ leave entitlement is called discretionary leave.
True
False
Question 7
Partially correct
Mark 1.00 out of 2.00
Complete the following statements by choosing the correct answer from the
options provided:
The process of relying on feedback to ensure a plan is being implemented is
referred to as controlling.
the cost of conversion of direct materials is
not considered as part of total cost of inventory of a VAT-registered
manufacturing company.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14102846&cmid=624513 2/10
,10/11/23, 11:38 AM Assessment 5: Attempt review
Question 8
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the
options provided.
An increase in production within the relevant range will
cause variable production costs to increase in total.
A management accountant who prepares a useful report after analysing data
is exhibiting competence
Question 9
Correct
Mark 2.00 out of 2.00
Complete the following statement by choosing the correct answer from the
options provided.
Materials requisition form a detailed source document that
speci es the type and quantity of materials that are to be drawn from the
storeroom and identi es the job to which the costs of materials are to be
charged.
Provision for doubtful debts would not be included in a cash
budget.
Question 10
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the
options provided.
Management accounting information is cost effective when
the value of the information exceeds the cost of producing it.
.
The quick ratio excludes inventory .
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14102846&cmid=624513 3/10
, 10/11/23, 11:38 AM Assessment 5: Attempt review
Question 11
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the
options provided:
Risk evaluation attempts to assess each risk according to
probability and impact
A budget that is prepared for a single level of activity that is expected to
occur in the future, is referred to as static budget
Question 12
Correct
Mark 2.00 out of 2.00
The overhead costs are absorbed to production at the rate of R4 per direct
labour hour.
Actual Absorbed Actual Over/(under) absorbed
direct labour overheads overheads
hours
10 000 R40 000 R42 000 R2 000 (under‑absorbed)
Required:
Calculate the missing items then drag and drop the correct answer from the list
of options provided.
R168 000 R32 000 R10 500
R32 000 (under‑absorbed) R32 000 over‑absorbed
R126 000 (under‑absorbed) R126 000 (over‑absorbed)
R2 000 over‑absorbed
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14102846&cmid=624513 4/10
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