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MAC1501 ASSESSMENT 4 SEM 2 OF 2023 EXPECTED QUESTIONS AND ANSWERS R90,00
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  3. University Of South Africa (Unisa)
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MAC1501 ASSESSMENT 4 SEM 2 OF 2023 EXPECTED QUESTIONS AND ANSWERS
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THIS DOCUMENT CONTAINS MAC1501 ASSESSMENT 4 SEM 2 OF 2023 EXPECTED QUESTIONS AND ANSWERS.USING IT CORRECTLY AS A GUIDE WILL HELP YOU SCORE ABOVE 75%

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  • September 29, 2023
  • September 29, 2023
  • 52
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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Started on Friday, 29 September 2023, 8:51 PM
State Finished
Completed on Friday, 29 September 2023, 9:29 PM
Time taken 38 mins 47 secs
Marks 34.50/40.00
Grade 86.25 out of 100.00

Question 1 Leave pay and holiday pay are additional monetary entitlement of employees.
Correct

M ark 1.00 out of True
1.00
False




Question 2 The cost of goods manufactured statement is part of the financial statements and must therefore comply with IFRS requirements.
Correct

M ark 1.00 out of True
1.00
False




Question 3 A cross-sectional analysis evaluates the performance of the company over time.
Incorrect

M ark 0.00 out of True
1.00
False




Question 4 PAYE deducted from the remuneration of employees must be paid to SARS by the 7th of the month following the month for which
Correct

M ark 1.00 out of True

,Question 6 Process costing accumulates and assign costs to jobs or customers.
Correct

M ark 1.00 out of True
1.00
False




Question 7
Complete the following statement by choosing the correct answer from the options provided:
Correct

M ark 2.00 out of A credit balance in the Manufacturing Overhead account that occurs when the amount of overhead cost applied to work-in-proc
2.00
actually incurred during the period is known as over-absorbed overhead .

Budget a detailed plan for acquisition and use of financial and other resources over specified period.




Question 8
Complete the following statements by choosing the correct answer from the options provided:
Correct

M ark 2.00 out of The labour recovery rate is a rate that aims to recover all the cost of labour from the cost of production.
2.00
We use the basic EOQ model to determine the number of units of inventory that we should order at a

are minimised.

, Question 9 Complete the following statements by dragging and dropping the correct answer from the options provided:
Partially correct
Total ordering costs is determined as number of orders placed x fixed cost per order
M ark 1.50 out of
2.00 Total holding cost is determined as average number of units in inventory x number of orders placed




average number of units in inventory holding cost per unit



holding cost per unit average number of units in inventory



fixed cost per order number of orders placed



holding cost per unit fixed cost per order




Question 10
Complete the following statements by choosing the correct answer from the options provided:
Correct

M ark 2.00 out of A job costing system is used when different products are manufactured in an organisation and charged to a spec
2.00
Direct materials budget shows the volume/quantity of materials required for production in order to produce the planne




Question 11 In the quest for wealth creation, the financial manager will face various important decisions. Select the appropriate decision that mat
Correct

M ark 2.00 out of Deciding how to finance the chosen investment – with own funds or with debt Finance decision
2.00

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